REG - Biofrontera AG - Notice of Cancellation from Trading on AIM <Origin Href="QuoteRef">B8FGn.DE</Origin>
RNS Number : 3764MBiofrontera AG20 January 2016
("Biofrontera" or the "Company")
Notice of Cancellation from Trading on AIM
Leverkusen, Germany, 20 January 2016 - Biofrontera (FSE/AIM: B8F), the biopharmaceutical company focusing on sun-induced skin cancer, announces that the Company has decided to cancel the admission of its ordinary shares to trading on the AIM Market of the London Stock Exchange ("AIM") (the "Cancellation") with effect from 7.00am (GMT) on 18 February 2016 (the "Cancellation Date").
The last trading day on AIM will be 17 February 2016. Up to and including this date, the Company's shares will continue to be traded on AIM and the Prime Standard of the Frankfurt Stock Exchange operated byDeutsche Brse AG ("Frankfurt") on an uninterrupted basis.
This decision has been made following a review of the Company's AIM listing by the Board. Given the composition of the Company's shareholder base, as well as the very low volume of trading in shares on AIM, the Board has concluded that the costs incurred in maintaining a secondary listing on AIM, exceeds the benefits obtained from the listing. On this basis, the Board considers it in the best interests of the Company and all shareholders to seek a cancellation of its shares from trading on AIM.
Biofrontera will continue to maintain its Frankfurt listing and shareholders wishing to trade the Company's shares after the Cancellation Date will be able to do so on the Frankfurt Stock Exchange. Accordingly, the Cancellation is not subject to shareholder approval.
Following the cancellation of the Company's admission to trading on AIM, the Depositary Interests ("DI") which have been trading on AIM will be cancelled on or around 22 February 2016 (the "Effective Date"). The Company will continue to be admitted to the Prime Standard of the Frankfurt Stock Exchange and the Company's securities will continue to be traded on the Frankfurt Stock Exchange. As a result, DI holders on the UK register should not be materially prejudiced as a result of the delisting from AIM.
Computershare, as the Company's UK Depositary, will shortly be writing to each DI holder in the UK to advise them of the process in more detail.
Holders of DIs will have two options:
Prior to the Effective Date, DI holders may request cancellation of their DIs and the transfer of the underlying shares to an account of a brokerage firm authorised to carry out business on the Frankfurt Stock Exchange.
If DI holders take no action, their current DIs will be cancelled automatically on the Effective Date. Computershare will then transfer their underlying Shares to Crest International Nominees Ltd, (acting on behalf of Euroclear UK & Ireland Limited) (the new "Custodian"), who shall then issue CREST Depositary Interests ("CDIs") to them in respect of their underlying shareholdings.
For further details please contact Computershare Investor Services PLC by
telephone on:+ 44 (0) 370 889 3129;or by
fax on: + 44 (0) 370 889 3120; or by
email to: !ALLUKGlobalTransactionTeam@computershare.co.uk
Enquiries, please contact:
Thomas Schaffer, Chief Financial Officer
+49 (0) 214 87 63 2 0
IR Germany: Brainwell Asset Solutions
+49 (0) 152 08931514
Nomad and Broker: Shore Capital
Bidhi Bhoma / Toby Gibbs
+44(0) 20 7408 4090
IR UK: Seton Services
+44(0) 20 7729 0805
Financial PR: Gable Communications
John Bick / Justine James
+44(0) 20 7193 7463
+44 (0)7872 061007
Biofrontera Group (FSE/AIM: B8F, ISIN DE0006046113) is a biopharmaceutical company specialising in the development, sale and distribution of drugs and medical cosmetics for the care and treatment of skin diseases. Biofrontera's most important product is Ameluz, a prescription drug which is approved in Europe for the treatment of mild and moderate actinic keratosis (superficial skin cancer) with photodynamic therapy (light therapy). Biofrontera is the first German pharmaceutical start-up company to obtain centralised approval for a drug it has developed itself. The company also plans for Ameluz to be approved for basal cell carcinoma and is currently preparing for approval in other countries, especially in the largest pharmaceutical market in the world, the United States.
The company also markets the Belixos dermatological range of cosmetics. Belixos products, a cream, a gel and a scalp tonic, contain combinations of active substances extracted from plants, relieve itching and redness and are used for the regenerative care of chronic skin conditions such as atopic dermatitis or psoriasis. The Belixos Protect, a daily skincare for sun-damaged skin, complements this dermo-cosmetic line. All products are available through Amazon.
The Biofrontera Group was established in 1997 by Prof. Dr Hermann Lbbert, the Chairman of the company's Management Board, and has its headquarters in Leverkusen, Germany.
This communication expressly or implicitly contains certain forward-looking statements concerning the business activities of Biofrontera AG. These forward-looking statements reflect the opinion of Biofrontera at the time of this communication and involve certain known and unknown risks. The actual results achieved by Biofrontera may differ significantly from future results or performances which are published in its forward-looking statements. Biofrontera assumes no responsibility to update its forward-looking statements.
This information is provided by RNSThe company news service from the London Stock ExchangeENDMSCDBGDBBBBBGLC
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