Medigene Reports Results of Annual General Meeting
June 24 2024 - 11:05AM
- Shareholders
approve all proposed resolutions
- Re-election of two
members of the Supervisory Board
- Reduction of share
capital by consolidation of shares at a ratio of 2:1 approved
- Creation of new
authorized capital provide the Company with operational and
strategic flexibility
Planegg/Martinsried, June 24,
2024. Medigene AG (Medigene, the “Company”, FSE: MDG1,
Prime Standard), an immuno-oncology platform company focusing on
the discovery and development of T cell immunotherapies for solid
tumors, announces the results of the Annul General Meeting (AGM)
held today.
The shareholders of Medigene AG voted for the
regular re-election of the Chairman of the Supervisory Board Dr.
Gerd Zettlmeissl as well as Supervisory Board member Ronald Scott.
Furthermore, the shareholders approved the reduction of the
Company's share capital by means of a reverse share split at a
ratio of 2:1, increasing the Company's transaction capability. The
shareholders of Medigene AG also approved the resolutions on the
cancellation of Authorized Capital 2020/I with the simultaneous
creation of new Authorized Capital 2024/I of up to 4,421,279 shares
in total and the cancellation of Authorized Capital 2023/I with the
simultaneous creation of new Authorized Capital 2024/II of up to
2,947,518 shares in total, thus providing the Company with
operational and strategic flexibility. Furthermore, the Executive
Management Board and Supervisory Board of Medigene AG were
discharged for the 2023 financial year.
Selwyn Ho, CEO of Medigene, comments: "On behalf
of the Executive Management Board, I would like to thank the
shareholders of Medigene AG for their support. The approved
resolutions, in particular the capital reduction as well as the
creation of new authorized capital, improve Medigene's ability to
act on the capital market and support our corporate strategy. This
includes advancing the development of our differentiated T-cell
receptor-modified T-cell (TCR-T) therapies, most notably our lead
program MDG1015, as well as entering into new partnerships whereby
we can expand our End-to-End Platform to encompass additional
TCR-guided modalities such as TCR T cell engagers and TCR natural
killer cell therapies. We will continue to execute our strategy
step by step."
As described in the invitation to the Annual
General Meeting on May 17, 2024, as part of the ordinary capital
reduction in accordance with Sections 222 et seq. AktG, the share
capital of Medigene AG will be reduced by EUR 14,737,594.00 to EUR
14,737,594.00 by consolidating the issued no-par value shares at a
ratio of 2:1 from 29,475,188 to 14,737,594 shares. The value of the
company will not be changed by this measure. As an accounting
measure, the reduction will result in a reclassification on the
liabilities side of Medigene AG’s commercial balance sheet from
“subscribed capital” to “capital reserves”. The aim is to raise the
market value of the share significantly above the notional par
value of EUR 1.00 again and to increase Medigene AG's transaction
capability with regard to the minimum issue price of EUR 1.00 in
accordance with Section 9 (1) AktG as a precautionary measure,
without any specific capital measures currently being planned.
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About Medigene AG
Medigene AG (FSE: MDG1) is an immuno-oncology
platform company dedicated to developing differentiated T cell
therapies to effectively eliminate cancer. Its End-to-End Platform
consists of multiple proprietary and exclusive technologies that
generate optimal T cell receptors, armor and enhance these T cells
to overcome the immunosuppressive tumor microenvironment (TME), and
ensure the T cells drug product composition maximizes safety,
efficacy and durability of response. This creates potential
best-in-class, T cell receptor engineered T cell (TCR-T) therapies
to treat multiple solid tumor indications for both its in-house
product pipeline and partnering. Medigene’s lead TCR-T program
MDG1015 is on track for IND filing in Q3 2024 and CTA filing in Q4
2024. For more information, please visit https://medigene.com/
This press release contains forward-looking
statements representing the opinion of Medigene as of the date of
this release. The actual results achieved by Medigene may differ
significantly from the forward-looking statements made herein.
Medigene is not bound to update any of these forward-looking
statements. Medigene® is a registered trademark of Medigene AG.
This trademark may be owned or licensed in select locations
only.
Medigene AG
Pamela KeckPhone: +49 89 2000 3333 01E-mail:
investor@medigene.com
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