Disclosure of inside information according to Article 17 MAR.
6 May 2021 | 18:15 hrs CET/CEST
4SC AG plans reduction of share capital through a reverse split of shares
Planegg-Martinsried, Germany, 6 May 2021 – The Management Board and Supervisory Board of 4SC AG (FSE Prime Standard: VSC) today decided to propose to the Annual General Meeting to be held on 24 June 2021 the reduction of the Company’s share capital through a reverse split of shares in accordance with sections 222 ff. of the German Stock Corporation Act (AktG) in a 5:1 ratio, i.e. five old shares are combined to form one new share and therefore to reduce the share capital from EUR 50,570,045.00 to EUR 10,114,009.00.
4SC AG expects that, without capital measures, a loss amounting to half of the share capital would probably occur in the second half of 2021 and that an extraordinary general meeting would then have to be convened to accept the loss notification. The proposed capital reduction through a reverse split of shares will prevent this.
Further information will be provided in the notice to the Annual General Meeting which is expected to be published in the Federal Gazette on 17 May 2021.
Information and Explanation of the Issuer to this News:
Information set forth in this press release contains forward-looking statements, which involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC’s control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Jason Loveridge, PhD
+49 89 700763-0