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
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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
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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
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