Vivoryon Therapeutics N.V. Announces Completion of Share Capital Reduction and Change to Articles of Association
September 05 2024 - 11:12AM
UK Regulatory
Vivoryon Therapeutics N.V. Announces Completion of Share Capital
Reduction and Change to Articles of Association
Vivoryon Therapeutics N.V. Announces
Completion of Share Capital Reduction and Change to Articles of
Association
Halle (Saale) / Munich, Germany,
September 5, 2024 - Vivoryon Therapeutics
N.V. (Euronext Amsterdam: VVY; NL00150002Q7)
(Vivoryon, or the Company), a
clinical stage company focused on the discovery and development of
small molecule medicines to modulate the activity and stability of
pathologically altered proteins, today announced that it has
completed the reduction of its share capital by decreasing the
nominal value of the shares in the Company’s capital to EUR 0.01
from EUR 1.00.
The proposal of the Company’s Board of Directors
to amend the Company’s articles of association by, among other
items, decreasing the nominal value of the shares in the capital of
the Company to EUR 0.01 from EUR 1.00 was approved by the
shareholders at the 2024 annual general meeting (AGM), held on June
21, 2024. Following the completion of the creditor opposition
procedure in accordance with Dutch law, with no objection having
been filed, the Company has now implemented the share capital
reduction.
The purpose of the reduction in nominal value is
to improve the Company’s capability to attract new financing,
pursue M&A activities and incentivize management, members of
the Board and employees of the Company through granting equity
awards, and also improve the Company's equity composition, as set
out in the Company’s notice of annual general meeting published May
8, 2024.
The nominal value of the shares in the Company
is now EUR 0.01 each. The number of ordinary shares of the Company
in issue (included shares held in treasury) has not changed and
consists of 26,066,809 ordinary shares. The amount of the capital
reduction (being: EUR 0.99 per share that formed part of the
Company’s issued share capital) has been added to the Company’s
distributable reserves. The Company’s updated articles of
association have been posted on the Company’s website.
###
About Vivoryon Therapeutics
N.V.
Vivoryon is a clinical stage biotechnology company focused on
developing innovative small molecule-based medicines. Driven by its
passion for ground-breaking science and innovation, the Company
strives to change the lives of patients in need suffering from
severe diseases. The Company leverages its in-depth expertise in
understanding post-translational modifications to develop medicines
that modulate the activity and stability of proteins which are
altered in disease settings. The Company has established a pipeline
of orally available small molecule inhibitors for various
indications including Alzheimer’s disease, inflammatory and
fibrotic disorders, including of the kidney, and cancer.
www.vivoryon.com.
Vivoryon Forward Looking
Statements
This press release includes forward-looking statements,
including, without limitation, those regarding the business
strategy, management plans and objectives for future operations of
Vivoryon Therapeutics N.V. (the “Company”), estimates and
projections with respect to the market for the Company’s products
and forecasts and statements as to when the Company’s products may
be available. Words such as “anticipate,” “believe,” “estimate,”
“expect,” “forecast,” “intend,” “may,” “plan,” “project,”
“predict,” “should” and “will” and similar expressions as they
relate to the Company are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance; rather they are based on the Management’s
current expectations and assumptions about future events and
trends, the economy and other future conditions. The
forward-looking statements involve a number of known and unknown
risks and uncertainties. These risks and uncertainties and other
factors could materially adversely affect the outcome and financial
effects of the plans and events described herein. The Company’s
results of operations, cash needs, financial condition, liquidity,
prospects, future transactions, strategies or events may differ
materially from those expressed or implied in such forward-looking
statements and from expectations. As a result, no undue reliance
should be placed on such forward-looking statements. This press
release does not contain risk factors. Certain risk factors that
may affect the Company’s future financial results are discussed in
the published annual financial statements of the Company. This
press release, including any forward-looking statements, speaks
only as of the date of this press release. The Company does not
assume any obligation to update any information or forward-looking
statements contained herein, save for any information required to
be disclosed by law.
For more information, please contact:
Investor Contact
Vivoryon Therapeutics N.V.
Dr. Manuela Bader, Director IR & Communication
Tel: +49 (0)345 555 99 30
Email: IR@vivoryon.com
Media Contact
Trophic Communications
Valeria Fisher
Tel: +49 175 8041816
Email: vivoryon@trophic.eu
- 2024-09-05_VVY Share capital reduction
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