Clinical Laserthermia Systems announces timetable and additional information for the upcoming reverse share split

Lund, Sweden - Today, on April 19, 2024, the board of directors of Clinical Laserthermia Systems AB ("CLS" or the "Company") has, based on the authorization from the extraordinary general meeting held on April 12, 2024, determined the record date and timetable for the reverse share split of the Company's shares. On April 12, 2024, the extraordinary general meeting of CLS decided to carry out a reverse share split, whereby two hundred (200) existing shares (regardless of share class) are consolidated into one (1) new share (regardless of share class). The board of directors has now, in accordance with the authorization of the general meeting, set the record date for the reverse share split to April 26, 2024. Shareholders whose holdings on the record date are not evenly dividable by two hundred (200), will receive, free of charge, as many shares (regardless of share class) as required for the shareholder's holding to be evenly dividable by two hundred (200). The receipt of shares according to the above and the reverse share split will take place through Euroclear Sweden AB without any action being required by the Company's shareholders. The last day of trading in the Company's shares before the reverse split is April 24, 2024 and the first day of trading in the Company's shares after the reverse split is April 25, 2024. The Company's share price will thus reflect the effect of the reverse share split as of April 25, 2024. Shareholders' percentage of the total number of shares in the Company and the value of the individual shareholding will remain unchanged. The reverse share split is carried out primarily to reduce the volatility of the share pricing and to streamline the administration of share trading.

Reverse share split

 

On April 12, 2024, the extraordinary general meeting of CLS resolved to carry out a reverse share split, whereby two hundred (200) existing shares (regardless of share class) are consolidated into one (1) new share (regardless of share class). The board of directors has now, in accordance with the general meeting's authorization, set the record date for the reverse share split to April 26, 2024. The last day of trading in the Company's shares before the reverse share split is April 24, 2024 and the first day of trading in the Company's shares after the reverse share split is April 25, 2024.

 

Shareholders whose holdings on the record date are not evenly dividable by two hundred (200) will receive, free of charge, as many shares (regardless of share class) as required for the shareholder's holding to be evenly dividable by two hundred (200). Thus, a shareholder who currently holds 200 shares in CLS will own 1 share after the reverse split. The receipt of shares according to the above and the reverse share split will take place through Euroclear Sweden AB without any action being required by the Company's shareholders. The shareholders' percentage of the total number of shares in the Company and the value of the individual shareholding remains unchanged.

 

The effect of the reverse split will be reflected in shareholders' deposits from April 25, 2024 as an increase in the price per share, as the total market value of the Company will be divided over a lower number of shares.

 

As a result of the reverse split, the shares in CLS will change ISIN-code. As of April 25, 2024, the B-share in the Company will be traded with the new ISIN-code SE0022049920 (previous ISIN-code SE0002756130). The A-share will have the new ISIN-code SE0022049912 (previous ISIN-code SE0002802215).

 

The reverse share split is carried out primarily to reduce the volatility of the share pricing and to streamline the administration of share trading.

 

Number of shares and share capital

 

After the reverse share split, the total number of shares in CLS will amount to 7,851,707, of which 3,000 A-shares and 7,848,707 B-shares, each share with a quota value of approximately SEK 2.31. The share capital will amount to approximately SEK 18,134,146.88.

 

 

For more information about CLS, please contact:

Dan J Mogren, CEO, Clinical Laserthermia Systems AB (publ)

Phone: +46 (0) 70-590 11 40

E-mail: [email protected]

Website: www.clinicallaser.se

 

This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
 

 

About CLS

Clinical Laserthermia Systems AB (publ) develops and sells the TRANBERG^®|Thermal Therapy Systems, including Thermoguide Workstation and sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy, according to regulatory approvals in the EU and the US. The products are marketed for image-guided laser ablation and used in studies for treatment with imILT^®, the Company's interstitial laser thermotherapy for immunostimulating ablation with potential abscopal effects. CLS is headquartered in Lund and has subsidiaries in Germany, the US and Singapore. CLS is listed on the Nasdaq First North Growth Market under the symbol CLS B. The Certified Advisor (CA) is FNCA Sweden AB.

 

For more information about CLS, please visit the Company's website: www.clinicallaser.se