Publication of insider information in accordance with Article 17 of the Regulation (EU) No 596/2014
Ad-Hoc announcement // Mar 22, 2019, 19:03 CET
Munich – The Executive Board of Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) today passed the resolution with the approval of the Supervisory Board to increase the company’s capital stock of currently EUR 9,422,603.00 to a total of EUR 10,000,000.00 by partially utilizing approved capital of EUR 577,397.00 to issue 577,397 new bearer shares with a computational proportion in the capital stock of EUR 1.00 each in return for a cash investment.
The par value of the new shares was set at EUR 29.90 per share. This results in total gross proceeds from the share issue of EUR 17,264,170.30. The shareholders’ subscription right according to §4 Para. 3 of the Articles of Association were excluded for the new shares. Subscription took place as a private placement by the M&H Equity AG, a strategic investor from Switzerland. The funds acquired from the capital increase will be used primarily to develop the company’s own biosimilar products, particularly FYB205. The new shares will shortly be approved for trading in the “Scale” segment of OTC trading at the Frankfurt Stock Market and will be entitled to a share of profits from the start of the financial year, for which the Annual General Meeting had not yet passed a resolution regarding the use of the balance sheet profits at the time that the shares were issued.