DanCann Pharma A/S: Capital reduction completed
The capital reduction in DanCann Pharma A/S as resolved on an extraordinary general meeting held on 17 April 2024 has been completed today, 16 May 2024, following expiry of a 4-week notice period ("proklama").
As set out in press release published on 17 April 2024, an extraordinary general meeting held on 17 April 2024 resolved to reduce the share capital of the Company by nominally DKK 4,582,269.6975 from nominally DKK 6,248,549.5875 to nominally DKK 1,666,279.89 by transfer of the amount to a special reserve fund (in Danish: henlæggelse til særlig reserve), cf. article 188(1)(3) of the Danish Companies Act.
The capital reduction has been completed by way of a proportionate reduction of the nominal value of each share of the Company from nominally DKK 0.0375 to nominally DKK 0.01.
The total number of outstanding shares is unaffected by the capital reduction, and each shareholder's holding of shares is unchanged.
Before completing the capital reduction, the creditors of the Company have been given notice requesting them to file their claims against the Company during a 4-week notice period ("proklama") which commenced on 17 April 2024.
The 4-week notice period ("proklama") expired today without any creditors having filed a claim. The capital reduction has been completed today, on 16 May 2024, by registration of the capital reduction with the Danish Business Authority, to the effect that the share capital of the Company is nominally DKK 1,666,279.89. The number of outstanding shares is 1,666,627,989 of nominally DKK 0.01 each.
The Company’s articles of association following the capital reduction is attached.
About DanCann Pharma A/S
DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids.
DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen/Stockholm.
For more information, visit: www.dancann.com
For further information, please contact:
Jeppe Krog Rasmussen, CEO
E-mail: jkr@dancann.com
Forward-looking-statement:
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements are subject to several risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this presentation are made as of the date of this presentation and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.