Scandion Oncology A/S: Postponement of extraordinary general meeting

We hereby announce that the planned extraordinary general meeting of Scandion Oncology A/S (the “Company”) is postponed.

Following the notice on September 21, 2021 to convene for an extraordinary general meeting in the Company on October 6, 2021, shareholders representing more than 5% of the share capital have requested an additional extraordinary general meeting to be held in order to propose that the Board of Directors receive an authorization to establish a Share-Buyback program.

The Board of Directors has not at present assessed whether it wants to make use of such an authorization should it be approved by the general meeting.

However, as a result of the request and for due consideration purposes, it was the decision of the Board of Directors to cancel and postpone the contemplated extraordinary general meeting. This was announced October 4, 2021. 

It was the intention to convene a new notice of an extraordinary general meeting within October 11, 2021 (14 days of the request) in accordance with section 5.7 in the Articles of Association of the Company. However, the proposal for a Share-buyback program received from these shareholders was not legally acceptable. Thus, the Company is still in dialogue with the group of shareholders that have requested  an additional extraordinary general meeting on the final design of a proposal for the Board of Directors to receive an authorization to establish a Share-Buyback program.

A new notice of an extraordinary general meeting will be convened when there is a final and legally acceptable proposal from a group of shareholders representing more than 5% of the share capital.

For further information regarding Scandion Oncology, please contact:

Bo Rode Hansen, President & CEO             Peter Høngaard Andersen, Chairman of the Board

Phone: +45 3810 2017                                 Phone: +45 6190 5010

E-mail: info@scandiononcology.com           E-mail: info@scandiononcology.com          

Website: www.scandiononcology.com         Website: www.scandiononcology.com

The information was submitted for publication, through the agency of the contact person set out above, on October 11, 2021, at 17:30 CET

Scandion Oncology A/S is a clinical Phase II biotechnology company currently developing first-in-class, oral add-on drugs to existing market leading anti-cancer therapies. As add-on to standard anti-cancer therapies, it introduces an effective treatment approach for cancer, which is or has become resistant to cancer-fighting drugs, offering the potential for better response rates, longer survival and improved quality of life. The first-in-class lead candidate, SCO-101, is currently in clinical Phase II. The Company is targeting cancer drug resistance in various treatment modalities including chemotherapy, anti-hormonal therapy and immunotherapy. Scandion Oncology is listed on Nasdaq First North Growth Market Sweden. Ticker: SCOL.

Västra Hamnen Corporate Finance is the Company's certified advisor on Nasdaq First North Growth Market and can be reached at ca@vhcorp.se or +46 (0) 40 200 250.