Onxeo Has Applied for Admission to Trading on Nasdaq First North Growth Market Denmark and Delisting from Nasdaq Main Market Copenhagen
Paris (France), November 27, 2020 – 6 pm CET - Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), (“Onxeo” or “the Company”), a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage response (DDR), in particular against rare or resistant cancers, has today, applied for the delisting of its securities from Nasdaq Main Market Copenhagen and the admission to trading on Nasdaq First North Growth Market Denmark.
This transfer will occur in connection with the planned transfer of the listing of Onxeo securities from the Euronext Paris regulated market to the Euronext Growth Paris multilateral trading facility in order to align regulatory requirements in both countries and maintain a convenient secondary listing for its Danish shareholders.
Subject to Nasdaq’s approval, the last trading day on Nasdaq Main Market Copenhagen will be 11 December 2020 and the first trading day on Nasdaq First North Growth Market Denmark will be 14 December 2020. The Company will continue to trade under ISIN code FR0010095596 and ticker symbol ONXEO on Nasdaq First North Growth Market.
The Company will no longer be subject to the disclosure requirements in the Capital Markets Act (“Kapitalmarkedsloven”) and shareholders will no longer be required to inform about their shareholdings according to the Capital Markets Act. Instead the Company will be subject to the rules of the Nasdaq First North Growth Market Rulebook that does not have the same company disclosure requirements as the Capital Markets Act and does not require shareholders to report their shareholdings in the Company.
The Company will continue to be subject to the rules and requirements of the Market Abuse Regulation.
Purpose of transfer
The purpose of both transfers is to allow Onxeo to be listed on a market which is more suitable to the Company’s size and its market capitalization. The transfers to Euronext Growth Paris and First North Growth Market Denmark should provide the Company with a regulatory framework that is better suited to a SME and reduce listing-related costs, while still benefiting from access to the financial markets.
Consequences for Onxeo shareholders
Nasdaq Main Market has the legal status of a regulated market, while Nasdaq First North Growth Market is legally considered a SME Growth Market, which is a Multilateral Trading Facility. Upon transfer from the Main Market to First North Growth Market, rules for Danish shareholders are not changed or different as regards taxes and pensions and there is no consequence on the tax treatment of capital gains and losses.
Non-Danish shareholders may be covered by other tax and pension rules, depending primarily on the tax residence of the shareholder and, among other things, on how and when the shareholder has invested in the company. These shareholders are therefore encouraged to seek independent advice in relation to the tax consequences from their own auditor and advice on pension deposits from their own bank.
In accordance with the rules of Nasdaq First North Growth Market, the Company must enter into an agreement with a Certified Adviser. The company has entered into an agreement to this effect with Kapital Partner.