(Boursier.com) — Pharnext SCA, a biopharmaceutical company at an advanced clinical stage developing new therapies for neurodegenerative diseases without a satisfactory therapeutic solution, announces that it has decided to implement a consolidation of the shares making up its share capital, at the rate of 1 new share against 10,000 old shares.
Making use of the delegation granted to it by the General Meeting on June 30, 2023, the management of the Company has decided to implement this merger, the operations of which will begin on January 15, 2024, and end on February 14, 2024. , the first day of trading of the new grouped Pharnext shares being February 15, 2024. The main characteristics are as follows:
*Number of shares subject to consolidation: 1,738,816,429 shares;
*ISIN code for old, non-consolidated shares: FR001400JXB0;
*Exchange ratio: 1 new share against 10,000 old shares;
*Number of shares to result from the consolidation: 173,881 shares;
*ISIN code of the new consolidated shares: FR001400N1P4.
The regrouping is a share exchange operation, with no impact on the amount of share capital: only the nominal value of the share and, correlatively, the number of shares in circulation, are modified.
This operation will have no impact on the overall value of Pharnext securities held in the portfolio by shareholders, with the exception of fractional shares. In practice, each shareholder will be automatically allocated by their financial intermediary 1 new share for each block of 10,000 old shares.
Shareholders holding a total number of shares forming an exact multiple of 10,000 will not have to take any action. Shareholders who do not have a number of old shares corresponding to a whole number of new shares (i.e. a multiple of 10,000 old shares) will have to make it their personal decision to purchase or sell the old shares forming fractional shares, in order to obtain a multiple of 10,000, until February 14, 2024 inclusive.
In application of articles L. 228-6-1 and R. 228-12 of the Commercial Code, at the expiration of a period of 30 days from February 19, 2024, the new shares which could not be allocated individually and corresponding to fractional rights will be sold on the Stock Exchange by financial intermediaries and the sums arising from the sale will be distributed proportionally to the fractional rights of the holders of these rights. The notice relating to the consolidation of shares is published today in the Bulletin des Annonces Légales Obligatoires available on the site https://www.journal-officiel.gouv.fr/pages/balo/.
All operations relating to the consolidation will take place with Euronext Paris.
As part of the implementation of this consolidation, the holders of securities giving access to the company’s capital, and whose exercise period is in progress, are informed that, in accordance with the provisions of articles L. 225-149 -1 and R.225-133 of the Commercial Code, the exercise of securities giving access to capital is suspended from February 9, 2024 to February 15, 2024 (inclusive).
Following the consolidation of shares, in order to preserve the rights of holders of securities and other rights giving access to capital (VMDAC), the exercise parity will be adjusted according to the terms described in the notice of the consolidation of shares.