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Press Release

Addex Publishes Extraordinary General Meeting Invitation


Posted on: 23 Feb 18

Geneva, Switzerland, 23 February 2018 - Addex Therapeutics (SIX: ADXN), the leading developer of oral allosteric modulators for neurological disorders, announced today that it has published the Invitation to its Extraordinary General Meeting which will take place on Friday, 16 March 2018, 11:00 a.m. at Addex Therapeutics Ltd, Campus Biotech, Chemin des Mines 9, CH-1202 Geneva (doors open at 10:30 a.m.).

The agenda items and proposals are as follows:

  1. Ordinary Share Capital Increase

      The Board of Directors proposes that an ordinary share capital increase be resolved in accordance with the following provisions:
       1.1.  Increase of the share capital from the current amount of CHF15,384,988 by up to CHF12,779,553 to the new amount of up to CHF28,164,541 (or CHF28,306,007 taking into consideration the 141,466 registered shares issued out of the Issuer's conditional share capital which have not yet been recorded in the commercial register), through the issuance of up to 12,779,553 fully paid-in registered shares with a nominal value of CHF1 each.
       1.2.  The issue price will be CHF3.13 per share. The shares to be issued will be entitled to dividends as of the registration of the share capital increase in the commercial register.
       1.3.  The shares to be issued will convey no preferential rights.
       1.4.  The contributions for the shares to be issued will be made in cash.
       1.5.  The shares to be issued will be subject to the transfer and registration restrictions set out in article 5 of the Articles of Association.
       1.6.  The shareholders' subscription rights will be excluded and the Board of Directors is entitled to allocate them to selected investors in a private placement.
       1.7.  The Board of Directors shall execute the capital increase and record the same with the competent commercial register within three months.
               
2.    Amendments to the Articles of Association
       2.1.  Amendment to the allocation of the conditional share capital and amendment to article 3c of the Articles of Association
      The Board of Directors proposes (i) to amend, without increasing, the existing allocation of the conditional share capital as further explained below and accordingly (ii) to amend article 3c of the Articles of Association as follows:

Version telle que proposée par le Conseil d'administration (texte actuel et inchangé en caractères normaux; suppressions en gras, italique et barré; modifications en gras et italique): Version as proposed by the Board of Directors (current and unchanged wording in normal font; deletions in bold, italics and stricken through; amendments in bold and italics):
Texte faisant foi / Binding version: Traduction informelle en anglais / Informal English translation:
Article 3c
Capital-actions conditionnel
Article 3c
Conditional Share Capital
A) Le capital-actions de la Société peut être augmenté d'un montant total maximum de CHF3'500'000.-1'941'696 par l'émission de 3'500'000 1'941'696 actions nominatives au maximum, entièrement libérées et d'une valeur nominale de CHF1 chacune, liées à l'exercice des droits d'option ou des droits de souscription attachés aux bons de jouissance attribués aux employés, aux membres du conseil d'administration et/ou aux consultants de la Société ou d'une autre société du groupe en fonction des règles respectives adoptées par le conseil d'administration. Les droits de souscription préférentiels des actionnaires sont exclus. L'acquisition d'actions nominatives par l'exercice des droits d'option ou des droits de souscription attachés aux bons de jouissance et le transfert subséquent des actions nominatives sont soumis aux restrictions prévues à l'article 5 des présents Statuts. A) The share capital of the Company may be increased by a maximum aggregate amount of CHF3'500'000.-1'941'696 through the issuance of a maximum of 3'500'000 1'941'696 registered shares, which shall be fully paid-in, with a par value of CHF1 per share by the exercise of option rights or subscription rights attached to bons de jouissance which the employees, directors and/or consultants of the Company or a group company are granted according to respective regulations of the Board of Directors. The pre-emptive rights of the shareholders are excluded. The acquisition of registered shares through the exercise of option rights or subscription rights granted to the holders of bons de jouissance and the subsequent transfer of the registered shares shall be subject to the transfer restrictions provided in Article 5 of the Articles of Association.
B) Le capital-actions de la société peut être augmenté d'un montant maximal de CHF4'192'494.-5'750'798 par l'émission de 4'192'494 5'750'798 actions nominatives au maximum, entièrement libérées et d'une valeur nominale de CHF1 chacune, liées à l'exercice de droits d'option et/ou de conversion attribués à des actionnaires de la société et/ou en relation avec l'émission par la Société ou par une autre société du groupe d'obligations ou de tout autre instrument financier. En cas de telles attributions de droits d'option et/ou de conversion, les droits de souscription préférentiels des actionnaires sont exclus. Les détenteurs de droits d'option et/ou de conversion ont un droit de recevoir les nouvelles actions. Le conseil d'administration détermine les termes des droits d'option et/ou de conversion. L'acquisition d'actions nominatives par l'exercice de droits d'option ou de conversion et le transfert subséquent des actions nominatives sont soumis aux restrictions prévues à l'article 5 des présents Statuts.
(.)
B) The share capital of the Company may be increased by a maximum aggregate amount of CHF4'192'494.-5'750'798 through the issuance of a maximum 4'192'494 5'750'798 registered shares, which shall be fully paid-in, with a par value of CHF1 per share by the exercise of option and/or conversion rights which are granted to shareholders of the company and/or in connection with the issue of bonds, similar obligations or other financial instruments by the Company or another group company. In the case of such grants of option and/or conversion rights, the advanced subscription right of shareholders is excluded. The holders of option and/or conversion rights are entitled to receive the new shares. The Board of Directors shall determine the terms of the option and/or conversion rights. The acquisition of registered shares through the exercise of option or conversion rights and the subsequent transfer of the registered shares shall be subject to the transfer restrictions provided in Article 5 of the Articles of Association.
(.)

