Strategic Moves by Calliditas Therapeutics
Calliditas Therapeutics AB (Nasdaq: CALT) has recently taken significant corporate actions in light of Asahi Kasei Corporation's major announcement regarding its control over shares. Asahi Kasei revealed that it now owns more than 90% of Calliditas' outstanding shares, prompting the Company to make important decisions moving forward.
Delisting of Common Shares and Termination of ADS Program
In response to the developments from Asahi Kasei, Calliditas has decided to pursue the delisting of its common shares from Nasdaq Stockholm. This action also includes the delisting of American Depositary Shares (ADSs) from the Nasdaq Global Select Market, marking a crucial step in their ongoing corporate restructuring.
Current Trading Status
The final trading day for Calliditas’ common shares on Nasdaq Stockholm will be announced soon, pending confirmation from Nasdaq. This delisting represents a significant change in Calliditas' operational framework.
Regulatory Filings and Future Plans
The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission (SEC) around mid-September. The delisting of the ADSs is expected to take effect shortly thereafter, and the Company also plans to terminate its ADS program while halting its reporting obligations under the Securities Exchange Act.
Extraordinary General Meeting on the Horizon
In accordance with Asahi Kasei's directives, Calliditas has scheduled an Extraordinary General Meeting to elect a new Board of Directors. This meeting is a crucial opportunity for the Company to establish strategic directions that align with the vision of its new shareholder.
Details of the Meeting
The upcoming meeting will cover various important governance issues, including board structure and strategic oversight.
Contact Information
If you have any questions regarding these updates, please contact:
Åsa Hillsten, Head of IR & Sustainability, Calliditas
Phone: +46 76 403 35 43, Email: [email protected]
About Calliditas Therapeutics
Based in Stockholm, Sweden, Calliditas Therapeutics is dedicated to developing innovative therapies for orphan conditions that currently lack effective treatment options. The Company aims to drive innovation in the biopharma sector, focusing on addressing unmet medical needs in specific therapeutic areas. Calliditas’ shares are actively traded on Nasdaq Stockholm under the ticker CALTX, while its ADSs are listed as CALT on the Nasdaq Global Select Market. For further details, please visit Calliditas.com.
Frequently Asked Questions
What recent actions has Calliditas Therapeutics taken?
Calliditas has announced its intention to delist from Nasdaq Stockholm and terminate its ADS program following Asahi Kasei's acquisition announcement.
What does delisting mean for Calliditas shareholders?
Delisting means that Calliditas shares will no longer be available for trading on public exchanges, which could affect liquidity for shareholders.
When is the Extraordinary General Meeting scheduled?
The Executive Board has called for the meeting to elect a new Board of Directors as a vital governance action, although the exact date has not yet been provided.
Who should be contacted for further information about Calliditas?
For inquiries, please reach out to Åsa Hillsten, the Head of Investor Relations & Sustainability at Calliditas.
What focus area does Calliditas Therapeutics specialize in?
Calliditas specializes in developing innovative treatments for orphan diseases that have significant unmet medical needs, positioning itself as a leader in the biopharma industry.
