Agennix AG i.L.
Agennix AG Announces Extraordinary General Meeting
Agennix AG / Key word(s): AGM/EGM 09.04.2013 22:54 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- / Ad Hoc Announcement According to Sec. 15 WPHG For Immediate Release Agennix AG Announces Extraordinary General Meeting Munich (Germany) and Princeton, NJ, April 9, 2013 - The Management Board and Supervisory Board of Agennix AG (Frankfurt Stock Exchange: AGX) today have approved an agenda for an Extraordinary General Meeting (EGM) to be held on May 22, 2013, including proposals for the liquidation of Agennix AG and a 20:1 reverse stock split. The Company continues to pursue various strategic options and will ask shareholders to vote on these two proposals, among other items. The liquidation of Agennix AG would eliminate the public entity but still permit potential transactions involving the Company's clinical assets and its U.S. subsidiaries as part of the process. The reverse stock split is proposed to reduce the number of outstanding shares to address the situation under § 92 par. 1 AktG by covering losses and to permit issuance of shares in connection with a potential strategic transaction. Management expects to make a recommendation by the date of the EGM to approve either the reverse stock split or the liquidation proposal, depending on progress made towards completing a strategic transaction and the nature of such a deal. In addition, the Management Board will discuss at the EGM the previously announced notice of loss pursuant to § 92 par. 1 AktG. In addition to continuing to pursue strategic opportunities such as potential combinations with other life sciences companies, Agennix is continuing to take steps to further conserve cash, including an additional staff reduction, as well as plans to de-list from the Prime Standard sub-section of the Frankfurt Stock Exchange and list on the General Standard of the regulated market. END OF AD HOC ANNOUNCEMENT Agennix AG is a publicly listed biopharmaceutical company. The Company's clinical development programs include oral talactoferrin alfa; a topical gel form of talactoferrin and RGB-286638, a multi-targeted kinase inhibitor. Agennix's registered seat is in Heidelberg, Germany. The Company's site of operation is in Princeton, New Jersey. For additional information, please visit the Agennix website at www.agennix.com. This ad hoc announcement contains forward-looking statements, which express the current beliefs and expectations of the management of Agennix AG. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this ad hoc announcement. There can be no guarantee that the Company will have or be able to obtain additional financial resources to avoid insolvency or that it will be successful in pursuing a strategic transaction. Forward-looking statements speak only as of the date on which they are made and Agennix undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future. Agennix(R) is a trademark of Agennix AG. For further information, please contact: Barbara Mueller Manager, Investor Relations & Corporate Communications Phone: +49 (0)89 90 40 5464 ir@agennix.com 09.04.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Agennix AG Im Neuenheimer Feld 515 69120 Heidelberg Germany Phone: +49 (0)89 90 405 464 Fax: +49 (0)89 90 405 811 E-mail: ir@agennix.com Internet: www.agennix.com ISIN: DE000A1A6XX4 WKN: A1A6XX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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