Brief: Erytech: urges shareholders to vote for merger with Pherecydes and dismisses Akkadian's moves

Phaxiam Therapeutics SA

12/06/2023 06:07

June 12 (Reuters) - Erytech Pharma Sa  ERYP.PA :
    * REMINDS ITS SHAREHOLDERS OF IMPORTANCE OF PARTICIPATING IN
ANNUAL GENERAL MEETING ON JUNE 23 TO SUPPORT PROPOSED MERGER
WITH PHERECYDES.
    * AKKADIAN'S CHALLENGE OF MERGER IS BASED ON INCOMPLETE
INFORMATION AND MISLEADING ARGUMENTS
    * AKKADIAN HAS NOT PRESENTED ANY VALUABLE ALTERNATIVE OPTION
    * AKKADIAN'S UNFOUNDED ACTIONS PRESENT A RISK OF DESTRUCTION
OF
SHAREHOLDER VALUE AND LOSS OF EMPLOYMENT AT TWO COMPANIES, AND
POTENTIAL LOSS OF A STRATEGICALLY IMPORTANT TECHNOLOGY IN FRANCE
    * FAILURE OF MERGER WOULD ONLY LEAD TO DESTRUCTION OF VALUE
FOR
ERYTECH AND ITS SHAREHOLDERS
    * REMINDS ITS SHAREHOLDERS OF THE IMPORTANCE OF
PARTICIPATING IN
THE ANNUAL GENERAL MEETING ON JUNE 23 TO SUPPORT THE PROPOSED
MERGER WITH PHERECYDES
    * SHOULD MERGER FAIL, THERE WOULD BE A RISK FOR ERYTECH TO
BE
FORCED TO ENTER INTO A LIQUIDATIVE MODE UNTIL TOTAL EXTINCTION
OF ITS RESOURCES

Source text for Eikon:  ID:nGNXFW0Mk 
Further company coverage:  ERYP.PA 

 (Reporting by Sudip Kar-Gupta/Federica Mileo)
 ((sudip.kargupta@thomsonreuters.com;))