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Application of Jean-Paul and Martine Clozel regarding the exemption from the offer obligation in relation to Idorsia Ltd

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Ad hoc announcement pursuant to Art. 53 LR

NOT FOR RELEASE, PUBLICATION, DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAWS.

Allschwil, Switzerland – July29, 2021
Idorsia Ltd (SIX: IDIA) today announced that with the submission, dated July 16, 2021, Jean-Paul and Martine Clozel filed a request with the Swiss Takeover Board regarding the exemption from the obligation to make an offer in view of the private placement of convertible bonds in the amount of CHF 600 million by Idorsia Ltd that took place yesterday (July 28, 2021). For information on the background of the procedure and the application of Jean-Paul and Martine Clozel, please refer to the decision of the Takeover Board dated July 26, 2021 (published on www.takeover.ch).

Decision of the Swiss Takeover Board

In its decision of July 26, 2021 (published on www.takeover.ch) the Swiss Takeover Board has decreed the following:

  1. Jean-Paul Clozel and Martine Clozel are exempt from the obligation to make a public takeover offer to the shareholders of Idorsia Ltd as a result of conversion of the convertible bonds 2021 (currently in the maximum amount of CHF 700 million). This exemption from the obligation to make an offer is granted under the condition that the newly created shares of Idorsia Ltd are registered in the commercial register within three months after the conversion of the convertible bonds 2021 by Jean-Paul Clozel and Martine Clozel.
  2. Jean-Paul Clozel and Martine Clozel are obliged to inform the Takeover Board within five trading days after the conversion of the convertible bond 2021 about the details of the conversion and the subsequent registration of the share capital of Idorsia Ltd in the commercial register.
  3. Idorsia Ltd is obliged to publish the operative part of this decision (Dispositiv) as well as the reference to the right of qualified shareholders to object pursuant to art. 6 and 7 TOO.
  4. This decision will be published on the website of the Takeover Board after the publication by Idorsia Ltd in accordance with the paragraph 3 above.
  5. The fee payable jointly and severally by Jean-Paul Clozel and Martine Clozel amounts to CHF 20,000.

Objection (Art. 58 TOO)

A qualified shareholder may file an objection against the Takeover Board’s decision. The objection must be filed with the Takeover Board (Stockerstrasse 54, 8002 Zurich; fax: +41 44 283 17 40) within five trading days from the date of publication of the decision of the Takeover Board. The first trading day after the publication of the decision of the Takeover Board on the Takeover Board’s website will be the first day of the filing period. The objection must contain a formal request, summary reasons and proof of the qualified participation.

About Idorsia
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.

Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, state-of-the-art facilities, and a strong balance sheet – the ideal constellation to translate R&D efforts into business success.

Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 1,000 highly qualified specialists dedicated to realizing our ambitious targets.

For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.commedia.relations@idorsia.comwww.idorsia.com

Informationen auf Deutsch

Medienmitteilung (Ad hoc Mitteilung gemäss Art. 53 KR)

Gesuch von Jean-Paul und Martine Clozel betreffend die Ausnahme von der Angebotspflicht bezüglich Idorsia Ltd

Mit Eingabe vom 16. Juli 2021 stellten Jean-Paul und Martine Clozel im Hinblick auf die gestern (28. Juli 2021) erfolgten Privatplatzierung einer CHF 600 Mio. Wandelanleihe durch Idorsia Ltd bei der Übernahmekommission ein Gesuch betreffend die Ausnahme von der Angebotspflicht. Für Angaben zum Hintergrund des Verfahrens und des Gesuchs von Jean-Paul und Martine Clozel wird auf die Verfügung der Übernahmekommission vom 26. Juli 2021 verwiesen (publiziert auf www.takeover.ch).

Verfügung der Übernahmekommission

Die Übernamekommission hat in ihrer Verfügung vom 26. Juli 2021 (publiziert auf www.takeover.ch) das Folgende verfügt:

