NEOS AB The board of directors in
Background
The Company has been in a significant capital need for a long time. The Company has explored various financing options, including bridge loans and rights issues. Despite the completion of both bridge loans and rights issues, the Company remains in significant need of capital. Given the Company's share price, it is challenging to raise the necessary capital. If the necessary capital cannot be raised, the company risks to be declared bankrupt.
On
The board of directors has made the assessment that the Company has greater opportunities to raise the necessary capital if the Company is delisted, inter alia due to the Company’s limited market value. Furthermore, delisting would result in cost reductions as ongoing listing expenses are eliminated and requirements regarding the Company’s organization and disclosure obligations decrease.
However, the board of directors is aware that delisting will complicate shareholders’ trading possibilities of the shares. Therefore, the board of directors strives towards finding an alternative that will facilitate the trading possibilities even after a delisting. For example, the board of directors is in contact with an external company that provides services for trading in unlisted shares. The board of directors views such an arrangement positively and will continue the contacts with said company. Thus, the board of directors has carefully considered the suitability of an application for delisting and has, after an overall assessment, concluded that a delisting is the best solution for the Company and its shareholders.
However, the board of directors does not intend to apply for delisting if it turns out that the Company’s shareholders do not support such a resolution, which is why the board of directors proposes that the general meeting resolves on the delisting. In this context, the board of directors also emphasizes that the proposal must be supported by all shareholders present at the general meeting and that these together represent at least nine-tenths of all the shares in the Company for the board of directors to submit an application.
Proposal
Therefore, in light of the above, the board of directors proposes that the general meeting resolves that the Company shall apply for delisting of the Company’s share from Nasdaq Stockholm.
Provided that the resolution is made with necessary majority requirement, the board of directors will submit an application on delisting to Nasdaq Stockholm. After a resolution to delist, the Company will announce the last day of trading of the share.
The notice of the annual general meeting will be announced in a separate press release.
For further information, please contact:
Matilda Salén, CEO
About
About NeoNavia®
NeoNavia® is the trade name for the complete biopsy system intended for use in ultrasound-guided sampling. NeoNavia® consists of a base unit, a hand unit, and three types of biopsy needles. The pulse technology drives the respective needle type, which facilitates needle insertion and placement in the suspected tumor. The system is designed to offer physicians and patients precise and robust tissue sampling for accurate diagnosis and individualized treatment.
About the pulse technology
The patented pulse technology is based on a pneumatically driven mechanism that enables high precision and control when inserting and positioning the biopsy needle, regardless of tissue type. The pneumatic drive unit that generates pulses is located in a hand-held instrument. With power from the base unit, the hand-held driver accelerates the biopsy needle with great control, even over short distances, enabling a distinct step-by-step insertion without affecting the surrounding tissue. This enables good access and flexibility in sampling, even in tiny and tricky localized tumors.
For more information, please visit Neodynamics.com.
© Modular Finance, source
