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Kuros Biosciences Ltd (“Kuros”) today announced that its shareholders approved all resolutions at the Annual Shareholders’ Meeting 2016. In particular, they vot- ed with a large majority for the proposed reverse stock split at the ratio of 100 to 1 and therefore the necessary changes of the articles of association. The reverse stock split is expected to simplify the trading and increase the shares’ attractiveness for investors. The first trading day of the new shares is expected to be June 23, 2016. The shareholders’ meeting further resolved on an authorized capital increase which the Board intends to partially use for a quick and flexible raising of capital (including private placements), Shareholders also elected Leanna Caron as new member of the Board of Directors.
Schlieren (Zurich), Switzerland, June 16, 2016
The Annual Shareholders’ Meeting of Kuros took place at the Company’s headquarters in Schlie- ren/Zurich (Switzerland). It was attended by 77 shareholders. 237’200’269 shares or 46.65% of a total of 508’432’244 shares were represented.
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 Main 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