PRESS RELEASE
PHAXIAM
Therapeutics announces
the completion
of
its reverse share
split
Lyon
(France) and Cambridge (MA, US)
,
September 18
th
,
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 27
th
, 2023
, following sub-delegation
granted
by
the Board of Directors on June
23
rd
, 2023, made in accordance with the twenty-third extraordinary resolution of the General
Shareholders
‘ Meeting of June 23
rd
, 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 AnnoncesLégalesObligatoires (BALO) on July 31st, 2023 and in the press release published by the Company on July 27th, 2023, are as follows:
-
Number of Existing Shar
es 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 18 th , 2023 |
Listing of the New Shares |
|
September 19 th 2023 |
Book-entry of the New Shares (Record date) |
|
September 20 th , 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 AnnoncesLégales 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
|
PHAXIAM Eric Soyer COO & CFO +33 4 78 74 44 38 [email protected] |
NewCap Mathilde Bohin / Dusan Oresansky Investors Relations ArthurRouillé Medias Relations +33 1 44 71 94 94 [email protected] |
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