Kinarus Therapeutics Holding AG publishes FY2023 Financial Statements and announces details on Business Combination with Curatis AG and Reverse Share Split - Seite 2

Postponement of the publication of the Annual Report 2023

By decision dated 12 April 2024, SIX Exchange Regulation AG (the "SER") approves an extension of the deadline for the publication of the 2023 Annual Report of Kinarus Holding until Friday, 31 May 2024, at the latest.

The Company has just completed its work on the FY2023 Financial Statements as well as on the annual audit. Whilst the Company managed to publish today its audited FY2023 Financial Statements, various other tasks required to be completed in connection with the computation of the 2023 Annual Report had to be postponed in light of the upcoming contemplated closing of the Business Combination and the various information still to be verified and clarified by the new Board of Directors of the Company elected on 1 March 2024. The new Board of Directors is diligently working towards a publication of the full 2023 Annual Report of Kinarus Therapeutics Holding AG envisaged for 24 May 2024.

Today, the Company is publishing its audited FY2023 Financial Statements. The Company had no consolidated revenues in FY2023. Consolidated loss before financial result, taxes and depreciation and amortization amounted to CHF3.0m. Overall consolidated net loss for the period amounted to CHF49.4m (whilst statutory net loss of Kinarus Holding, the to be combined entity with Curatis amounted to 14.1m). Kinarus Holding's total assets as of 31 December 2023 amounted to CHF0.1m whilst the Company showing negative equity in the amount of (CHF0.3m).

In its decision dated 12 April 2024, SER instructed the Company to include the following excerpt in the ad hoc announcement:

“The request for exemption from maintenance obligations and thus the deferral of the publication of the 2023 Annual Report and the submission of this report to SER by no later than Friday 31 May 2024, is approved subject to the following obligation (Auflage; lit. a) and the following conditions (Bedingungen; lit. b):

1. SER reserves the right to temporarily suspend trading in securities of the Company if it does not publish its 2023 Annual Report by Friday, 31 May 2024, 11.59 p.m., in accordance with the provision on ad hoc publicity (art. 53 Listing Rules in conjunction with the Directive on ad hoc publicity) and submit it to SER.
2. The Company must publish a press release in accordance with the provision on ad hoc publicity (art. 53 Listing Rules in conjunction with the Directive on ad hoc publicity) regarding this decision by no later than Tuesday, 30 April 2024, 7.30 a.m. This press release must:
   1. Include the complete wording of the decision in a prominent way.
   2. Mention the reasons for the postponement of the publication and submission of the 2023 Annual Report; and
   3. State the unaudited key figures such as net revenue, EBITDA, EBIT, net profit/loss, total assets, equity regarding the 2023 business results.”

Update on contemplated Business Combination with Curatis and contemplated Reverse Share Split