4SC AG
Press Release 4SC: Reallocation of 4SC shares successfully completed, free float increased
4SC AG / Key word(s): Miscellaneous Press Release Reallocation of 4SC shares successfully completed, free float increased Planegg-Martinsried, Germany, 2 July 2014 – Biotech company 4SC AG (Frankfurt, Prime Standard: VSC) today announced that a substantial package of 4SC shares held by VCG Venture Capital Gesellschaft mbH & Co. Fonds III KG i.L. (VCG Fonds III) and other companies belonging to Deutsche Bank Group has been fully placed with institutional investors in a reallocation of shares. The corresponding voting rights notification was published today by 4SC, stating that the reportable shareholding of the former shareholders has fallen below the voting rights threshold of 3% of the share capital and that their interest in 4SC has now been reduced to zero. According to a previous voting rights notification, on 8 May 2014 these former shareholders had still held a total of 4.93% of the shares of 4SC. VCG Fonds III is in liquidation and was therefore required to end its long-standing involvement with 4SC for technical reasons and dispose of its entire package of shares. To remove this share overhang, 4SC thus implemented a reallocation of the shares with active support from Bankhaus Donner & Reuschel AG, placing a considerable amount of the shares with a syndicate of institutional investors via block trades. As a result of this transaction, 4SC also gained new shareholders and the free float of 4SC’s shares was lifted from 30.3% at the end of the first quarter of 2014 to around 35% at present. Enno Spillner, CEO of 4SC, commented: “We are delighted by this successful transaction. We felt that the share overhang coming from our former shareholder had a strongly negative influence on our share price in recent weeks. In our view, as a result of this selling pressure, a whole string of positive company news from 4SC could not be adequately reflected in our recent share price performance. After the removal of this share overhang and also in view of the recent extension of our cash reach through a loan by our main shareholder as well as the excellent clinical Phase I data of our drug candidate 4SC-202 in the treatment of haematological cancers recently published, in general a positive stimulus on 4SC’s share price development should now be possible once again.” Ends About 4SC The Group managed by 4SC AG (ISIN DE0005753818) discovers and develops targeted, small-molecule drugs for treating diseases with high unmet medical needs in various cancer and autoimmune indications. These drugs are intended to provide innovative treatment options that are more tolerable and efficacious than existing therapies, and provide a better quality of life. The Company’s pipeline comprises promising products that are in various stages of clinical development. 4SC’s aim is to generate future growth and enhance its enterprise value by entering into partnerships with leading pharmaceutical and biotech companies. Founded in 1997, 4SC had a headcount of 64 employees (55 FTEs) at 31 March 2014. 4SC AG has been listed on the Prime Standard of the Frankfurt Stock Exchange since December 2005. Cautionary statement regarding forward-looking statements This press release contains certain forward-looking statements. Any forward-looking statement applies only on the date of this press release. By their nature, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may or may not occur in the future and as a result of which the actual results and performance may differ substantially from the expected future results or performance expressed or implied in the forward looking statements. No warranties or representations are made as to the accuracy, achievement or reasonableness of such statements, estimates or projections, and 4SC AG has no obligation to update any such information or to correct any inaccuracies herein or omission herefrom which may become apparent. For more information please visit www.4sc.com or contact: 4SC AG MC Services The Trout Group End of Corporate News 02.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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: | 4SC AG | |
Am Klopferspitz 19a | ||
82152 Martinsried | ||
Germany | ||
Phone: | +49 (0)89 7007 63-0 | |
Fax: | +49 (0)89 7007 63-29 | |
E-mail: | public@4sc.com | |
Internet: | www.4sc.de | |
ISIN: | DE0005753818 | |
WKN: | 575381 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
End of News | DGAP News-Service |
276224 02.07.2014 |