PHAXIAM Therapeutics announces the completion of its reverse share split
18 September 2023 - 4:00PM
PHAXIAM Therapeutics announces the completion of its reverse share
split
PRESS RELEASE
PHAXIAM Therapeutics
announces the completion
of its reverse share
split
Lyon (France) and
Cambridge (MA, US), September
18th,
2023 - PHAXIAM
Therapeutics (Nasdaq & Euronext:
PHXM)
(the
"Company"),
announces the
completion today
of the reverse share
split of the shares composing the
Company's share capital, as decided
by the Executive
Director on July
27th, 2023,
following sub-delegation granted
by the Board of Directors on
June 23rd,
2023, made in accordance with the twenty-third extraordinary
resolution of the General
Shareholders' Meeting of June
23rd,
2023.
The reverse share split involved 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").
The main features of this reverse share split,
as detailed in the notice of reverse share split published in the
Bulletin des Annonces Légales Obligatoires (BALO) on July 31st,
2023 and in the press release published by the Company on July
27th, 2023, are as follows:
- 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
resulting from 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.
- Listing
of the New Shares: the New Shares resulting from the
reverse share split have been admitted to trading on the Euronext
regulated market in Paris, with effect from today, the first day of
trading, and have been assigned a new ISIN code
(FR001400K4B1).
Shareholders who were unable to obtain a number
of shares that is a multiple 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 next steps of the reverse share split will
take place according to the following indicative timetable:
September 18th,
2023 |
Listing of the New Shares |
September 19th
2023 |
Book-entry of the New Shares (Record date) |
September 20th,
2023 |
Date of payment-delivery of the New Shares |
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. In connection
with the reverse share split described above, The Bank of New York
Mellon (“BNY Mellon”), depositary for the Company’s American
Depositary Receipt (“ADR”) program, will effect a reverse stock
split on such ADR program with an effective date of September 18,
2023. Effective September 18, 2023, ADR holders of the Company will
be required on a mandatory basis to surrender their old ADR(s) to
BNY Mellon for cancellation and exchange to receive one (1) new
American Depositary Share (“ADS”) (CUSIP: 29604W207) for every ten
(10) old ADSs (CUSIP: 29604W108). Holders of ADSs in the Direct
Registration System or in brokerage accounts will have their ADRs
automatically exchanged and need not take any action. No fraction
of an ADS will be issued. BNY Mellon will attempt to sell any
fractions and distribute the cash proceeds to ADR holders.
***
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 /
Dusan OresanskyInvestors Relations
Arthur Rouillé Medias
Relations+33 1 44 71 94 94phaxiam@newcap.eu |
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