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Santhera's Board of Directors Submits Amended Proposal to its Extraordinary General Meeting on December 11, 2018 | ||
By: Nasdaq / GlobeNewswire - 10 Dec 2018 | Back to overview list |
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Pratteln, Switzerland, December 10, 2018 - Santhera Pharmaceuticals (SIX: SANN) announces that its Board of Directors will submit an amended proposal to its upcoming Extraordinary General Meeting on December 11, 2018. As per the amendment and in line with the financing objective, the Board of Directors proposes to increase the share capital by up to CHF 5,000,000. As announced in the Invitation to the Extraordinary General Meeting (EGM) of Shareholders (dated November 20, 2018), Santhera intends to raise approximately CHF 50 million. To satisfy this capital need, the Board of Directors (BoD) originally proposed to increase the Company's ordinary share capital by a maximum of 3,500,000 registered shares with a nominal value of CHF 1 per share, which based on the prevailing share price at the time of announcement would have been sufficient to raise the targeted amount. In abidance of the Company's financing goal, the BoD is adjusting the proposed capital increase. Under the amended proposal, the BoD plans to increase the Company's ordinary share capital from CHF 7,527,479 by a new maximum of CHF 5,000,000 to a new maximum of CHF 12,527,479 through the issuance of up to 5,000,000 registered shares with a nominal value of CHF 1 per share. EGM agenda About Santhera Raxone® is a trademark of Santhera Pharmaceuticals. For further information please contact: Attachment |
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