Brief: Biofrontera AG Says Plans Capital Reduction And Considers Subsequent Capital Increase From Authorized Capital
15/02/2024 20:24
Feb 15 (Reuters) - Biofrontera AG B8FGn.DE :
* PLANS CAPITAL REDUCTION AND CONSIDERS SUBSEQUENT CAPITAL
INCREASE FROM AUTHORIZED CAPITAL
* CONSIDERING TO CARRY OUT A CAPITAL INCREASE RELATIVELY
SOON
AFTER CAPITAL REDUCTION BECOMES EFFECTIVE
* ORDINARY CAPITAL REDUCTION BY CONSOLIDATING EXISTING
NO-PAR
VALUE SHARES AT A RATIO OF 21:1
* CAPITAL REDUCTION WILL ALSO ENSURE THAT COMPANY'S SHARE
PRICE
RISES SIGNIFICANTLY ABOVE EUR 1.00 AGAIN
* AS A RESULT, NEW SHARE CAPITAL IS TO AMOUNT TO ABOUT EUR 3
MILLION
* CAPITAL REDUCTION SERVES TO OFFSET ACCUMULATED LOSSES AND
THOSE
EXPECTED IN CURRENT FINANCIAL YEAR 2024.
* IN ORDER TO MAKE THIS RATIO POSSIBLE, SEVEN SHARES
PROVIDED TO
COMPANY FREE OF CHARGE BY A SHAREHOLDER ARE TO BE WITHDRAWN
BEFOREHAND
Source text for Eikon: ID:nPexz9Pcya
Further company coverage: B8FGn.DE
((Reuters.Briefs@thomsonreuters.com;))
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