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
- Start of the reverse split on
Thursday, January 26, 2023 - Consolidation takes effect on
Monday, February 27, 2023 - Suspension of the right to exercise the securities giving access to the capital from
Tuesday, January 10, 2023 (inclusive) toFriday, February 24, 2023 (inclusive)
Éragny-sur-
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
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
- Basis of the reverse split: exchange of three thousand seven hundred (3,700) old ordinary shares with a par value of
one euro cent (€0.01) per share for one (1) new share with a par value ofthirty-seven euros (€37) per share and current dividend rights.
- Number of shares subject to the reverse split: one billion four hundred and fifteen million two hundred and thirty-six thousand nine hundred and eighteen (1,415,236,918) shares of €0.01 par value each.
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.
- Date of the reverse split: the reverse split will take effect on
February 27, 2023 , i.e. 30 days after the date of commencement of the reverse split operations
- Exchange period: thirty (30) days as from the date of commencement of the consolidation operations, i.e. from
January 26, 2023 toFebruary 24, 2023 inclusive
- Fractional shares: the conversion of the old shares into new shares will be carried out according to the automatic procedure.
- Fractional shares: the shareholders who do not have a number of old shares corresponding to a whole number of new shares will have to make their own purchase or sale of the old shares forming fractional shares in order to obtain a multiple of three thousand seven hundred (3,700) until
February 24, 2023 .
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
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
The ungrouped shares will be delisted at the end of the regrouping period.
- Voting rights: the new shares will immediately benefit from double voting rights, subject to being held in registered form, if on the date of the reverse split of the old shares from which they originate, each of these old shares benefited from double voting rights. In the event of a reverse split of old shares that have been registered since different dates, the period used to assess the double voting rights of the new shares will be deemed to begin on the most recent date on which the old shares were registered.
- Centralization: all transactions relating to the reverse stock split will take place at Uptevia (ex.
CACEIS Corporate Trust ), 12 place des États-Unis CS 40083 - 92549 Montrouge Cedex, appointed as agent for the centralization of the reverse stock split.
The shares subject to the reverse split will be admitted to trading on the Euronext Growth Paris market until
The shares resulting from the consolidation will be admitted to trading on the Euronext Growth Paris market as from
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
- Adjustment of the exercise parity of the Securities issued by the Company: in order to preserve the rights of the holders of the Securities issued by the Company, it is already foreseen that the exercise parity of the OCEANEs, of the BSAs, of the BSPCEs and of the AGAs will be adjusted by the Board of Directors of the Company following the reverse stock split.
- Timetable of the operations :
PERIOD OF SUSPENSION OF THE EXERCISE OF SECURITIES GIVING ACCESS TO THE CAPITAL | ||
Opening of the suspension period for the exercise of securities | ||
Closing of the suspension period for the exercise of securities | ||
SHARE EXCHANGE PERIOD | ||
Start of exchange operations | ||
End of exchange operations | ||
GROUPING OPERATIONS | ||
Last quotation of the old shares | ||
First quotation of the new shares | ||
Record date | ||
Allocation of the new shares | ||
BREAKAGE MANAGEMENT | ||
Start date for compensation of fractional shares by financial intermediaries | ||
Deadline for compensation by financial intermediaries |
The notice relating to the reverse stock split was published in the Bulletin des Annonces Légales Obligatoires on
About
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
For more information: www.safemedical.fr
Contacts
Chief Financial and Administrative Officer
Tél. : +33 (0)1 34 21 50 00
investors@safeorthopaedics.com
Press Relations
Ulysse Communication
Attachment
- 20230112 PR SAFE
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