Relief Therapeutics, a biopharmaceutical company dedicated to developing and commercializing innovative, patent-protected products for select specialty and rare diseases, is pleased to announce an upcoming extraordinary general meeting of shareholders to be held on Friday, April 28, 2023 at 10:00 a.m. CEST in Geneva.
This meeting promises to be an invaluable opportunity for shareholders to discuss the future of the company and its products. Don’t miss your chance to be a part of this exciting event!
The shareholders of Relief Therapeutics are invited to consider and vote on an extraordinary proposal to consolidate or reverse split the Company’s ordinary shares at a ratio of 400 to 1. This technical adjustment will not affect the value of the share portfolio held by shareholders, nor the market capitalization of Relief Therapeutics.
If successful, the Company’s shares will be listed on the Nasdaq Stock Market, with their current listing on SIX Swiss Exchange unaffected by the dual listing. This marks a unique opportunity for the Company to expand their presence in the global stock market.
Jack Weinstein, chief executive officer at Relief Therapeutics, has announced plans to consolidate the company’s shares in order to meet the minimum price criteria for listing on the Nasdaq. This major milestone will provide Relief Therapeutics with greater access to capital, enabling them to accelerate the development of their pipeline, obtain clinical validation for potential therapies, and execute their business strategy. Listing on the Nasdaq will provide much needed liquidity and open up a range of new opportunities for the company.
In the reverse split, existing Relief Therapeutics shares will be merged into new, whole shares at a ratio determined by rounding down to the next lower number. To make up for the resulting fractions, shareholders will receive cash payments based on a fixed price corresponding to the three-day volume-weighted average price (VWAP) of the Relief Therapeutics share prior to the split. Despite the change in share numbers, the percentage interest in the Company’s equity for the shareholder will remain unchanged.
Relief Therapeutics is giving shareholders the chance to be part of a historic moment! By adjusting their shareholdings in advance of the proposed reverse split, all current and future shareholders, particularly those with fewer than 400 shares, can ensure their continued investment in the Company. Don’t miss out on this exciting opportunity to be part of something special!
Registered shareholders, don’t miss out on your chance to shape the future of the company! On April 6, 2023, all of you will receive personal invitations with detailed instructions on how to attend the meeting, as well as how to deliver your voting instructions. Make sure to check your mail and take part in the vital decision-making process!
At the Extraordinary General Meeting, Relief Therapeutics will be proposing a shareholder vote on the reverse stock split, along with the necessary consequential amendments to the Articles of Association.
However, changes to the Articles of Association that are required due to the implementation of new Swiss corporate law will not be considered at this time, and will instead be proposed for a vote at the next Annual General Meeting. This is an important opportunity for Relief Therapeutics shareholders to have their say regarding the company’s future.
ABOUT RELIEF THERAPEUTICS
Relief Therapeutics is on a mission to revolutionize the treatment of rare diseases, bringing together a diverse range of risk-mitigated assets and globally patented technologies. Founded in 2013, the biopharmaceutical company is committed to improving the lives of patients through the delivery of safer, more effective and more convenient treatments.
Led by a team of experienced industry professionals, Relief Therapeutics is based in Geneva, Switzerland, with additional offices in Balerna, Rome and Offenbach am Main. The company is listed on the SIX Swiss Exchange (RLF) and quoted on the U.S. OTCQB (RLFTF and RLFTY). Join us as we strive to bring relief to those with rare diseases.