Company announcement, Helsinki, 28 November 2018 at 13:30
The Extraordinary General Meeting of Nexstim Plc (NXTMH:HEX, NXTMS:STO), the targeted neuromodulation company developing and marketing pioneering navigated personalised, non-invasive brain stimulation systems for the treatment of Major Depression Disorder (MDD), resolved on 21 November 2018 to reduce the quantity of Nexstim's shares without reducing share capital by way of issuing new shares and by redemption of Company's own shares, in such a way that each current 30 shares of the Company shall correspond to one share of the Company after the arrangements related to the reduction of the quantity of Company's shares are completed.
As a part of the arrangements, the Extraordinary General Meeting resolved on 21 November 2018 that the Company shall issue 9,000 shares to the Company itself without consideration. Such new shares issued to the Company itself are to be re-issued i.e. transferred from the Company without consideration to such shareholders (the “Receiving Shareholders”) holding on 27 November 2018 (the “Record Day”) a) shares registered in Euroclear Sweden AB’s Securities System whether registered in the name of or a nominee or directly of the Shareholder or b) nominee registered shares registered in Euroclear Finland Ltd’s Bookentry System, the amount of which (a or b) is not divisible by 30, to the extent required by their shareholding in the Company being dividible by the number 30.
Pursuant to the resolution of the Extraordinary General Meeting, as further elaborated by the Board of Directors today on 28 November 2018, the Company has based on the above-mentioned redemption ratio and requirement, issued i.e. transferred in total 34 (which would be equal to 997 shares based on the number of shares prior to the reduction of the shares) treasury shares to the Receiving Shareholders without consideration so that the number of shares held by such Receiving Shareholders is dividable with 30. This share issue / transfer concerns only all such Receiving Shareholders in group a) above holding directly owned shares registered in Euroclear Sweden AB’s Securities System, and the amount of shares which are required by their shareholding in the Company being dividible by the number 30.
The transfers of shares from the Company to such Receiving Shareholders are expected to take place and be recorded in book-entry accounts no later than on 3 December 2018.
Helsinki, 28 November 2018
The Board of Directors
Martin Jamieson, CEO
Further information is available on the website www.nexstim.com or by contacting:
Martin Jamieson, Chairman and CEO
+44 771 516 3942
Sisu Partners Oy (Certified Adviser) +358 (0)10 231 4560
Citigate Dewe Rogerson
David Dible/Shabnam Bashir/ Sylvie Berrebi
+44 (0)207 2822949
About Nexstim Plc
Nexstim is a medical technology company focused on the development and commercialization of its world-leading SmartFocusTM TMS technology, a non-invasive brain stimulation system for the treatment of Major Depressive Disorder (MDD). The Company’s proprietary Navigated Brain Therapy (NBT®) system, a highly sophisticated 3D navigation, is the only personalised, navigated transcranial magnetic stimulation (TMS) approach providing accurate targeting of the TMS to the specific area of the brain associated with MDD.
Nexstim’s NBT® system has been launched in the US for the treatment of MDD following clearance from the FDA for marketing and commercial distribution for this indication. The NBT® system is CE marked in Europe for the treatment of major depression and chronic neuropathic pain.
In addition, Nexstim is commercialising its Navigated Brain Stimulation (NBS) system for diagnostic applications, based on the same technology. The NBS system is the only FDA cleared and CE marked navigated TMS system for pre-surgical mapping of the speech and motor cortices of the brain. Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden.