ContextVision announces resolution regarding record date for dividend
Stockholm, February 2nd, at the extraordinary general meeting in ContextVision AB ("ContextVision" or the "Company") held on 10 December 2021 the meeting resolved to distribute all shares in the wholly-owned company INIFY Laboratories AB, company registration number 559345-4431 ("INIFY") to the shareholders of the Company. The board of directors has determined the record date for the dividend to 9 February 2022. The dividend is expected to take place on 10 February 2022.
All shares in INIFY will be distributed, whereby one (1) share in ContextVision will entitle to one (1) share in INIFY. Aside from being registered as a shareholder in the Company on the record date for the dividend, no further actions are required by shareholders in order to receive shares in INIFY.
The last day for trading in shares in ContextVision including the right to receive shares in INIFY is 7 February 2022. As of 8 February 2022, the shares in the Company will be traded excluding the right to receive shares in INIFY.
Timetable
The following timetable applies for the dividend in ContextVision:
| Date | Event |
| 7 February 2022 | Last day of trading in shares in ContextVision including the right to receive shares in INIFY |
| 8 February 2022 | ContextVision's shares are traded excluding the right to receive shares in INIFY |
| 9 February 2022 | Record date for the dividend of shares in INIFY |
| 10 February 2022 | Dividend of shares in INIFY is carried out |
Reverse share split in INIFY
Following the execution of the dividend, a reverse share split in INIFY will be carried out. The extraordinary general meeting in INIFY resolved on 13 January 2022 to carry out a reverse share split, whereby ten (10) shares in INIFY will be combined into one (1) share. To carry out the reverse share split it was also resolved to amend INIFY's Articles of Association and the number of shares in INIFY. The shareholders of INIFY do not need to take any actions in order to participate in the reverse share split. INIFY's shareholders will automatically receive a new, lower, number of shares in proportion to their holdings on the record date, which will be determined at a later stage in the process. The shareholders whose holdings of shares are not, on the record date, evenly divisible by ten (10), will receive shares free of charge from a large shareholder in INIFY contributing with shares to the shareholders whose holdings of shares are not evenly divisible by ten (10). The larger shareholder will also round down its remaining holding of shares in INIFY to the nearest number that is evenly divisible by ten (10).
Following the reverse share split, the number of shares in INIFY decreases from 77,367,500 to 7,736,750 and thereafter each share will have a quota value of approximately SEK 0.064626 per share. As a result of the reverse share split, INIFY's share will change ISIN code.
Leadership moving forward
ContextVision, the world-leading image enhancement provider, is pleased to confirm the appointment of Ola Lindblad as the acting CEO.
“As earlier announced, the current CEO Fredrik Palm will move on and lead Inify Laboratories as their CEO. Fredrik has been an instrumental leader in ContextVision for ten years, serving as CEO since April 2019. I’d like to thank him and wish him great success with the establishment of Inify Laboratories. Ola has led the Medical Imaging Business unit for two years, and he is well positioned to continue the development of ContextVision with full focus on further development of the medical imaging business,” says Olof Sandén, Chairman of the Board.
“I look back with pride on my ten years with ContextVision. We have continuously strengthened the business and the global market leader position within image processing, thanks to a talented team with impressive dedication. It is with confidence I hand over to Ola, a management professional well familiar with the company’s core business. In my view, ContextVision is well positioned for a promising growth path with great opportunities, and I will for sure follow their journey closely,” says Fredrik Palm, CEO of Inify Laboratories. He continues:
“The management team at Inify Laboratories is already almost complete. Looking at the entire organization, we have highly competent and experienced individuals forming our committed, cross-professional team.”
Ola Lindblad comments: “ContextVision is a unique brand in the market, with exceptionally talented people, and I’m very honored to take on this acting role. The new management team is in place and strongly motivated to lead the business forward. With our heightened focus on medical imaging, we will continue on our growth trajectory for the coming years.”
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This information considered to be information that ContextVision is obliged to release pursuant to the EU Market Abuse Regulation
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
The information was submitted for publication, through the agency of the contact person set out above, at 08:45 CET on 2 February 2022.