DGAP-News
Vivoryon Therapeutics AG: Vivoryon Therapeutics AG plans conversion into Naamloze Vennootschap (N.V.) under Dutch law
DGAP-News: Vivoryon Therapeutics AG / Key word(s): Miscellaneous Vivoryon Therapeutics AG plans conversion into Naamloze Vennootschap (N.V.) under Dutch law |
- Vivoryon Therapeutics intends the transfer of the statutory seat to Amsterdam, the Netherlands, leading to a conversion into a public company under the laws of the Netherlands
- The administrative seat and the business operations will remain in Germany
- The company will offer dissenting shareholders the acquisition of their shares for a compensation payment of EUR 9.00 per share pursuant to legal requirements
- The transaction will not be implemented if shareholders representing more than 2 % of the voting rights have objections recorded in the meeting
HALLE (SAALE) / MUNICH, GERMANY, 27 August 2020 - The Management Board and the Supervisory board of Vivoryon Therapeutics AG (Euronext Amsterdam: VVY, ISIN DE0007921835) intends to propose
to its shareholders in the upcoming ordinary shareholders meeting expected to be held on 30 September 2020, to resolve upon the transfer of the company's statutory seat to Amsterdam, the
Netherlands, its conversion into, and the adoption of new articles of association of, a public company under the laws of the Netherlands (naamloze vennootschap, "N.V.") under the company
name, Vivoryon Therapeutics N.V..
Background for this prosposal is the intention of the management board to subject Vivoryon Therapeutics to just one jurisdiction as regards its corporate structure and the listing venue, thereby reducing increasing administrative complexity for Vivoryon Therapeutics and its shareholders. Furthermore, the management board expects that the conversion would facilitate the access to new investors and additional capital markets, such as the US stock market (via an ADR program or a full NASDAQ listing), as an important growth opportunity, even though there are currently no specific plans in this regard.