20 Jul Listing of shares due to change in par value & reverse split of the Company’s shares
Peania, 20 July 2022 – Lavipharm S.A. (hereinafter the “Company”) informs the investment community that the Annual Shareholders Meeting held on 30 June 2022 decided, among other, to:
(1) Increase share capital, through capitalisation of part of the share premium reserve above par, by EUR 81,037,877.00 and to increase the par value of existing shares from EUR 1 to EUR 2.58645738.
(2) Reduce share capital by EUR 127,010,804.00 by reducing the par value of existing shares from EUR 2.58645738 to EUR 0.10 for the purpose of offsetting losses of the same amount.
(3) Increase the share’s par value from EUR 0.10 per share to EUR 0.30 per share, with concurrent reduction of the total number of shares in the Company from 51,081,030 to 17,027,010 common registered voting shares through consolidation of the old shares at a ratio of three (3) old shares of the Company to one (1) new share of the Company.
Decision No 2659283/08.07.2022 of the Directorate of Companies (Department of Supervision of Listed Sociétés Anonymes & Sports Sociétés Anonymes) of the Secretariat General for Trade and Consumer Protection of the Ministry of Development and Investments was entered in the General Commercial Registry on 8 July 2022, approving the amendment of article 5 of the Company’s Articles of Association.
At its meeting of 20 July 2022, the Athens Stock Exchange Corporate Acts Committee (a) was informed about the share capital increase and decrease through an increase and decrease of the par value from EUR 1 to EUR 0.10, and (b) approved the listing for trading on the ASE of the above 17,027,010 new common registered voting shares with a par value of EUR 0.30 each, replacing the existing 51,081,030 common registered shares.
By resolution of the Company, 25 July 2022 is designated as the last trading day of the Company’s 51,081,030 common registered voting shares on the ASE. As of the next business day, 26 July 2022, the trading of the Company’s shares is temporarily suspended in order for their replacement to be completed in accordance with the provisions above. The beneficiaries of the new shares are those registered with the Dematerialised Securities System (DSS) as holders of the shares on 27 July 2022 (Record Date). Trading of the 17,027,010 new common registered voting shares on the ASE at the final new nominal value of EUR 0.30 per share shall commence on 1 August 2022.
As of the same date, the new total of the Company’s shares traded on the ASE amounts to 17,027,010 common registered voting shares. Their starting price on the ASE will be determined in accordance with the ASE Regulation and decision No 26 of the BoD of the ASE as in force, and the new shares shall be credited to the shares and securities accounts of the shareholders on the DSS.
For further information, Shareholders may address their questions to the Company’s Investor Relations Department, headed by Mr. Vassilis Baloumis (Tel: 210 6691 120).