Share issue / transfer and annulment of shares in connection with reduction of the quantity of shares in Nexstim Plc
Company announcement, Helsinki, 21 May 2021 at 3:30 PM (EEST)
Share issue / transfer and annulment of shares in connection with reduction of the quantity of shares in Nexstim Plc
The Annual General Meeting of Nexstim Plc (NXTMH:HEX, NXTMS:STO) (“Nexstim” or “Company”), resolved on 11 May 2021 to reduce the quantity of Nexstim's shares without reducing share capital by way of issuing new shares and by redemption of Company's own shares, in such a way that each current 100 shares of the Company shall correspond to one share of the Company after the arrangements related to the reduction of the quantity of Company's shares are completed.
As a part of the arrangements, the Annual General Meeting resolved on 11 May 2021 that the Company shall issue 350,000 shares to the Company itself without consideration. For the sake of clarity, the number of shares to be issued to the Company itself is calculated based on the number of shares prior to the reduction in the Company, and not the number of the reduced shares. The corresponding amount of shares after the reduction is 3,500 shares. Such new shares issued to the Company itself are to be re-issued i.e. transferred from the Company without consideration to such shareholders (the “Receiving Shareholders”) holding on the Record day e.g. a) in Sweden 18.5.2021, shares registered in Euroclear Sweden AB’s Securities System whether registered in the name of or a nominee or directly in the name of the Shareholder or b) in Finland 14.5.2021, nominee registered shares registered in Euroclear Finland Ltd.’s book entry system, the amount of which (a or b) is not divisible by 100, to the extent required by their shareholding in the Company being divisible by the number 100. Furthermore, it was resolved that the remaining part of such treasury shares shall be annulled.
Pursuant to the resolution of the Annual General Meeting, as further elaborated by the Board of Directors today on 21 May 2021, the Company has based on the above-mentioned redemption ratio and requirement, issued i.e. transferred in total 695 treasury shares to the Receiving Shareholders without consideration so that the number of shares held by such Receiving Shareholders is divisible with 100. This share issue / transfer concerns all Receiving Shareholders in groups a) and b) above holding nominee registered shares recorded in Euroclear Finland Ltd’s Bookentry System or Euroclear Sweden AB’s Securities System, and the amount of shares which are required by their shareholding in the Company being divisible by the number 100.
Furthermore, in total 2773 treasury shares were annulled pursuant to the decision of the Board of Directors today on 21 May 2021.
The transfers of shares from the Company to such Receiving Shareholders are expected to take place and be recorded in book-entry accounts no later than on 24 May 2021. The final quantity of shares after the above-mentioned annulment of shares i.e. the number of shares after all arrangements connected to the reduction of the quantity of shares is expected to be registered within the Trade Register approximately on 24 May 2021.
After aforementioned annulment, total number of the shares in the Company is 6 640 616.
Helsinki, 21 May 2021
The Board of Directors
LeenaNiemistö, Chair of the Board
+358 9 2727 170
+46 8 463 83 00
About Nexstim Plc
Nexstim is a Finnish, globally operating medical technology company. Our mission is to enable personalized and effective therapies and diagnostics for challenging brain diseases and disorders.
Nexstim has developed a world-leading non-invasive brain stimulation technology called SmartFocus®. It is a navigated transcranial magnetic stimulation (nTMS) technology with highly sophisticated 3D navigation providing accurate and personalized targeting of the TMS to the specific area of the brain.
SmartFocus® technology is used in Nexstim’s proprietary Navigated Brain Therapy (NBT®) system, which is FDA cleared for marketing and commercial distribution for the treatment of major depressive disorder (MDD) in the United States. In Europe, the NBT® system is CE marked for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercializing its SmartFocus® based Navigated Brain Stimulation (NBS) system for diagnostic applications. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
For more information please visit www.nexstim.com
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