PHAXIAM Therapeutics announces a reverse share split of its shares
July 27 2023 - 3:05PM
PHAXIAM Therapeutics announces a reverse share split of its shares
PRESS RELEASE
PHAXIAM
Therapeutics announces a
reverse share split of its
shares
- Reverse
share split by the exchange of ten (10) existing shares with a par
value of ten-euro cents (€0.10)
for one (1) new share with a par value of one euro
(€1)
-
Publication of the reverse share split notice in the BALO:
July 31st, 2023
- Start of
the reverse share split: August
16th, 2023
-
Effective date of the reverse share split (listing of new
shares):
September 18th, 2023
Lyon (France) and Cambridge (MA,
US), July
27th,
2023 -
PHAXIAM Therapeutics
(Nasdaq & Euronext:
PHXM) (the
"Company"), today announces the
implementation of the reverse share split
of the shares composing the
Company's share capital, by decision of
the Chief Executive
Officer on July
27th,
2023, following the
sub-delegation granted by
the Board of Directors on June
23rd, 2023, taken in accordance
with the twenty-third extraordinary resolution of the
General Shareholders' Meeting of
June 23rd,
2023.
REVERSE SHARE SPLIT OF
THE COMPANY'S SHARES
The reverse share split will result in the
exchange of ten (10) existing shares with a par value of ten-euro
cents (€0.10) (the "Existing
Shares") for one (1) new share with a par value of
one euro (€1) (a "New Share").
This reverse share split will have no impact on
the Company's share capital and will result in the division of the
number of shares outstanding by ten (10).
Terms of the implementation of the
reverse share split
All the terms and conditions of the reverse
share split were decided by the Chief Executive Officer on July
27th, 2023, pursuant to the sub-delegation granted by the Board of
Directors on June 23rd, 2023, and are detailed in the reverse
share split notice published in the Bulletin des Annonces Légales
Obligatoires (BALO) on July 31st, 2023.
- Date of beginning of the
reverse share split: August 16th, 2023
- Basis of the reverse share
split: exchange of ten (10) Existing Shares with a par
value of ten-euro cents (€0.10) for one (1) New Share with a par
value of one euro (€1) and current dividend rights.
- Suspension of the exercise
of rights or securities: the exercise of rights or
securities conferring access to the share capital is suspended from
August 16th, 2023, to September 15th, 2023 (inclusive).
- Number of Existing
Shares subject to the reverse
share-split: sixty million seven hundred
and fifty-one thousand and fifty-four (60,751,054) shares, each
with a par value of ten-euro cents (€0.10).
- Number of New
Shares to be issued as a result of the reverse
share split: six million seventy-five thousand one hundred
and five (6,075,105) shares with a par value of one euro (€1)
each.
The number of New Shares resulting from the
reverse stock split may be adjusted in the event that holders of
rights or securities giving access to the share capital exercise
them outside the period of suspension of their right to
exercise.
The definitive number of New Shares to be issued
as a result of the reverse share split will be recorded by the
Company's Board of Directors or by the Chief Executive Officer at
the end of the reverse share split.
- Exchange period:
from August 16th, 2023 to September 15th, 2023.
- Whole securities:
the conversion of Existing Shares into New Shares will be carried
out according to the automatic procedure (procedure d'office).
- Fractional shares:
shareholders who do not hold a number of Existing Shares
corresponding to a whole number of New Shares must personally
purchase or sell the fractional Existing Shares in order to obtain
a multiple of ten (10) until September 15th, 2023. After this
deadline, shareholders who have not been able to obtain a number of
shares in multiples of ten (10) will be compensated by their
financial intermediary in accordance with articles L. 228-6-1 and
R. 228-12 of the French Commercial Code and market practice.
The non-consolidated Existing Shares will be
delisted at the end of the exchange period.
- Voting rights:
during the exchange period referred to above, dividend rights and
voting rights attached to the New Shares and Existing Shares will
be proportional to their respective par values, it being specified
that:
- New shares with a par value of one
euro (€1) will immediately carry double voting rights, provided
they are held in registered form, if at the date of the reverse
share split the existing shares with a par value of €0.10 from
which they were issued carried double voting rights in accordance
with the provisions of the Company's bylaws; in the event of a
reverse share split of existing shares with a par value of €0.10
which have been registered in different dates, the period used to
determine double voting rights will be deemed to begin on the most
recent date on which the existing shares are registered;
- at the end of the exchange period,
the non-consolidated shares will lose their voting rights and will
no longer be included in the calculation of the quorum, and their
rights to future dividends will be suspended, it being specified
that the New Shares will then entitle their holders to one vote
each.
- Centralization:
All transactions relating to the reverse share split will take
place with Société Générale Securities Services, 32 rue du Champ de
Tir, CS 30812, 44308 Nantes Cedex 3, appointed as agent for the
centralization of reverse share split transactions.
The Existing Shares subject to the reverse share
split will be admitted to trading on the regulated market of
Euronext Paris under ISIN code FR0011471135, until September 15th,
2023, the last day of trading.
The New Shares resulting from the reverse share
split will be admitted to trading on the regulated market of
Euronext in Paris from September 18th, 2023, the first day of
trading, and will be assigned a new ISIN code.
- Adjustment of the exercise
parity of rights or securities giving access to the
capital: a subsequent notice will be published in the
Bulletin des Annonces Légales et Obligatoires (BALO) to specify the
terms of adjustment of the rights of holders of rights or
securities giving access to the capital.
Indicative
timetable:
July 31st, 2023 |
Publication of the reverse share split notice in the Bulletin des
Annonces Légales Obligatoires |
August 16th, 2023 |
Start of reverse share split transactions Possibility for
shareholders to buy and sell shares in order to obtain a number of
shares without fractional rights until September 15th, 2023 |
September 15th, 2023 |
Closing of the Exchange Period |
September 15th, 2023 |
Last trading day for the Existing Shares |
September 18th, 2023 |
Listing of the New Shares |
September 20th, 2023 |
Settlement-delivery of the New Shares |
***
About PHAXIAM
Therapeutics
PHAXIAM is a biopharmaceutical company
developing innovative treatments for resistant bacterial
infections, which are responsible for many serious infections. The
company is building on an innovative approach based on the use of
phages, natural bacterial-killing viruses. PHAXIAM is developing a
portfolio of phages targeting 3 of the most resistant and dangerous
bacteria, which together account for more than two-thirds of
resistant hospital-acquired infections: Staphylococcus aureus,
Escherichia coli and Pseudomonas aeruginosa.
PHAXIAM is listed on the Nasdaq Capital Market
in the United States (ticker: PHXM) and on the Euronext regulated
market in Paris (ISIN code: FR0011471135, ticker: PHXM). PHAXIAM is
part of the CAC Healthcare, CAC Pharma& Bio, CAC Mid &
Small, CAC All Tradable, EnterNext PEA-PME 150 and Next Biotech
indexes. For more information, please visit www.erytech.com
Contacts
PHAXIAMEric SoyerCOO & CFO+33
4 78 74 44 38investors@erytech.com |
NewCapMathilde Bohin /
Louis-Victor DelouvrierInvestor
RelationsArthur Rouillé Media
Relations +33 1 44 71 94 94phaxiam@newcap.eu |
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