Oxurion Share Consolidation
Leuven, BELGIUM – July 25, 2024 – 06:00 PM CET Oxurion NV (Euronext Brussels: OXUR) (the Company), a biopharmaceutical company based in Leuven, announced today that its Board of Directors, authorized by the General Meeting of July 24, 2024, will proceed with a consolidation of all existing shares. This consolidation will be carried out at a ratio of one (1) new share for ten thousand (10,000) existing shares.
This share consolidation is a strategic step to increase the nominal value of the shares, simplify the capital structure, and improve the liquidity of shares in the market. Oxurion is enthusiastic about this new phase, which aligns with its long-term growth strategy and sustainable value creation for its shareholders. This initiative reflects its commitment to an optimal financial structure and its confidence in the solidity and future potential of Oxurion.
Anticipated benefits of the consolidation:
Details of the consolidation:
CONSOLIDATION OPERATION | |
Last trading day of old shares (code ISIN BE0003846632) |
September 2, 2024 |
Effective date of consolidation operations: Delisting of old shares (code ISIN BE0003846632) First trading of new shares under code: ISIN BE0974487192/ Mnémonic |
September 3, 2024 |
Record date | September 4, 2024 |
Delivery date of new shares (Payment date) |
September 5, 2024 |
MANAGEMENT OF OLD SHARES FORMING FRACTIONAL SHARES | |
Acquisition or sale of old shares by shareholders | Between July 26, 2024, and August 30, 2024 (included) |
Start date for compensation of fractional shares by financial intermediaries | September 6, 2024 |
End date for compensation of fractional shares by financial intermediaries | September 30, 2024
|
All operations related to the consolidation will take place at Euronext Brussels.
Treatment of multiples of 10,000: Shareholders holding a number of old shares forming a multiple of 10,000 have no steps or formalities to complete. These shares will be automatically consolidated by their financial intermediary at a ratio of one (1) new share for ten thousand (10,000) old shares.
Management of Fractional Shares: Shareholders who do not hold a number of old shares forming a multiple of 10,000 can buy or sell shares on the market to obtain this multiple between July 26, 2024, and August 30, 2024 (included).
At the end of this period, Financière d’Uzès, acting as the centralizing agent (see below), will handle the sale of new shares formed by the fractional shares on the market to compensate shareholders who do not hold a number of shares forming a multiple of 10,000 after August 30, 2024. The funds thus collected, minus any fees, will be paid to the relevant financial intermediaries.
These intermediaries will distribute the amount received among the concerned shareholders based on the number of old shares previously held no later than September 30, 2024, provided that the net proceeds to be received by a shareholder for their position with a financial intermediary is at least equivalent to 0.01 EUR.
Shareholders who do not have the required amount to obtain new shares and whose fractional share amount is less than 0.01 EUR (which is quite likely for a number of shareholders given the current share price of the Company of 0.0001 EUR) will not receive either shares or fractional shares in cash.
Example: A shareholder holding 10,500 old shares on August 30, 2024, will receive one new share on September 5, 2024, and the balance, i.e., 500 shares, will be consolidated with other old shares to form a new share which will be sold on the market.
The net proceeds from the sale of all these shares will be paid to the various financial intermediaries concerned, who will distribute the received portion among the different shareholders, provided that the net proceeds to be received by the concerned shareholder from a financial intermediary is at least equivalent to 0.01 EUR.
Delisting: Non-consolidated shares at the end of the consolidation period will be delisted.
Centralization: All operations related to the share consolidation will take place at Financière d’Uzès, 13 rue d’Uzès, Paris 75002, France, designated as the agent for the centralization of consolidation operations.
For any questions regarding the consolidation operations, a “Questions and Answers” document is available for shareholders on the site ir.oxurion.com.
About Oxurion
Oxurion (Euronext Brussels: OXUR) is engaged in developing next-generation standard of care ophthalmic therapies for the treatment of retinal disease. Oxurion is based in Leuven, Belgium. More information is available at www.oxurion.com.
Important information about forward-looking statements
Certain statements in this press release may be considered “forward-looking”. Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company’s Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of Oxurion in any jurisdiction. No securities of Oxurion may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.
Please contact for additional information:
Oxurion NV Pascal Ghoson Chief Executive Officer pascal.ghoson@oxurion.com
|
Attachments
FORT WORTH, Texas, Dec. 24, 2024 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL) today announced…
- Proprietary data and samples from TRACERx and Achilles’ Material Acquisition Platform (MAP) will be…
If you are male and in your 40's and 50's and feel your testosterone levels…
Transforming Anxiety into Positive Energy: A New Approach by The Anxiety ClinicBondi Junction, New South…
Embracing Mental Well-Being During the Festive SeasonCarlton North, Australia--(Newsfile Corp. - December 24, 2024) -…
If you are researching the strongest over the counter weight loss supplements in 2025 -…