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Capital increase of 80,553 shares (equivalent to approximately 0.23% of the existing shares) in Orphazyme A/S as a result of an issue of bonus shares to KUMCRI and directed issuance of new sharesOrphazyme A/S Copenhagen, Denmark, February 25, 2021 – Orphazyme A/S (ORPHA.CO; ORPH) (“the Company”), a late-stage biopharmaceutical company pioneering the Heat-Shock Protein response for the treatment of neurodegenerative orphan diseases, today decided on a capital increase as a result of a directed issue of bonus shares to the University of Kansas Medical Center Research Institute, Inc. (“KUMCRI”) and a directed issue of new shares to Kim Stratton, former CEO of the Company. The capital increase was decided pursuant to the Board of Directors’ authorization laid down in Article 3.2 and 3.3 of the Articles of Association. According to the license agreement entered into on October 31, 2017 between among others the Company and KUMCRI, the Company shall, following the end of each calendar year, issue or otherwise deliver to KUMCRI a total number of shares equal to half of the aggregate amount of cash funding that KUMCRI has reported to have spent under the grant from the US Food and Drug Administration received with respect to the Company’s on-going Phase 2/3 clinical trial on arimoclomol for the treatment of sIBM. On the basis of a financial report of expenditures provided by KUMCRI, the Company will issue 22,553 new shares each with a nominal value of DKK 1, equal to approximately 0.065% of its total share capital, in favor of KUMCRI. Accordingly, the Company’s share capital will be increased by nominally DKK 22,553 by way of an issue of bonus shares at par value by transfer of DKK 22,553 from the Company’s distributable reserves. The number of shares to be delivered to KUMCRI has been calculated based on the average closing price of the Company’s shares on Nasdaq Copenhagen during a 30-day period preceding January 29, 2021. According to agreements entered into between Kim Stratton and the Company, Kim Stratton is entitled to receive a grant of 58,000 shares at a subscription price of DKK 1 per share as the conditions related to the grant have been met. Thus, the Company will issue 58,000 new shares each with a nominal value of DKK 1, and the share capital will be increased by nominally DKK 58,000. Accordingly, the Company will issu a total of 80,553 shares, and the Company’s share capital will in total be increased by nominally DKK 80,553, equal to approximately 0,23% of the Company’s existing share capital. The new shares are negotiable instruments and will in every respect carry the same rights as the existing shares from the time of registration of the capital increase with the Danish Business Authority (which is expected to occur today). The new shares are expected to be admitted to trading and official listing on Nasdaq Copenhagen in the week commencing March 1, 2021. Following the share capital increase, the total nominal share capital will be DKK 34,948,387, divided into 34,948,387 shares each with a nominal value of DKK 1. Each share carries one vote at the Company's general meetings and accordingly the total number of voting rights in the Company will be 34,948,387. Updated Articles of Association can be found at www.orphazyme.com. For additional information, please contact Orphazyme A/S Anders Vadsholt, CFO +45 28 98 90 55 About Orphazyme A/S About arimoclomol? Forward-looking statement Attachment |