Important step in the Company’s strategic initiative to increase international awareness and visibility
Sophia Antipolis, France.
Nicox S.A. (Euronext Paris: FR0000074130, COX), the international ophthalmic company, today announced that its Board of Directors is implementing a 5-for-1 reverse stock split, as approved by Nicox’s shareholders at the October 13, 2015 Extraordinary General Meeting. The reverse stock split will become effective on December 3, 2015.
“I would like to thank our shareholders who have shown once again their support for Nicox with the approval of this 5-for-1 reverse stock split,” said Michele Garufi, Chairman and Chief Executive Officer of Nicox. “We believe that the reverse stock split is a critical step in our larger strategic initiative to increase awareness and visibility for Nicox ahead of the potential FDA approval of VESNEO next year. We continue our efforts to ensure that Nicox’s potential is fully understood by the international markets.”
Reverse stock split terms and conditions
The reverse stock split process will start as of November 3, 2015, in accordance with the terms of the reverse stock split notice that was published on October 19, 2015 in the Bulletin des Annonces Légales Obligatoires (BALO).
Nicox’s reverse stock split will become effective on December 3, 2015. All shareholders will automatically receive from their financial intermediary 1 new Nicox share with a par value of €1 and all rights pertaining to shares, in exchange for 5 existing Nicox shares with a par value of €0.20. The reverse stock split will thus reduce the number of outstanding common shares from approximately 114.3 million with a par value of €0.20 to approximately 22.8 million with a par value of €1.
Shareholders who hold a total number of shares that is an exact multiple of 5 will not need to take any action, and the reverse stock split will be carried out automatically on December 3, 2015.
Shareholders who do not hold a total number of shares that is an exact multiple of 5 must, between today and December 2, 2015 inclusive, deal with their fractional shares by purchasing or selling directly on the market the number of existing Nicox shares needed to obtain a multiple of 5. After December 2, 2015, shareholders who have been unable to obtain a number of shares that is an exact multiple of 5 will be compensated for their remaining fractional shares by their financial intermediary within 30 days from December 3, 2015.
The existing Nicox shares (ISIN code: FR0000074130) will be delisted from Euronext and will be replaced by the new Nicox shares (ISIN code: FR0013018124) on December 3, 2015. The ticker will remain unchanged (COX).
For more information on the operation, shareholders are invited to read the Reverse Stock Split Question and Answer document available on the Company’s website (www.nicox.com) in the Investor Information / Stock Information section. Nicox’s Investor Relations team is available to answer any additional question by e-mail at firstname.lastname@example.org.
All operations relating to Nicox’s reverse stock split will be managed by Société Générale, 32 rue du Champ de Tir – CS 30812 – 44308 NANTES CEDEX 3, as the centralization agent.