InDex Pharmaceuticals provides a status update and informs about Extraordinary General Meeting on June 10, 2024
May 6, 2024 - InDex Pharmaceuticals Holding AB (publ) ("InDex Pharmaceuticals" or the "Company") announces that the evaluation of options for the future of the Company, including the reverse merger communicated in a press release on April 8, 2024 (the “Transaction”), is still ongoing. In a separate press release, the Board of Directors of InDex Pharmaceuticals convenes an Extraordinary General Meeting to be held on June 10, 2024.
Following the discontinuation of the development of cobitolimod and the announcement that the Company will not continue the development of any of its other compounds, various options for the Company’s future have, as previously communicated, been evaluated in order to maximize shareholder value. The evaluation, which was conducted with support from an external financial advisor, resulted in continuation of the reversed merger and in taking further steps to ensure that such a transaction is achievable.
In order to implement the planned reverse merger as soon as practically possible, the Board of Directors of InDex Pharmaceuticals convenes, through a separate press release, an Extraordinary General Meeting to be held on June 10, 2024 to resolve the amendments to the Article of Association that are required for the intended Transaction. Provided that the parties are in agreement, they will formally sign the intended Transaction no later than May 20, 2024.
As stated in the notice, the Board of Directors proposes that the Extraordinary General Meeting resolves to adopt new Articles of Association including mainly the following amendments: (i) new company name and objects of the company, (ii) new limits for the share capital and number of shares, (iii) introduction of a new class of redeemable shares of series C and (iv) introduction of a conversion clause whereby holders of ordinary shares may request conversion into shares of series C. The Articles of Association in its complete proposed new wording will be available on the Company's website no later than two weeks prior to the Extraordinary General Meeting.
Provided that the Company enters into an agreement on the intended Transaction, the Board of Directors of InDex Pharmaceuticals intends to convene a separate Extraordinary General Meeting, to be held in direct connection with the general meeting on 10 June 2024 as described in this press release. The purpose of this Extraordinary General Meeting is to resolve on approval of the intended Transaction, issue in kind, reverse share split and other resolutions resulting from the Transaction.
For more information, see the notice of the Extraordinary General Meeting, which is published through a separate press release.
For more information:
Jenny Sundqvist, CEO
Phone: +46 8 122 038 50
E-mail: jenny.sundqvist@indexpharma.com
Johan Giléus, CFO and deputy CEO
Tel: +46 8 122 038 50
E-mail: johan.gileus@indexpharma.com
Publication
The information was submitted for publication through the agency of the contact person set out above at 20:40 CET on May 6, 2024.
InDex Pharmaceuticals in brief
InDex Pharmaceuticals has a vision to help patients with immunological diseases where there is a high unmet medical need. Cobitolimod was being evaluated in the phase III program CONCLUDE for moderate to severe left-sided ulcerative colitis – a debilitating, chronic inflammation of the large intestine.
InDex Pharmaceuticals is based in Stockholm, Sweden. The company’s shares (ticker INDEX) are traded on Nasdaq First North Growth Market Stockholm. Redeye AB is the company’s Certified Adviser. For more information, please visit www.indexpharma.com.
This is an English translation of the Swedish press release. In case of discrepancies between the English translation and the Swedish press release, the Swedish press release shall prevail. Information in this press release is intended for investors.
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