ALSAF Safe Orthopaedics SAS

Safe announces the reverse stock split of 1 new share for 3,700 existing shares

Safe announces the reverse stock split of 1 new share for 3,700 existing shares

Safe announces the reverse stock split of 1 new share for 3,700 existing shares

► Consolidation by way of exchange of 3,700 existing shares for 1 new share

  • Start of the reverse split on Thursday, January 26, 2023
  • Consolidation takes effect on Monday, February 27, 2023
  • Suspension of the right to exercise the securities giving access to the capital from Tuesday, January 10, 2023 (inclusive) to Friday, February 24, 2023 (inclusive)

Éragny-sur-Oise, France, January 12, 2023, 5:30 p.m. - Safe (FR0013467123 - ALSAF), a group specializing in the design, manufacture and marketing of ready-to-use technologies for orthopedic surgery, particularly for back surgery (the "Company") announces today that its Board of Directors has decided, at its meetings held on December 21, 2022 and January 9, 2023, to implement a reverse stock split of the Company's share capital, in the ratio of 1 new share with a par value of 37 euro for 3. 0.01, as authorized by the General Shareholders' Meeting of December 16, 2022 in its first resolution (following an amendment made during the meeting of the General Shareholders' Meeting).

This consolidation is intended to reduce the volatility of the Safe share price and to promote its stabilization.

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The reverse split is a share exchange transaction, without any impact on the amount of the share capital: only the par value of the shares and, consequently, the number of outstanding shares, are modified.

The reverse stock split will begin on Thursday, January 26, 2023 and end on Friday, February 24, 2023, and the new consolidated shares will be listed as from Monday, February 27, 2023.

All other things being equal, this transaction will have no impact on the overall value of the Safe shares held by the shareholders, with the exception of fractional shares (see section Fractional shares).

The main characteristics of this consolidation are, as of the date of this press release, as follows

  • Basis of the reverse split: exchange of three thousand seven hundred (3,700) old ordinary shares with a par value of one euro cent (€0.01) per share for one (1) new share with a par value of thirty-seven euros (€37) per share and current dividend rights.
  • Number of shares subject to the reverse split: