- Pressemitteilung BoxID 538906
4SC announces implementation of 5:1 reverse share split in line with planning
Stock quotation changed on 27 April 2015 / 4SC shares allocated a new ISIN (DE000A14KL72) and WKN (A14KL7)
Effective its recent entry in the commercial register, the share capital of 4SC AG was lowered from EUR 50,849,206.00 to EUR 10,169,841.00, divided into 10,169,841 no-par value bearer shares as previously announced. The capital reduction does not alter the amount of total assets or equity, nor does it affect the individual shareholders' percentage share in the Company.
The stock quotation was changed at the start of share trading on 27 April 2015. In the 5:1 conversion, five old no-par value shares were replaced with one converted no-par value share. The converted 4SC shares are now traded on the stock exchanges under the new international securities identification number (ISIN) DE000A14KL72 and the new German securities identification number (WNK) A14KL7. The share price symbol VSC has been retained.
Shareholders who held a number of no-par value shares not divisible by five prior to the conversion will have fractional amounts registered to them under ISIN DE000A14KL64. By 18 May 2015 at the latest, the share fractions registered to the shareholders will be rounded off into full legal rights (settlement of fractions), which will be registered to the shareholders, provided a corresponding buy or sell order has been made. To carry out the required settlement of fractions, the shareholders of 4SC AG are therefore asked to instruct their respective custodian bank as soon as possible but no later than 18 May 2015 to settle any fractions.
Enno Spillner, CEO of 4SC AG, commented: "We are pleased that the capital reduction has been entered in the commercial register now and implemented as planned. This gives us a higher planning certainty and flexibility in exploring funding options so that we can expedite our plans in the clinical development of our cancer compounds in order to further raise the value of our projects and our enterprise."
Cautionary statement regarding forward-looking statements
This press release contains certain forward-looking statements. Any forward-looking statement applies only on the date of this press release. By their nature, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may or may not occur in the future and as a result of which the actual results and performance may differ substantially from the expected future results or performance expressed or implied in the forward looking statements. No warranties or representations are made as to the accuracy, achievement or reasonableness of such statements, estimates or projections, and 4SC AG has no obligation to update any such information or to correct any inaccuracies herein or omission herefrom which may become apparent.
The Group managed by 4SC AG (ISIN DE000A14KL72) discovers and develops targeted, small-molecule drugs for treating diseases with high unmet medical needs in various cancer and autoimmune indications. These drugs are intended to provide innovative treatment options that are more tolerable and efficacious than existing therapies, and provide a better quality of life. The Company's pipeline comprises promising products that are in various stages of clinical development. 4SC's aim is to generate future growth and enhance its enterprise value by entering into partnerships with leading pharmaceutical and biotech companies. Founded in 1997, 4SC had a headcount of 66 employees (57 FTEs) at 31 December 2014. 4SC AG has been listed on the Prime Standard of the Frankfurt Stock Exchange since December 2005.
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