1. Report to the Police
On April 30, 2009 Morphic submitted a report to the Swedish Economic Crime Authority, which has since referred the case to the Örebro Police Authority.
The background is as follows:
On March 19, 2009, in the course of work on Morphic’s year-end financial statements for 2008, the company’s auditor, Michael Bengtsson from PricewaterhouseCoopers, notified the Board in writing that he had become aware of certain circumstances that he wanted the Board to comment on.
After further examination, the auditor wrote to the Board again on April 14, 2009 stating that there was cause to suspect obstruction of tax controls. He also pointed out that he was legally obliged to step down as auditor of Morphic and report a suspected crime to a prosecutor within four weeks of notifying Morphic of his suspicion. However, this could be avoided if Morphic itself reported the suspected crime to a prosecutor, which it did.
2. Complaint Filed
In view of the complaint against Morphic submitted to the District Court of Värmland by the former Board Directors Peter Enå and Kurt Dahlberg and affiliated companies on May 19, 2009, the company wishes to affirm that the Board resolution of May 11, 2009 on the issue of new shares was made in a correct manner. Morphic’s Board of Directors had an authorization from the AGM on October 20, 2008 to decide on the issue of new shares against cash payment and in derogation of existing shareholders’ pre-emption rights.
Morphic Technologies AB (publ)
For further information, please contact:
Johannes Falk, +46 (0)706 76 7393