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SANTHERA PHARMACEUTICALS HOLDING AG

(SANN)
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Press Release: Santhera Publishes Agenda for its Annual General Meeting

05/27/2021 | 01:01am EDT
 
 
   Pratteln, Switzerland, May 27, 2021 -- Santhera Pharmaceuticals (SIX: 
SANN) announces the invitation to its Annual General Meeting (AGM), 
which will be held on June 22, 2021, at 10:30 hrs at the domicile of the 
Company. 
 
   Invitation and agenda items for the AGM 
 
   The invitation and agenda items for the Annual General Meeting can be 
viewed on Santhera's website at 
https://www.santhera.com/investors-and-media/investor-toolbox/share-bondholder-meetings. 
 
 
   Selected agenda items: 
 
   Share capital increases 
 
   As previously announced, the Board of Directors (BoD) proposes various 
capital increases to Santhera's shareholders at the forthcoming AGM. 
These should give the Company sufficient flexibility to raise additional 
capital to fund ongoing development activities, increase 
pre-commercialization activities and expand the organization in view of 
a US market launch of vamorolone in late 2022, subject to positive 
results of the pivotal VISION-DMD study. Specifically, the BoD proposes: 
 
 
   -- Ordinary capital increase by CHF 11,236,489 by issuing 11,236,489 fully 
      paid-in registered shares with a par value of CHF 1 each. 
 
   -- Increase of authorized capital by CHF 10,232,928 and its extension until 
      June 21, 2023. 
 
   -- Increase of conditional capital for financings by CHF 649,285. 
 
   -- Increase of conditional capital for employee participation from 
      CHF 2,537,052 by CHF 3,000,000 to CHF 5,537,052. 
 
 
 
   The figures above do not reflect any share issuances from authorized or 
conditional capital that have occurred or may occur before the AGM. 
 
   If the ordinary capital increase can be fully consummated within three 
months from the date of the AGM, then in a second step, both the 
authorized capital and the conditional capital for financing would be 
increased again by CHF 5,618,244 each. 
 
   Elections 
 
   The BoD proposes the re-election of Elmar Schnee, Philipp Gutzwiller, 
Thomas Meier and Patrick Vink as members of the BoD until the end of the 
ordinary AGM 2022. Elmar Schnee is proposed for re-election as Chairman 
of the BoD. 
 
   Martin Gertsch, member of Santhera's Board of Directors since 2006, 
thereof as Chairman until 2017 and Vice-Chairman for the two subsequent 
years, will not stand for re-election. The BoD and Executive Committee 
sincerely thank Martin for his great commitment and valuable 
contributions and wish him only the best for the future. 
 
   Additional motions submitted to the General Meeting include the 
following: 
 
 
   -- Approval of the annual financial statements and the consolidated 
      financial statements 2020 
 
   -- Allocation of the annual result and reserves 
 
   -- Consultative vote on the Compensation Report 2020 
 
   -- Discharge of the members of the Board of Directors and the Executive 
      Board for the 2020 financial year 
 
   -- Re-election of the members of the Compensation Committee 
 
   -- Approval of the compensation of the members of the Board of Directors 
 
   -- Approval of the compensation of the members of the Executive Board 
 
   -- Re-election of the auditors 
 
   -- Re-election of the independent proxy 
 
   COVID-19 
 
   Due to the extraordinary circumstances and in accordance with the 
applicable Covid-19 legislation, shareholders may exercise their rights 
at the AGM exclusively via the independent proxy. There is no 
possibility to attend the AGM in person. 
 
   About Santhera 
 
   Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical 
company focused on the development and commercialization of innovative 
medicines for rare neuromuscular and pulmonary diseases with high unmet 
medical need. Santhera has an exclusive license for all indications 
worldwide to vamorolone, a first-in-class dissociative steroid with 
novel mode of action, currently investigated in a pivotal study in 
patients with DMD as an alternative to standard corticosteroids. The 
clinical stage pipeline also includes lonodelestat (POL6014) to treat 
cystic fibrosis (CF) and other neutrophilic pulmonary diseases, as well 
as an exploratory gene therapy approach targeting congenital muscular 
dystrophies. Santhera out-licensed ex-North American rights to its first 
approved product, Raxone(R) (idebenone), for the treatment of Leber's 
hereditary optic neuropathy (LHON) to Chiesi Group. For further 
information, please visit www.santhera.com. 
 
   Raxone(R) is a trademark of Santhera Pharmaceuticals. 
 
   For further information please contact: 
 
   public-relations@santhera.com 
https://www.globenewswire.com/Tracker?data=L4k1FI0wh4cCpLlYBbPO5ym9gbHHJaXa5nTWM4B-R3XXzedGwZ2wgnpJjgL2Sh7GTE6_I6-Z10Ct7-oqmzAoFY3vIEy5EJ0sl9DMrg107AzcFqqBMCrlHc1jMQ2MWU-I 
or 
 
   Eva Kalias, Head External Communications 
 
   Phone: +41 79 875 27 80 
 
   eva.kalias@santhera.com 
 
   Disclaimer / Forward-looking statements 
 
   This communication does not constitute an offer or invitation to 
subscribe for or purchase any securities of Santhera Pharmaceuticals 
Holding AG. This publication may contain certain forward-looking 
statements concerning the Company and its business. Such statements 
involve certain risks, uncertainties and other factors which could cause 
the actual results, financial condition, performance or achievements of 
the Company to be materially different from those expressed or implied 
by such statements. Readers should therefore not place undue reliance on 
these statements, particularly not in connection with any contract or 
investment decision. The Company disclaims any obligation to update 
these forward-looking statements. 
 
   # # # 
 
 
 
   Attachment 
 
 
   -- 2021 05 27_PR_AGM_e_final 
      https://ml-eu.globenewswire.com/Resource/Download/ac2257db-808e-444e-b9f1-dc6d66d399c5 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 27, 2021 01:00 ET (05:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
BACHEM HOLDING AG 1.32% 536 Delayed Quote.33.75%
DJ INDUSTRIAL 1.76% 33876.97 Delayed Quote.8.77%
SANTHERA PHARMACEUTICALS HOLDING AG -1.32% 2.625 Delayed Quote.-5.00%
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Financials
Sales 2021 16,8 M 18,2 M 18,2 M
Net income 2021 -37,1 M -40,3 M -40,3 M
Net cash 2021 4,20 M 4,56 M 4,56 M
P/E ratio 2021 -2,83x
Yield 2021 -
Capitalization 61,5 M 66,9 M 66,8 M
EV / Sales 2021 3,42x
EV / Sales 2022 0,60x
Nbr of Employees 86
Free-Float 83,0%
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Mean consensus UNDERPERFORM
Number of Analysts 2
Average target price 6,23 CHF
Last Close Price 2,66 CHF
Spread / Highest target 268%
Spread / Average Target 134%
Spread / Lowest Target -0,38%
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Managers and Directors
NameTitle
Dario Eklund Chief Executive Officer
Andrew P. Smith Chief Financial Officer
Elmar J. Schnee Chairman
Martin Gertsch Vice Chairman
Philipp Gutzwiller Independent Director
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