Idorsia takes steps to address short-term liquidity needs - Seite 2

Idorsia has appointed J.P. Morgan Securities plc to act as Dealer Manager for the bondholder solicitation process.

The financial status as of March 31, 2024, is required in connection with the bondholder meeting. Idorsia therefore intends to publish on April 17, 2024, the formal invitation to the bondholder meeting concurrently with announcing its unaudited financial status as of March 31, 2024. The bondholder meeting is expected to take place on April 30, 2024.

Idorsia will further postpone the publication of its audited Full-Year 2023 Financial Results as well as the Q1 2024 Financial Results from the currently scheduled April 25, 2024, to May 21, 2024. On April 8, 2024, the SIX Exchange Regulation (SER) granted Idorsia a request for extension of the 2023 publication and submission of the Annual Report until May 31, 2024. The rationale for this request is related to the contemplated amendment of the convertible bond maturing on July 17, 2024 (ISIN: CH0426820350) as announced today.

As required by SIX Exchange Regulation (SER), Idorsia hereby reprints paragraph I of the SER’s decision: Idorsia’s request is granted as follows:

1. The exemption request of Idorsia (Issuer) dated 03 April 2024 regarding an extension of the deadline to publish its 2023 annual report and to file such report with SIX Exchange Regulation AG until 31 May 2024 at the latest is granted with the following reservation (lit. a) and under the following conditions (lit. b):
   
   
   1. SIX Exchange Regulation AG reserves the right to suspend trading of the registered shares of the Issuer in case its 2023 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules (Listing Rules dated 23 August 2023 )[LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange Regulation AG until Friday, 31 May 2024, 11.59 pm CET, at the latest.
      
      
   2. Idorsia is required to publish a notice in accordance with the provisions on ad hoc publicity (Art. 53 LR in connection with the DAH) concerning this decision until Tuesday, 30 April 2024, 7.30 am CET, at the latest.
      
      

            The notice must contain:

• the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
• the reasons for the application of the Issuer requesting an extension of the deadline to publish its 2023 annual report and to file such report with SIX Exchange Regulation AG (SER).

Notes to the editor