LUND, Sweden ,
Dec. 7, 2020 /PRNewswire/ -- At
the Extraordinary General Meeting of BioInvent International AB
(publ) ("BioInvent") on 27 November
2020, a reverse share split was resolved upon, whereby
twenty-five existing shares will be consolidated into one new share
(Sw. sammanläggning 1:25). The Board of
Directors was authorized to determine the record date for the
reverse share split.
The Board of Directors has now determined that the record date
for the reverse share split will be 15 December 2020, which
means that the last day for trading in the share prior to the
reverse share split is 11 December 2020, and the first day for
trading in the share after the reverse share split is
14 December 2020. This means that the share price as from and
including 14 December 2020 will
reflect the effect of the reverse share split.
The reverse share split will result in a decrease of shares in
the company from 984,402,407 to 39,376,096. The reverse share split
will result in a change of the share's par value from SEK 0.08 to approximately SEK 2.00.
As a result of the reverse share split, the shares in BioInvent
will as from and including 14 December
2020 change ISIN code. The new ISIN code is
SE0015244520.
The reverse share split of the company's shares will be effected
automatically via Euroclear Sweden AB and shareholders do not need
to take any action. If a shareholders' holding of shares does not
correspond to a full number of new shares, the excessive shares
will pass to the company at the record date and excessive shares
will thereafter be sold by Aktieinvest FK AB at the company's
expense, whereby concerned shareholders automatically will receive
their part of the sales proceeds. Payment of the sales proceeds is
expected to take place around 7 January
2020.
About BioInvent
BioInvent International AB (OMXS: BINV) is a clinical stage
company that discovers and develops novel and first-in-class
immuno-modulatory antibodies for cancer therapies, with two
ongoing programs in Phase l/ll clinical trials for the
treatment of hematological cancer and solid
tumors, respectively. Two preclinical programs in solid tumors
are expected to have entered clinical trials by the end of 2020.
The company's validated, proprietary F.I.R.S.T™ technology platform
simultaneously identifies both targets and the antibodies that bind
to them, generating many promising new drug candidates to fuel the
company's own clinical development pipeline or for additional
licensing and partnering.
The company generates revenues from research collaborations and
license agreements with multiple top-tier pharmaceutical companies,
as well as from producing antibodies for third parties in the
company's fully integrated manufacturing unit. More information is
available at www.bioinvent.com.
For further information, please contact:
Martin Welschof, CEO
+46 (0)46 286 85 50
martin.welschof@bioinvent.com
BioInvent International AB (publ)
Co. Reg. No. Org nr: 556537-7263
Visiting address: Sölvegatan 41
Mailing address: 223 70 LUND
Phone: +46 (0)46 286 85 50
www.bioinvent.com
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The following files are available for download:
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https://mb.cision.com/Main/583/3249985/1344907.pdf
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Press release
(PDF)
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