       
       2.2.  Adoption of a new article 39 regarding the exemption from the duty to make an offer (opting-out of mandatory offer rules)
      In connection with the Opting-out, the Board of Directors proposes to resolve an opting-out of the mandatory offer rules of article 135 of the Swiss Financial Market Infrastructure Act ("FMIA") based on article 125 para. 3 FMIA by adopting a new article 39 of the Articles of Association of the Company as follows:

Texte faisant foi / Binding version: Traduction informelle en anglais / Informal English translation:
Article 39 Opting-out Article 39 Opting-out
Growth Equity Opportunities Fund IV, LLC, c/o New Enterprise Associates, 1954 Greensrping Drive, Suite 600, Timonimu, MD 21093, et New Leaf Biopharma Opportunities I, L.P., 7 Times Square, Suite 3502, New York, NY 10036, Etats-Unis, y compris, dans chaque cas, leurs associés et actionnaires, directs ou indirects, ainsi que toute autre entité ou personne (qu'elle soit fondée ou non) qui, seule ou avec des tiers, contrôle ou détient d'une autre manière une participation topique dans ces sociétés, ne sont pas soumis à l'obligation de présenter une offre publique d'acquisition selon l'art. 135 de la Loi fédérale sur l'infrastructure des marchés financiers (LIMF), qu'ils agissent seuls ou de concert selon l'art. 135 LIMF (opting-out au sens de l'art. 125 al. 3 LIMF). La clause d'opting-out susvisée expirera le 21 mars 2023, avec effet applicable à tout franchissement du seuil au sens de l'art. 135 LIMF qui surviendrait ultérieurement. Growth Equity Opportunities Fund IV, LLC, c/o New Enterprise Associates, 1954 Greensrping Drive, Suite 600, Timonimu, MD 21093, and New Leaf Biopharma Opportunities I, L.P., 7 Times Square, Suite 3502, New York, NY 10036, United States, in each case including their direct or indirect partners or shareholders as well as any other entity or person (whether incorporated or not) that alone or together with others controls or otherwise holds any relevant interest in them, are, when acting alone or in concert pursuant to art. 135 of the Swiss Federal Act on Financial Markets Infrastructures (FMIA) exempted from the duty pursuant to art. 135 FMIA (Opting-out within the meaning of art. 125 para. 3 FMIA). The foregoing Opting-out provision will expire on March 21, 2023 with effect for any crossing of the threshold pursuant to art. 135 FMIA which occurs thereafter.

The full invitation (including detailed motions and explanations, as well as the attendance procedures) are available at the Company's head office or on the internet via https://www.addextherapeutics.com/en/investors/downloads/.

About Addex Therapeutics
Addex Therapeutics (www.addextherapeutics.com) is a biopharmaceutical company focused on the development of novel, orally available, small molecule allosteric modulators for neurological disorders. Allosteric modulators are an emerging class of small molecule drugs which have the potential to be more specific and confer significant therapeutic advantages over conventional "orthosteric" small molecule or biological drugs. Addex's allosteric modulator drug discovery platform targets receptors and other proteins that are recognized as essential for therapeutic intervention - the Addex pipeline was generated from this pioneering allosteric modulator drug discovery platform. Addex's lead drug candidate, dipraglurant (mGluR5 negative allosteric modulator or NAM) has successfully completed a Phase 2a POC in Parkinson's disease levodopa-induced dyskinesia (PD-LID), and is being prepared to enter registration trials for PD-LID. In parallel, dipraglurant's therapeutic use in dystonia is being investigated. Addex's second clinical program, ADX71149 (mGluR2 positive allosteric modulator or PAM) is being developed in collaboration with Janssen Pharmaceuticals, Inc for epilepsy. In addition, ADX71441 (GABAB receptor PAM) program was awarded a $5.3 million grant by the US National Institute on Drug Abuse (NIDA, a division of National Institutes of Health, NIH) to support human studies in cocaine addiction and has been licensed to Indivior PLC. Discovery programs include GABAB PAM for CMT1A neuropathy, mGluR4PAM, mGluR7NAM, TrkBPAM and mGluR3NAM & PAM.

Press Contacts:
For Addex Therapeutics

Tim Dyer
Chief Executive Officer
Telephone: +41 22 884 15 61
PR@addextherapeutics.com
Mike Sinclair
Partner, Halsin Partners
+44 (0)20 7318 2955
msinclair@halsin.com

Disclaimer / Forward-looking statements: This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Addex Therapeutics Ltd. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.

GlobeNewswire
globenewswire.com

Last updated on: 23/02/2018

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