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Santhera's Board of Directors Submits Amended Proposal to its Extraordinary General Meeting on December 11, 2018
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.
Agenda and amended proposal are available on the Company's website at www.santhera.com/investors-and-media/investor-toolbox/shareholder-meetings.
Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative medicines for rare and other diseases with high unmet medical needs. The portfolio comprises clinical stage and marketed treatments for neuro-ophthalmologic, neuromuscular and pulmonary diseases. Santhera's Raxone® (idebenone) is authorized in the European Union, Norway, Iceland, Liechtenstein and Israel for the treatment of Leber's hereditary optic neuropathy (LHON) and is currently commercialized in more than 20 countries. For further information, please visit www.santhera.com.
Raxone® is a trademark of Santhera Pharmaceuticals.
For further information please contact:
Eva Kalias, Head External Communications
Phone: +41 78 671 98 86
Christoph Rentsch, Chief Financial Officer Hans Vitzthum, LifeSci Advisors
Europe: +41 61 906 89 65 US: +1 212 915 2568
Disclaimer / Forward-looking statements
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Santhera Pharmaceuticals Holding AG. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
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