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DIEVINI HOPP BIOTECH HOLDING GMBH & CO. KG (NYSE:AGX) Agennix AG Announces Liquidation

Directive transparence : information réglementée

23/05/2013 10:48
DGAP-News: Agennix AG / Key word(s): AGM/EGM Agennix AG Announces Liquidation 23.05.2013 / 10:48 --------------------------------------------------------------------- Munich (Germany) and Princeton, NJ, May 23, 2013 - Agennix AG (Frankfurt Stock Exchange: AGX) today announced that at the Company's Extraordinary General Meeting (EGM) on Wednesday, May 22, 2013, its shareholders voted in favor of the liquidation of Agennix AG, the public entity. The Company shall be dissolved by May 31, 2013. The liquidation takes at least one year following dissolution. The process will be initiated with the manager of the unwinding process informing the creditors of the Company of the liquidation and requesting any claims to be filed. Unwinding includes completing on-going business activities, collecting claims, monetizing assets, and satisfying creditors. The assets potentially remaining after satisfaction of liabilities will be distributed to shareholders pro rata. The completion of the unwinding must be registered in the commercial register and the Company will then be removed from the register. The shareholders of Agennix AG approved the other management proposals put to vote at the meeting including: * Appointment of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft as auditor for the partial business year of January 1, 2013 until dissolution, for the opening liquidation balance and for the first partial liquidation business year ending on December 31, 2013. * Amendment of Articles of Association to reduce the size of the Supervisory Board of Agennix AG from six to three members. At the EGM of Agennix AG 78.8% of the voting shares were represented. Furthermore, Agennix provided an update on projected cash reach, indicating that the Company's current cash resources won't be sufficient to fund the complete liquidation process or to discharge all outstanding liabilities. The Company's cash, cash equivalents, other current financial assets and restricted cash totaled Euro 2.1 million as of April 30, 2013. Currently the Company expects to have sufficient cash to fund ongoing operations until July 2013. The Company is in discussions with various parties regarding potential ways to obtain additional funding in order to complete the liquidation process. Torsten Hombeck, Ph.D., Chief Financial Officer and Spokesperson of the Management Board, said: 'During the last months we have worked diligently to pursue strategic options and to find a viable path forward for the Company and its remaining assets. However, we have unfortunately concluded that it is no longer probable that we will be achieving a transaction in the timeframe required.' Torsten Hombeck continued: 'Unfortunately our cash position is such that we have asked our shareholders to approve the liquidation of Agennix AG, the public entity. This is a difficult step for us to take, but we believe it is the only right one given the situation of the Company.' About Agennix Agennix AG is a publicly listed biopharmaceutical company. The Company's clinical development programs include oral talactoferrin alfa; a topical gel form of talactoferrin and RGB-286638, a multi-targeted kinase inhibitor. Agennix's registered seat is in Heidelberg, Germany. The Company's site of operation is in Princeton, New Jersey. For additional information, please visit the Agennix website at www.agennix.com. This press release contains forward-looking statements, which express the current beliefs and expectations of the management of Agennix AG. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. There can be no guarantee that the Company will have or be able to obtain additional financial resources to avoid insolvency or bankruptcy. Forward-looking statements speak only as of the date on which they are made and Agennix undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future. Agennix(R) is a trademark of Agennix AG. For further information, please contact: Barbara Mueller Manager, Investor Relations & Corporate Communications Phone: +49 (0)89 90 40 5464 ir@agennix.com End of Corporate News --------------------------------------------------------------------- 23.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Agennix AG Im Neuenheimer Feld 515 69120 Heidelberg Germany Phone: +49 (0)89 90 405 464 Fax: +49 (0)89 90 405 811 E-mail: ir@agennix.com Internet: www.agennix.com ISIN: DE000A1A6XX4 WKN: A1A6XX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 212669 23.05.2013

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