Mandatory disclosure pursuant to Securities Trading Act section 4-2 byHealthCap V LP and OFCO Club V. Reference is made to the stock exchange notice of4 November 2021 byTargovax ASA ("Targovax ") announcing a fully underwritten rights issue of gross proceedsNOK 175 million (the "Rights Issue"), where each existing shareholder as of25 November 2021 (and being registered as such in theNorwegian Central Securities Depository (the "VPS") as at the expiry of29 November 2021 (the record date)) were granted 1.175114 subscription rights for each share registered as held by the shareholder. Each subscription right gives the right to subscribe for one new share inTargovax . The subscription period commenced on30 November 2021 and expires on14 December 2021 at16:30 CET . Following to the completion of the Rights Issue, the share capital ofTargovax will beNOK 18,832,659.1 divided into 188,326,591 shares. The calculations below are based on the new registered share capital and number of shares following completion of the fully underwritten Rights Issue. Rights to shares (subscription rights):HealthCap V LP and its close associate, OFCO Club V, cf. the Securities Trading Act section 2-5 (5) (the "Consolidated Parties") has, on2 December 2021 sold 9,250,000 subscription rights of their total holding of 14,577,926 subscription rights inTargovax (the "Disposal"). The Disposal is bringing the Consolidated Parties' total holding of subscription rights down from 14,577,926 (14.33%) to 5,327,926 (2.83%) of the total number of shares and voting rights inTargovax after completion of the Rights Issue. The Consolidated Parties are thereby crossing the 5% threshold with regards to the subscription rights. Shares: In addition to the subscription rights the Consolidated Parties, as of2 December 2021 , holds 12,405,584 shares and voting rights inTargovax ASA , corresponding to 6.59% of the shares and voting rights inTargovax after completion of the Rights Issue. The Consolidated Parties are thereby crossing the 10% threshold from 14.33% with regards to the shares. Aggregate holding of shares and rights to shares: The Consolidated Parties' subsequent aggregate holding of shares and subscription rights inTargovax after the Disposal is reduced from 26,983,510 (14.33%) to 17,733,510, corresponding to 9.42% of the total number of shares and voting rights inTargovax after completion of the Rights Issue, and the Consolidated Parties are thereby crossing the 10% threshold. See also attachment. www.newsweb.no
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