Suresnes, April 2, 2024 – 8 p.m. CET – Néovacs (Euronext Growth Paris: ALNEV), a biopharmaceutical company at a preclinical stage developing new therapies for inflammatory and autoimmune diseases, announces that the Board of Directors, on the basis of the 8th resolution voted at the General Meeting of June 30, 2023, decided to carry out a capital reduction motivated by losses by reducing the par value of the Company’s share.
The par value of the share is reduced from 1.00 euros to 0.10 euros. The share capital of the Company, divided into 397,097 shares, is reduced from 397,097.00 euros to 39,709.70 euros.
ABOUT NEOVACS
Néovacs is a French biotechnology company which conducts a dual activity of R&D and investment. Its own products are vaccine candidates developed from its kinoid® technology platform in lupus and allergies. The innovative approach uses the patient’s immune system to regulate harmful overproduction of cytokines (active immunotherapy) such as IL-4/IL-13/IgE. At the same time, the Company uses its internal expertise to invest in innovative Biotech and Medtech companies with high potential.
For more information: www.neovacs.fr
Jérôme FABREGUETTES-LEIB
Investor Relations
01 53 67 36 78
Anne-Charlotte DUDICOURT
Financial Press Relations
06 24 03 26 52
Warning :
The company Néovacs has set up (i) financing in the form of OCEANE-BSA with the company European High Growth Opportunities Securitization Fund, which, after receiving the shares resulting from the conversion or exercise of these instruments, n is not intended to remain a shareholder of the company, and (ii) financing in ORA which have all been transferred to a trust, which is now responsible for their equitization.
The shares resulting from the conversion or exercise of the above-mentioned securities are generally sold in the market at very short notice, which can create strong downward pressure on the share price. In the specific case of the trust, the shares are sold on the market according to the terms set out in the trust agreement.
Shareholders may suffer a loss of their invested capital due to a significant decrease in the value of the company’s stock, as well as significant dilution due to the number of securities issued to the company European High Growth Opportunities Securitization Fund and/or trust.
Investors are advised to be very vigilant before making the decision to invest (or remain invested) in the securities of the company admitted to trading which carries out such dilutive financing transactions, particularly when they are carried out successively. The company recalls that this dilutive financing operation is not the first that it has implemented.
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