PTA-Adhoc: Biofrontera AG: Higher Regional Court of Cologne grants release of the capital increase

Thursday, 22. September 2022 13:15

Public disclosure of inside information according to article 17 MAR

Leverkusen, Germany (pta021/22.09.2022/13:15) - On September 22, 2022, the Higher Regional Court of Cologne ("OLG") issued a release decision regarding the capital increase resolved by the extraordinary shareholders' meeting held on April 07, 2022.

On April 07, 2022, the shareholders' meeting resolved under agenda item 2 to increase the company's share capital by issuing up to 7,089,673 new registered no-par value shares against cash contributions by granting an indirect subscription right.

A shareholder has filed an action for rescission and annulment against this resolution, which has so far blocked the registration of the capital increase in the commercial register.

Following this, the company filed an application for release pursuant to Section 246a of the German Stock Corporation Act (AktG) with the OLG.

With today's positive decision by the OLG, the capital increase can now be implemented in a timely manner. This will enable the Company to move forward with its strategic corporate development and its products' market penetration with maximum speed.

A judgment on the filed action for rescission and annulment has not been issued until today.

(end)

emitter: Biofrontera AG
address: Hemmelrather Weg 201, 51377 Leverkusen
country: Germany
contact person: Investor Relations
phone: +49 (0) 214 87 63 20
e-mail: ir@biofrontera.com
website: www.biofrontera.com

ISIN(s): DE0006046113 (share)
stock exchanges: regulated market in Frankfurt, Dusseldorf; free market in Stuttgart, free market in Munich; open market in Berlin, Tradegate
other stock exchanges: US OTC

[ source: https://www.pressetext.com/news/20220922021 ]

Related Links: Biofrontera AG
Author: