Share issue / transfer and annulment of shares in connection with the reduction of the quantity of shares in Nexstim Plc

Company announcement, Helsinki, 30 November 2018 at 17:30

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. Furthermore, it was resolved that the remaining part of such treasury shares shall be annulled.

Pursuant to the resolution of the Extraordinary General Meeting, as further elaborated by the Board of Directors today on 30 November 2018, the Company has based on the above-mentioned redemption ratio and requirement, issued i.e. transferred in total 1,242 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 all Receiving Shareholders in groups a) and b) above holding nominee registered shares recorded in Euroclear Finland Ltd’s Bookentry System or 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.

Furthermore, in total 7,724 treasury shares were annulled pursuant to the decision of the Board of Directors today on 30 November 2018.

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. The final quantity of shares after the above-mentioned annulment of shares i.e. the number of shares after all arrangements connected to the reduction of the quantity of shares is expected to be registered within the Trade Register approximately on 3 December 2018.

Helsinki, 30 November 2018

The Board of Directors

Martin Jamieson, CEO

Further information is available on the website 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.