AMSTERDAM--(BUSINESS WIRE)--The Management Board of Auragenix N.V (www.auragenix.com) reported today that shareholders approved a 1:10 reverse stock split of the Company’s voting bearer shares at a Special General Meeting of Shareholders held on September 15th, 2011 in Amsterdam. The reverse stock split was implemented in order for the company to be compliant with recently introduced rules that require Companies trading on the Open Market segment of the Deutsche Borse to have a minimum share par value of Eurocents 0.10.
The reverse stock split will affect all outstanding and authorized voting bearer shares of the Company as well as the number of shares underlying stock options and other exercisable or convertible instruments outstanding at the effective time of the reverse stock split.
The reverse stock split will apply to all shareholders of record on September 29th, 2011.
Upon the effectiveness of the reverse stock split each of the Company’s shareholders will receive one new share of voting bearer stock in exchange for every ten shares that the shareholder holds. The voting bearer stock will begin trading on a split adjusted basis on the First Quotation Board of the Deutsche Borse in Frankfurt on September 30th, 2011.
The company’s trading symbol (Symbol:AUI) on the Deutsche Borse will not change as a result of the reverse stock split.
ABOUT AURAGENIX N.V.
Auragenix N.V. is a real estate investment management and holding company headquartered in Amsterdam, The Netherlands. It acquired a wholly owned subsidiary, Auragen Real Estate Sp.z o.o. in 2010. Through Auragen, the Company intends to become one of the leading consolidators of small to mid-cap retail/commercial properties in Central Europe.
A public offering of Auragenix shares was not made in connection with their inclusion on the Open Market Frankfurt.