Recent Corporate Changes at Calliditas Therapeutics
Calliditas Therapeutics AB (Nasdaq: CALT) is preparing for significant corporate changes following recent developments. The company is responding to Asahi Kasei Corporation's announcement of acquiring over 90% of its outstanding shares, taking proactive measures to adapt to these changes.
Delisting of Common Shares and ADSs
In light of these corporate actions, Calliditas' Board of Directors has made the decision to delist its common shares from Nasdaq Stockholm and its American Depositary Shares (ADSs) from the Nasdaq Global Select Market. This move aligns with the requests made by Asahi Kasei.
Timing for Delisting
The exact date for the last trading session of the Common Shares on Nasdaq Stockholm will be shared with investors once confirmation is received from the exchange. Additionally, Calliditas plans to submit a Form 25 to the U.S. Securities and Exchange Commission (SEC) around a specified date, with the expectation that the delisting of the ADSs will follow shortly thereafter.
Ending Reporting Obligations
Following the delisting, Calliditas intends to deregister its ADSs and cease its reporting obligations under the Securities Exchange Act of 1934. The company will also terminate the ADS program by notifying the depositary accordingly.
Announcement of Extraordinary General Meeting
In response to the changes in corporate governance, Calliditas has scheduled an Extraordinary General Meeting at the request of Asahi Kasei. This meeting will focus on important topics, including the appointment of a new Board of Directors, and is expected to address various key factors that will shape the company's future.
Details of the Meeting
The meeting is set to occur on a future date, where participants will discuss the company's direction and strategic actions moving forward. It is crucial for stakeholders to remain informed as these developments take place.
Contact Information for Inquiries
For those seeking further information, Åsa Hillsten, Head of IR & Sustainability at Calliditas, is available for any inquiries. She can be contacted by telephone or email for those needing clarity on these corporate actions.
About Calliditas Therapeutics
Calliditas Therapeutics is focused on the biopharmaceutical sector, dedicated to addressing orphan diseases that have unmet medical needs. Based in Stockholm, Sweden, the company continues to drive innovation within the healthcare industry. Its stocks are traded on Nasdaq Stockholm under the ticker CALTX and its ADS on the Nasdaq Global Select Market under CALT.
Frequently Asked Questions
What are the recent corporate actions taken by Calliditas?
Calliditas is pursuing the 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 is 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 plans 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 related to their shares or ADSs.
Who can I contact for more information?
For detailed inquiries, Åsa Hillsten is the contact person for any questions related to these corporate actions at Calliditas.
