Safe Group-Effective date of the reverse split and first listing of the new consolidated shares

  • Completion of the reverse stock split and commencement of trading in the shares resulting from the reverse stock split
  • Adjustment of the characteristics of the securities
  • Reduction of the share capital

Éragny-sur-Oise, Fleurieux-sur-l’Arbresle, February 27, 2023 – Safe (ALSAF), a company specializing in the design, manufacture and marketing of ready-to-use technologies for back surgery, particularly safe for spinal fractures treated in emergency (the “Company”) announces the completion of the reverse stock split by exchanging 1 new share of 37 euros par value per share for 3,700 existing shares of 0.01 euros par value per share, in accordance with the schedule announced in a press release dated January 12, 2023. This transaction, which was carried out following a decision by the Company’s shareholders at an Extraordinary General Meeting held on December 16, 2022, took effect today.

This consolidation will allow the Company to support a new stock market dynamic and reduce the volatility of the Safe share price, which is caused by its current low value.

The 1,415,236,918 old Safe shares with a par value of €0.10 each (ISIN code: FR0013467123) were delisted from the Euronext Growth market on February 27, 2023 before the opening of the market (their last day of trading being February 24, 2023) and were replaced on the same day by 382,496 new Safe shares with a par value of €37 each (ISIN code: FR001400F1V2). The mnemonic code (ALSAF) remains unchanged.

Shareholders holding a multiple of 3,700 old shares do not need to take any action or complete any formalities. These shares have been automatically consolidated by their financial intermediary, at the rate of one (1) new share for three thousand seven hundred (3,700) old shares. Shareholders who do not hold a number of old shares forming a multiple of 3,700 will automatically receive from their financial intermediary an indemnity corresponding to the fractional shares within thirty (30) days as from March 1, 2023, i.e. at the latest on March 30, 2023.

For more information on the reverse split, shareholders are invited to consult the notice of reverse split published in the BALO N°5 of January 11, 2023 and available on the Company’s website ( and the press release published on January 12, 2023 also available on the Company’s website.

Reminder of schedule of operations:

Reverse stock split transactions 
End of the reverse stock splitFebruary 24, 2023
First listing of the new sharesFebruary 24, 2023
Record date for the delivery of the new sharesFebruary 28, 2023
Allocation of the new sharesMarch 1, 2023
Management of the old shares forming fractional shares 
Start date of the compensation of fractional shares by the financialMarch 1, 2023
Deadline for the indemnification of fractional shares by the financial intermediariesMarch 30, 2023


Adjustment of the characteristics of the securities

The Board of Directors meeting today decided to adjust the exercise parity of the securities giving access to the Company’s capital (BSA, BSPCE and OCA) by dividing it by 3,700 for all the securities. The Board of Directors has again authorized the exercise of these securities, which had been suspended by the Board of Directors for the duration of the reverse split, with effect from February 28, 2023.

In addition, the Board of Directors meeting today also decided to adjust the number of shares allocated free of charge under the 2021 bonus share plan No. 2, so that as from March 1, 2023, 1,000 AGAs will give the right to 0.02703 new shares of the Company allocated free of charge.

Reduction of the share capital

Following the reverse stock split, the Board of Directors of the Company decided today to proceed with a reduction of the share capital by reducing the par value of the Company’s shares (the unit par value of each share is thus reduced from 37 euros to 0.10 euros and the share capital to 38,249.60 euros). This purely technical operation has no impact on the value of the Company’s share price, nor on the number of outstanding shares. Thus, at the end of this operation, the Company’s share capital is still composed of 384,496 ordinary shares, i.e. the number of shares making up the share capital following the above-mentioned reverse stock split.

About Safe Group

Safe Group is a French medical technology group that brings together Safe Orthopaedics, a pioneer in ready-to-use technologies for spine pathologies, and Safe Medical (formerly LCI Medical), a medical device subcontractor for orthopaedic surgery. The group employs approximately 150 people.

Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at any time to the surgeon. These technologies are part of a minimally invasive approach aimed at reducing the risks of contamination and infection, in the interest of the patient and with a positive impact on hospitalization times and costs. Protected by 18 patent families, SteriSpineTM kits are CE marked and FDA approved. Safe Orthopaedics is headquartered in the Paris region (95610 Eragny-sur-Oise) and has subsidiaries in the United Kingdom, Germany, the United States, and the Lyon region (Fleurieux-sur-l’Arbresle).

For more information:

Safe Medical produces implantable medical devices and ready-to-use instruments. It has an innovation center and two production sites in France (Fleurieux-sur-l’Arbresle, 69210) and in Tunisia, offering numerous industrial services: design, industrialization, machining, finishing and sterile packaging. Supported by the French stimulus plan in 2020, the company invests in additive printing and will be operational in 2022 on this new technology. 

For more information:

Safe Group
François-Henri Reynaud                                 
Chief Financial and Administrative Officer                    
Tél. : +33 (0)1 34 21 50 00                                     

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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