  1. Jean-Paul Clozel und Martine Clozel werden von der Pflicht befreit, als Folge einer Wandlung der Wandelanleihe 2021 (derzeit im Umfang von maximal CHF 700 Mio.) den Aktionären von Idorsia Ltd ein öffentliches Übernahmeangebot zu unterbreiten. Diese Ausnahme von der Angebotspflicht wird unter der Bedingung gewährt, dass die Eintragung der neu geschaffenen Aktien von Idorsia Ltd im Handelsregister innert einer Frist von drei Monaten nach der Wandlung der Wandelanleihe 2021 durch Jean-Paul Clozel und Martine Clozel erfolgt.
  2. Jean-Paul Clozel und Martine Clozel werden verpflichtet, die UEK innerhalb von fünf Börsentagen nach der Wandlung der Wandelanleihe 2021 über die Details dieser Wandlung sowie über die anschliessende Eintragung des Aktienkapitals von Idorsia Ltd im Handelsregister zu informieren.
  3. Idorsia Ltd wird verpflichtet, das Dispositiv der vorliegenden Verfügung sowie den Hinweis auf das Einspracherecht qualifizierter Aktionäre gemäss Art. 6 und 7 UEV zu veröffentlichen.
  4. Diese Verfügung wird nach der Veröffentlichung von Idorsia Ltd gemäss Dispositivziffer 3 hiervor auf der Webseite der Übernahmekommission veröffentlicht.
  5. Die Gebühr zu Lasten von Jean-Paul Clozel und Martine Clozel beträgt unter solidarischer Haftung CHF 20'000.

Einsprache (Art. 58 UEV)

Ein qualifizierter Aktionär kann gegen die Verfügung der UEK Einsprache erheben. Die Einsprache ist innerhalb von fünf Börsentagen ab Veröffentlichung der Verfügung der UEK bei der UEK (Stockerstrasse 54, 8002 Zürich; Fax: +41 44 283 17 40) einzureichen. Der erste Börsentag nach der Publikation der Verfügung der UEK auf der Website der UEK ist der erste Tag der Einsprachefrist. Die Einsprache muss einen Antrag und eine summarische Begründung sowie den Nachweis der qualifizierten Beteiligung enthalten.

Allschwil, 29. Juli 2021, Idorsia Ltd

Informations en français

Press release (Annonce événementielle selon l’art. 53 RC)

Idorsia Ltd: Requête de Jean-Paul et Martine Clozel visant à une dérogation à l'obligation de présenter une offre publique d’acquisition concernant Idorsia Ltd

Par soumission du 16 juillet 2021, Jean-Paul et Martine Clozel ont déposé une requête en vue du placement privé d'une obligation convertible de CHF 600 millions par Idorsia Ltd qui a eu lieu hier (28 juillet 2021), visant à une dérogation à l’obligation de présenter une offre auprès de la Commission des OPA. Pour plus d'informations sur le contexte de la procédure et de la requête de dérogation de Jean-Paul et Martine Clozel, il est renvoyé à la décision de la Commission des OPA du 26 juillet 2021 (publiée sur http://takeover.ch).

Décision de la Commission des OPA

Dans sa décision du 26 juillet 2021 (publiée sur http://takeover.ch), la Commission des OPA a décidé ce qui suit:

  1. Jean-Paul Clozel et Martine Clozel sont exemptés de l'obligation de faire une offre publique d'achat aux actionnaires d'Idorsia Ltd à la suite d'une conversion de l'obligation convertible 2021 (actuellement d'un montant maximum de CHF 700 millions). Cette exemption de l'obligation de présenter une offre est accordée à condition que les actions nouvellement crées d'Idorsia Ltd soient inscrites au registre du commerce dans un délai de trois mois après la conversion de l'obligation convertible 2021 par Jean-Paul Clozel et Martine Clozel.
  2. Jean-Paul Clozel et Martine Clozel sont tenus d'informer la COPA dans un délai de cinq jours de bourse suivant la conversion de l'obligation convertible 2021 des détails de cette conversion et de l'enregistrement qui en suit du capital-actions d'Idorsia Ltd au registre du commerce.
  3. Idorsia Ltd est tenue de publier le dispositif de la présente décision ainsi que la mention du droit d'opposition des actionnaires qualifiés, conformément aux art. 6 et 7 OOPA.
  4. La présente décision sera publiée sur le site Internet de la Commission des OPA après la publication par Idorsia Ltd conformément au chiffre 3 du présent dispositif.
  5. L'émolument à charge de Jean-Paul Clozel et Martine Clozel au titre de responsabilité solidaire se monte à CHF 20'000.

Opposition (art. 58 OOPA)

Un actionnaire qualifié peut former opposition contre la décision de la COPA. L’opposition doit parvenir à la COPA (Stockerstrasse 54, 8002 Zurich; fax: +41 44 283 17 40) dans un délai de cinq jours de bourse à compter de la date de publication de la décision de la COPA. Le premier jour de bourse après la publication de la décision de la COPA sur le site Internet de la COPA est le premier jour du délai. L’opposition doit contenir une conclusion et une motivation sommaire ainsi que la preuve de la participation qualifiée.

Allschwil, le 29 juillet 2021, Idorsia Ltd

The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.

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