General Meeting approved the project to transfer Pixium Vision’s shares listing to the Euronext Growth Paris market
Paris, 13 December 2019 – 7.00 AM CET – The Ordinary General Meeting of Pixium Vision (FR0011950641 - PIX), held today, approved the proposed transfer of the listing of the Company’s shares from the Euronext Paris regulated market (Compartment C) to the Euronext Growth Paris multilateral trading facility, and transferred all rights to the Board of Directors for the transfer.
The Board of Directors, held on today following the General Meeting, has decided to implement the transfer. The Pixium Vision’s shares will be admitted to Euronext Growth Paris at least two months.
The purpose is to list Pixium Vision’s shares on a market that is more suitable to the company’s size. The transfer to Euronext Growth Paris will reduce listing costs, while enabling it to continue to benefit from the advantages of the financial markets.
Conditions of the transfer
The proposed transfer has been approved the General Meeting of Pixium Vision’s shareholders.
Provided this proposal is approved by Euronext Paris SA, the listing will be carried out pursuant to an accelerated procedure for the admission to trading of the Company’s existing shares, without issuing any new shares.
Consequences of the transfer
In accordance with the laws in force, Pixium Vision hereby informs its shareholders of the possible consequences of this transfer.
Periodic financial reporting
- The company’s annual financial statements, the management report and the statutory auditor’s reports on the financial statements must be published no later than four months from the end of the financial year (Euronext Growth Rules, article 4.2.1). However, at this time, the Company intends to continue publishing this information no later than three months from the end of the financial year.
- The company’s half-year financial statements and the business report must be published no later than four months from the end of the financial period with a limited review by the statutory auditors (Euronext Growth Rules, article 4.2.1). However, at this time, the Company intends to continue publishing this information no later than three months from the end of the financial period.
- Discretion as to the choice of accounting standards (French or IFRS accounting standards) used to prepare the consolidated financial statements. However, at this time, the Company intends to continue to apply IFRS accounting standards.
Protection of minority shareholders
- With respect to changes in their shareholder structure, companies listed on Euronext Growth Paris are only required to disclose to the market the crossing of certain thresholds (upwards or downwards), specifically the thresholds of 50% and 95% of the share capital or voting rights.
- Unless an exception applies, the Company’s minority shareholders are protected on Euronext Growth Paris by the public offer that becomes mandatory if the threshold of 50% of the share capital or voting rights is crossed, directly or indirectly, alone or in concert.
However, both the law on takeover bids and the obligations to submit threshold-crossing declarations and declarations of intent applicable to companies admitted to trading on a regulated market will continue to be applied for three years from the admission of the Company’s shares to trading on the Euronext Growth Paris market.
- Because Euronext Growth Paris is an organised trading facility, the Company will continue to be bound by the applicable provisions on ongoing market information and, more particularly, the provisions of Regulation (EU) No. 596/2014 of 16 April 2014 on market abuse (“MAR”).
- Furthermore, the Company’s officers (and persons associated with them) will continue to be required to report transactions in the Company’s shares and debt securities (MAR, Article 19).
The Company draws attention to the fact that the transfer to Euronext Growth Paris may result in the liquidity of the share differing from the liquidity observed since it was first listed on the Euronext Paris regulated market. This transfer may also lead certain investors who prefer the securities of issuers listed on a regulated market to sell their Pixium Vision shares.
The identification code (ISIN) of Pixium Vision shares will remain unchanged: FR0011950641. The mnemonic PIX will be changed in ALPIX as from the listing of shares on Euronext Growth Paris.
For the purposes of its transfer to Euronext Growth Paris, Pixium Vision will be supported by Gilbert Dupont as a listing sponsor.
Indicative timetable for the proposed transfer to Euronext Growth Paris (subject to the agreement of Euronext Paris SA)
29 October 2019: Meeting of the Board of Directors to convene an ordinary general meeting to approve the proposed transfer to Euronext Growth Paris, and publication of the press release on the proposed transfer to Euronext Growth Paris.
12 December 2019: Ordinary general meeting approved the transfer to Euronext Growth Paris, and publication of the press release on the decision by the Ordinary general Meeting to submit an application for transfer to Euronext Growth Paris – Application submitted to Euronext to delist the Company’s shares from the Euronext Paris market and concomitant application for direct admission of the shares to the Euronext Growth market; and
13 February 2020 at the earliest: Decision to list the Pixium Vision shares on the Euronext Growth Paris market and to delist Pixium Vision shares from the Euronext Paris regulated market.
Chief Financial Officer
+33 1 76 21 47 68
|Media relations |
+33 6 27 74 74 49
+41 79 367 62 54
Pixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as: Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.
For more information: http://www.pixium-vision.com/fr
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