Business
Faron notice of EGM
Faron notice of EGM.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \n \n \n Faron Pharmaceuticals Ltd\n \n \n \n \n (\"Faron\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Notice of Faron Pharmaceuticals LTD's Extraordinary General Meeting\n \n \n \n \n \n \n \n \n \n Company Announcement, June16, 2022 at 07:00 AM (EST) / 12:00 PM (BST) / 02:00 PM (EEST)\n \n \n \n \n \n \n \n \n Shareholders of Faron Pharmaceuticals Ltd (the \"Company\") are invited to attend the Extraordinary General Meeting to be held on 7 July 2022 at 9:00 a.m. (Finnish time) at the Radisson Blu Marina Palace Hotel, meeting room \"Meri\" at Linnankatu 32, 20100 Turku, Finland. The registration of attendees and the distribution of voting slips will commence at the meeting venue at 8:30 a.m. (Finnish time).\n \n \n \n \n \n The Board has summoned the Extraordinary General Meeting in order to resolve on authorising the Board to decide on the issuance of shares, options or other special rights entitling to shares. Due to the nature of the Company's line of business and also taking into account the debt funding arrangement with IPF Partners announced on 28 February 2022, the authorisation to decide on the issuance of shares, options or other special rights entitling to shares provides the Company with customary and necessary means of raising capital in order to finance its business operations.\n \n \n \n \n \n The Company operates in a global industry, is listed on two stock exchanges and has been raising capital from international markets. The increasingly competitive capital markets require the Company to conduct its capital raises in a manner that fit the changing market demands. In equity raises the common practice on international capital markets is \"delivery-versus-payment\" (DVP) settlement, where the investors pay for the shares at the same moment they receive the shares.\n \n \n \n \n \n To further facilitate DVP without outside interim financing in the Finnish corporate law environment observing the demands of the international markets, the Company's Board proposes an authorization to enable a two-step share issuance mechanism, where the Company may first issue shares to itself without consideration (treasury shares) and then convey such treasury shares to investors against payment. As Finnish corporate law defines both the issuance of new shares and the conveyance of existin...