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Press Release, 23 June 2016
First Trading Day of New Kuros Share after Reverse Split
Kuros Biosciences Ltd (“Kuros”) today announced the first trading day of the new shares after a reverse split at the ratio of 100 to 1 approved by the recent Annual Shareholders’ Meeting.
Schlieren (Zurich), Switzerland, June 23, 2016
“The reverse split is expected to simplify the trading and increase the shares’ attractiveness for investors”, explained Harry Welten, Chief Financial Officer.
Shareholders approved the reverse stock split at the Annual Shareholders’ Meeting on June 16, 2016. 100 existing registered shares with a nominal value of CHF 0.01 each were exchanged into 1 new (merged) registered share with a nominal value of CHF 1.00. To allow the allocation of a rounded number of shares, current shareholders and founders Dr. Jeffrey Hubbell and Didier Cowling provided the other shareholders for no consideration with the number of shares required. As a result, each existing shareholder received at least one new (merged) share and in any event, a rounded number of shares.
About Kuros Biosciences Ltd
Kuros Biosciences Ltd is focused on the development of innovative products for tissue repair and regeneration and is located in Schlieren (Zurich), Switzerland. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange Ltd under the symbol KURN. Information regarding Kuros is available at www.kuros.ch.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
For further information, please contact:
Kuros Biosciences Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46