Financial

Implanet launches a reverse stock split

January 02, 2020 

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:

IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans) (the ‘Company’), a medical technology company specializing in vertebral and knee-surgery implants, announces today the launch of a reverse stock split on an exchange basis of 40 existing shares for 1 new share.

This technical adjustment is purely arithmetical and has no impact on the value of Implanet shares held by current shareholders.

Reverse stock split terms and conditions:

  • Starting date: The reverse stock split operations will begin today, according to the terms of the reverse stock split notice published on December 16, 2019 in the French official bulletin of legal notices (‘Bulletin des Annonces Légales Obligatoires’ – BALO).
  • Number of shares to be consolidated: 68,694,080 shares with a par value of €0.01 each.
  • Number of shares post-consolidation: 1,717,352 shares with a par value of €0.40 each.
  • Reverse stock split period and effective date: The reverse stock split operations will last from January 2nd to January 31st, 2020, inclusive. It will become effective on February 3rd, 2020. All shareholders will automatically receive from their financial intermediary 1 new Implanet share with a par value of €0.40 and all rights attached to such share, in exchange for 40 existing Implanet shares with a par value of €0.01.
  • Shares forming part: shareholders who hold a total number of shares that is an exact multiple of 40 will not need to take any action, and the reverse stock split operation will be carried out automatically as part of the usual procedure.
  • Shares forming odd lots: shareholders who do not hold a total number of shares that is an exact multiple of 40 must, between today and January 31st, 2020, inclusive, deal personally with their fractional shares by purchasing or selling directly on the market the number of existing Implanet shares needed to obtain a multiple of 40. After January 31st, 2020, shareholders who have been unable to obtain a number of shares that is an exact multiple of 40 will be compensated for their remaining fractional shares by their financial intermediary, within 30 days of February 3rd, 2020.
  • Voting rights: during the aforementioned reverse stock split period, the rights to dividends and the voting rights attached, on the one hand, to the new consolidated shares and, on the other hand, to the non-consolidated shares, will be proportional to their respective nominal value, so that any consolidated share will give the right to 40 votes and any non-consolidated share to 1 vote.
    At the end of the reverse stock split period, the non-consolidated shares will lose their voting rights and will no longer be included in the calculation of the quorum and their rights to future dividends will be suspended, it being specified that the new consolidated shares will be entitled to 1 vote each.
  • Reminder of Implanet stock market information: The existing Implanet shares
    (ISIN: FR0010458729) will be delisted from Euronext and will be replaced by the new Implanet shares (ISIN: FR0013470168) on February 3rd, 2020. The ticker will remain unchanged (ALIMP).
  • Centralization: All operations relating to the reverse stock split will be managed by CACEIS Corporate Trust, 1-3 Place Valhubert, 75013 PARIS, FRANCE, as authorized centralization agent for the reverse stock split.

Next financial press release: 2019 annual revenue, on Tuesday January 21st, 2020 (after market)

About Implanet

Founded in 2007, Implanet is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity is based on two main product ranges, the JAZZ® latest-generation implant, aimed at treating spinal pathologies requiring vertebral fusion surgery and MADISON, its implant for first-line knee prosthetic surgery. Implanet’s tried-and-tested orthopedic platform, which is based on perfect control over the traceability of its products, provides it with a proven ability to promote these innovations. Protected by four families of international patents, JAZZ® and MADISON have obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE marking. Implanet employs 38 staff and recorded 2018 revenue of €6.7 million. For further information, please visit www.Implanet.com. Based near Bordeaux in France, Implanet established a US subsidiary in Boston in 2013. Implanet is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the equity line (OCA, OCAPI, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80

Contacts

Implanet
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tel.: +33(0)5 57 99 55 55
investors@Implanet.com

NewCap
Investor Relations
Sandrine Boussard-Gallien
Claire Riffaud
Tel.: +33 (0)1 44 71 94 94
Implanet@newcap.eu

NewCap
Media Relations
Nicolas Merigeau
Tel.: +33 (0)1 44 71 94 94
Implanet@newcap.eu

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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