Biofrontera AG Notice of Cancellation from Trading on AIM (3764M)
20 January 2016 - 6:00PM
UK Regulatory
TIDMB8F
RNS Number : 3764M
Biofrontera AG
20 January 2016
Biofrontera AG
("Biofrontera" or the "Company")
Notice of Cancellation from Trading on AIM
Leverkusen, Germany, 20 January 2016 - Biofrontera (FSE/AIM:
B8F), the biopharmaceutical company focusing on sun-induced skin
cancer, announces that the Company has decided to cancel the
admission of its ordinary shares to trading on the AIM Market of
the London Stock Exchange ("AIM") (the "Cancellation") with effect
from 7.00am (GMT) on 18 February 2016 (the "Cancellation
Date").
The last trading day on AIM will be 17 February 2016. Up to and
including this date, the Company's shares will continue to be
traded on AIM and the Prime Standard of the Frankfurt Stock
Exchange operated by Deutsche Börse AG ("Frankfurt") on an
uninterrupted basis.
This decision has been made following a review of the Company's
AIM listing by the Board. Given the composition of the Company's
shareholder base, as well as the very low volume of trading in
shares on AIM, the Board has concluded that the costs incurred in
maintaining a secondary listing on AIM, exceeds the benefits
obtained from the listing. On this basis, the Board considers it in
the best interests of the Company and all shareholders to seek a
cancellation of its shares from trading on AIM.
Biofrontera will continue to maintain its Frankfurt listing and
shareholders wishing to trade the Company's shares after the
Cancellation Date will be able to do so on the Frankfurt Stock
Exchange. Accordingly, the Cancellation is not subject to
shareholder approval.
Further Information
Following the cancellation of the Company's admission to trading
on AIM, the Depositary Interests ("DI") which have been trading on
AIM will be cancelled on or around 22 February 2016 (the "Effective
Date"). The Company will continue to be admitted to the Prime
Standard of the Frankfurt Stock Exchange and the Company's
securities will continue to be traded on the Frankfurt Stock
Exchange. As a result, DI holders on the UK register should not be
materially prejudiced as a result of the delisting from AIM.
Computershare, as the Company's UK Depositary, will shortly be
writing to each DI holder in the UK to advise them of the process
in more detail.
Holders of DIs will have two options:
Option 1
Prior to the Effective Date, DI holders may request cancellation
of their DIs and the transfer of the underlying shares to an
account of a brokerage firm authorised to carry out business on the
Frankfurt Stock Exchange.
Option 2
If DI holders take no action, their current DIs will be
cancelled automatically on the Effective Date. Computershare will
then transfer their underlying Shares to Crest International
Nominees Ltd, (acting on behalf of Euroclear UK & Ireland
Limited) (the new "Custodian"), who shall then issue CREST
Depositary Interests ("CDIs") to them in respect of their
underlying shareholdings.
For further details please contact Computershare Investor
Services PLC by
telephone on: + 44 (0) 370 889 3129; or by
fax on: + 44 (0) 370 889 3120; or by
email to: !ALLUKGlobalTransactionTeam@computershare.co.uk
Ends
Enquiries, please contact:
Biofrontera AG +49 (0) 214 87
Thomas Schaffer, Chief Financial 63 2 0
Officer press@biofrontera.com
www.biofrontera.com
IR Germany: Brainwell Asset
Solutions
Jürgen Benker +49 (0) 152 08931514
Nomad and Broker: Shore
Capital +44(0) 20 7408
Bidhi Bhoma / Toby Gibbs 4090
IR UK: Seton Services +44(0) 20 7729
Toni Vallen 0805
+44(0) 20 7193
Financial PR: Gable Communications 7463
John Bick / Justine James +44 (0)7872 061007
Background:
Biofrontera Group (FSE/AIM: B8F, ISIN DE0006046113) is a
biopharmaceutical company specialising in the development, sale and
distribution of drugs and medical cosmetics for the care and
treatment of skin diseases. Biofrontera's most important product is
Ameluz(R) , a prescription drug which is approved in Europe for the
treatment of mild and moderate actinic keratosis (superficial skin
cancer) with photodynamic therapy (light therapy). Biofrontera is
the first German pharmaceutical start-up company to obtain
centralised approval for a drug it has developed itself. The
company also plans for Ameluz(R) to be approved for basal cell
carcinoma and is currently preparing for approval in other
countries, especially in the largest pharmaceutical market in the
world, the United States.
The company also markets the Belixos(R) dermatological range of
cosmetics. Belixos(R) products, a cream, a gel and a scalp tonic,
contain combinations of active substances extracted from plants,
relieve itching and redness and are used for the regenerative care
of chronic skin conditions such as atopic dermatitis or psoriasis.
The Belixos(R) Protect, a daily skincare for sun-damaged skin,
complements this dermo-cosmetic line. All products are available
through Amazon.
The Biofrontera Group was established in 1997 by Prof. Dr
Hermann Lübbert, the Chairman of the company's Management Board,
and has its headquarters in Leverkusen, Germany.
www.biofrontera.com
This communication expressly or implicitly contains certain
forward-looking statements concerning the business activities of
Biofrontera AG. These forward-looking statements reflect the
opinion of Biofrontera at the time of this communication and
involve certain known and unknown risks. The actual results
achieved by Biofrontera may differ significantly from future
results or performances which are published in its forward-looking
statements. Biofrontera assumes no responsibility to update its
forward-looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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