Calliditas Therapeutics Announces Corporate Actions with Asahi Kasei
Calliditas Therapeutics' Recent Corporate Actions
In light of recent developments, Calliditas Therapeutics AB (Nasdaq: CALT) is poised to make significant corporate adjustments. Following an announcement from Asahi Kasei Corporation regarding its acquisition of over 90% of Calliditas' outstanding shares, the company is responding proactively to these changes.
Delisting of Common Shares and ADSs
As part of the corporate actions, the Board of Directors at Calliditas has decided to pursue the delisting of its common shares from Nasdaq Stockholm and its American Depositary Shares (ADSs) from the Nasdaq Global Select Market. This decision was made to align with Asahi Kasei's request.
Timing of Delisting
The precise date for the last trading session of the Common Shares on Nasdaq Stockholm will be communicated to investors as soon as confirmation is secured from the exchange. Moreover, Calliditas intends to submit a Form 25 with the U.S. Securities and Exchange Commission (SEC) on or around a specified date. The expectation is that the delisting of the ADSs will finalize shortly thereafter.
Termination of Reporting Obligations
With the delisting in place, Calliditas plans to deregister its ADSs and halt its reporting responsibilities concerning the Securities Exchange Act of 1934. Additionally, the company will terminate the ADS program by notifying the depositary.
Extraordinary General Meeting Announcement
As part of the shift in corporate governance, Calliditas has arranged an Extraordinary General Meeting, at the request of Asahi Kasei, which will focus on crucial matters like appointing a new Board of Directors. This meeting is anticipated to address several key factors shaping the future of the company.
Key Meeting Details
The meeting has been set for a future date. Participants will discuss the direction of the company and strategic actions going forward. It is vital for stakeholders to stay informed as these changes unfold.
Contact Information for Queries
For those seeking additional information, Åsa Hillsten, Head of IR & Sustainability at Calliditas, is available for inquiries. She can be reached via telephone or email for anyone needing clarity on these corporate actions.
About Calliditas Therapeutics
Calliditas Therapeutics specializes in the biopharma space, dedicated to tackling orphan diseases that present unmet medical needs. Headquartered in Stockholm, Sweden, the company continues to innovate in the health sector. Its stocks are listed on Nasdaq Stockholm under ticker CALTX and ADS on the Nasdaq Global Select Market under CALT.
Frequently Asked Questions
What are the recent corporate actions taken by Calliditas?
Calliditas is pursuing delisting of its common shares and ADSs following Asahi Kasei's acquisition of a controlling interest in the company.
Why is Calliditas delisting its shares?
The delisting comes in response to a request from Asahi Kasei, allowing the company to streamline its operations as it adjusts to the new ownership structure.
What will happen to the ADS program?
Calliditas intends to terminate the ADS program and suspend its reporting obligations under U.S. regulations.
How will these changes affect shareholders?
Shareholders will receive communication regarding the last day of trading and further steps pertaining to their shares or ADSs.
Who can I contact for more information?
For detailed inquiries, Åsa Hillsten is available as the contact person for any questions related to these corporate actions at Calliditas.
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