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LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Copyright © 2015 - 2022 Lifecarenews.in
LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
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Safe announces the reverse stock split of 1 new share for 3,700 existing shares
► Consolidation by way of exchange of 3,700 existing shares for 1 new share
Éragny-sur-Oise, France, January 12, 2023, 5:30 p.m. – Safe (FR0013467123 – ALSAF), a group specializing in the design, manufacture and marketing of ready-to-use technologies for orthopedic surgery, particularly for back surgery (the “Company”) announces today that its Board of Directors has decided, at its meetings held on December 21, 2022 and January 9, 2023, to implement a reverse stock split of the Company’s share capital, in the ratio of 1 new share with a par value of 37 euro for 3. 0.01, as authorized by the General Shareholders’ Meeting of December 16, 2022 in its first resolution (following an amendment made during the meeting of the General Shareholders’ Meeting).
This consolidation is intended to reduce the volatility of the Safe share price and to promote its stabilization.
Translated with www.DeepL.com/Translator (free version)
The reverse split is a share exchange transaction, without any impact on the amount of the share capital: only the par value of the shares and, consequently, the number of outstanding shares, are modified.
The reverse stock split will begin on Thursday, January 26, 2023 and end on Friday, February 24, 2023, and the new consolidated shares will be listed as from Monday, February 27, 2023.
All other things being equal, this transaction will have no impact on the overall value of the Safe shares held by the shareholders, with the exception of fractional shares (see section Fractional shares).
The main characteristics of this consolidation are, as of the date of this press release, as follows
Number of shares to be issued as a result of the reverse split: three hundred and eighty-two thousand four hundred and ninety-six (382,496) shares with a par value of € 37 each.
It is indicated that a shareholder of the Company has expressly waived the consolidation of one thousand seven hundred and eighteen (1,718) old shares in order to allow the application of the exchange ratio to a whole number of shares. Its one thousand seven hundred and eighteen (1,718) old shares will therefore be cancelled.
After this period, the shareholders who would not have been able to obtain a multiple of three thousand seven hundred (3,700) shares will be compensated within thirty (30) days as from February 27, 2023 by their financial intermediary.
In application of articles L. 228-6-1 and R. 228-12 of the French Commercial Code, at the end of a period of thirty (30) days as from January 26, 2023, the new shares which could not be allotted individually and corresponding to fractional shares will be sold on the stock exchange by the account holders and the sums resulting from the sale will be distributed in proportion to the fractional rights of the holders of these shares.
The ungrouped shares will be delisted at the end of the regrouping period.
The shares subject to the reverse split will be admitted to trading on the Euronext Growth Paris market until February 24, 2023, the last day of trading.
The shares resulting from the consolidation will be admitted to trading on the Euronext Growth Paris market as from February 27, 2023, the first day of trading.
Suspension of the rights of holders of securities giving access to the Company’s capital: in order to facilitate the consolidation operations, as permitted by the provisions of Article L. 225-149-1 of the French Commercial Code and in accordance with the delegation of powers granted by the General Meeting of December 16, 2022, the Board of Directors decided unanimously at its meetings of December 21, 2022 and January 9, 2023 to suspend the right to exercise the rights attached to all (i) the bonds convertible into new shares of the Company (the “OCEANE”) issued under the financing agreement entered into with European High Growth Opportunities Securitization Funds on December 10, 2021 (ii) warrants to subscribe for shares (“BSA”) issued by the Company between 2012 and 2018, (iii) warrants to subscribe for business creators’ shares (“BSPCE”) issued between 2010 and 2018 by the Company and (iv) free share allocation plans in force, if any (the “AGAs” and, together with the OCEANEs, the BSAs and the BSPCEs, the “Securities”), and to give full powers to the Chairman to publish a notice of suspension in the BALO. The Board of Directors decided, at the same meeting, that the suspension of the Securities will take effect as from January 10, 2023 (inclusive) and will end on February 24, 2023 (inclusive).
PERIOD OF SUSPENSION OF THE EXERCISE OF SECURITIES GIVING ACCESS TO THE CAPITAL | ||
Opening of the suspension period for the exercise of securities | January 10th 2023 (included) | |
Closing of the suspension period for the exercise of securities | February 24th 2023 (included) | |
SHARE EXCHANGE PERIOD | ||
Start of exchange operations | January 26th2023 | |
End of exchange operations | February 24th2023 (included) | |
GROUPING OPERATIONS | ||
Last quotation of the old shares | February 24th2023 (included) | |
First quotation of the new shares | February 27th 2023 | |
Record date | February 28th2023 | |
Allocation of the new shares | March 1st 2023 | |
BREAKAGE MANAGEMENT | ||
Start date for compensation of fractional shares by financial intermediaries | March 1st 2023 | |
Deadline for compensation by financial intermediaries | March 30th 2023 (included) |
The notice relating to the reverse stock split was published in the Bulletin des Annonces Légales Obligatoires on January 11, 2023 and is available on the website https://www.journal-officiel.gouv.fr/pages/balo/ and on the Company’s website (section Investors > Press Release).
About Safe Group
Safe Group is a French medical technology group that brings together Safe Orthopaedics, a pioneer in ready-to-use technologies for spine pathologies, and Safe Medical (formerly LCI Medical), a medical device subcontractor for orthopaedic surgery. The group employs approximately 150 people.
Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at any time to the surgeon. These technologies are part of a minimally invasive approach aimed at reducing the risks of contamination and infection, in the interest of the patient and with a positive impact on hospitalization times and costs. Protected by 18 patent families, SteriSpineTM kits are CE marked and FDA approved. Safe Orthopaedics is headquartered in the Paris region (95610 Eragny-sur-Oise) and has subsidiaries in the United Kingdom, Germany, the United States and the Lyon region (Fleurieux-sur-l’Arbresle).
For more information: www.safeorthopaedics.com
Safe Medical produces implantable medical devices and ready-to-use instruments. It has an innovation center and two production sites in France (Fleurieux-sur-l’Arbresle, 69210) and in Tunisia, offering numerous industrial services: design, industrialization, machining, finishing and sterile packaging.
For more information: www.safemedical.fr
Contacts
Safe Group
François-Henri Reynaud
Chief Financial and Administrative Officer
Tél. : +33 (0)1 34 21 50 00
investors@safeorthopaedics.com
Press Relations
Ulysse Communication
Pierre-Louis Germain / +33 (0)6 64 79 97 51 / plgermain@ulysse-communication.com
Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com
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