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Reallocation of 4SC shares successfully completed, free float increased
According to a previous voting rights notification, on 8 May 2014 these former shareholders had still held a total of 4.93% of the shares of 4SC.
VCG Fonds III is in liquidation and was therefore required to end its long-standing involvement with 4SC for technical reasons and dispose of its entire package of shares. To remove this share overhang, 4SC thus implemented a reallocation of the shares with active support from Bankhaus Donner & Reuschel AG, placing a considerable amount of the shares with a syndicate of institutional investors via block trades. As a result of this transaction, 4SC also gained new shareholders and the free float of 4SC's shares was lifted from 30.3% at the end of the first quarter of 2014 to around 35% at present.
Enno Spillner, CEO of 4SC, commented: "We are delighted by this successful transaction. We felt that the share overhang coming from our former shareholder had a strongly negative influence on our share price in recent weeks. In our view, as a result of this selling pressure, a whole string of positive company news from 4SC could not be adequately reflected in our recent share price performance. After the removal of this share overhang and also in view of the recent extension of our cash reach through a loan by our main shareholder as well as the excellent clinical Phase I data of our drug candidate 4SC-202 in the treatment of haematological cancers recently published, in general a positive stimulus on 4SC's share price development should now be possible once again."
Cautionary statement regarding forward-looking statements
This press release contains certain forward-looking statements. Any forward-looking statement applies only on the date of this press release. By their nature, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may or may not occur in the future and as a result of which the actual results and performance may differ substantially from the expected future results or performance expressed or implied in the forward looking statements. No warranties or representations are made as to the accuracy, achievement or reasonableness of such statements, estimates or projections, and 4SC AG has no obligation to update any such information or to correct any inaccuracies herein or omission herefrom which may become apparent.
For more information please visit www.4sc.com
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