Due to the definitive moratorium, declared on 23 November 2015 and extended for six months to 23 May 2016 by the Cantonal Court of Zug, on 22 December 2016, the Board of Directors of Valartis Group AG applied to SIX Exchange Regulation for an extended deadline for publication of the 2015 consolidated accounts of Valartis Group and the 2015 annual accounts of Valartis Group AG. On 18 January 2016, SIX Exchange Regulation approved the extended deadline to 7 June 2016, at the latest. This means that the annual results media conference for 2016 will take place by 7 June 2016, at the latest, and the 2016 Ordinary General Meeting will take place on 28 June 2016.
In their wording: Decision of SIX Exchange Regulation from 18 January 2016, letter of intent
| I | Postponement of publication of the 2015 Annual Report and submittance of that report to SIX Exchange Regulation by 7 June 2016, at the latest, has been approved subject to the following provision and in accordance with the following conditions: | |
| a) | Valartis Group AG must publish a media release pertaining to the present decision within five trading days after receipt of this decision, prior to 07.30 a.m., in accordance with the provisions of ad hoc publicity (Art. 53 of the Listing Regulations in conjunction with the guidelines pertaining to ad hoc publicity). The media release must include the complete wording of part I of the present decision. In addition, the ad hoc publication must include the grounds for postponement of publication and submittance of the 2015 Annual Report. | |
| b) | A draft of the ad hoc publication must be submitted for approval to SIX Exchange Regulation via e-mail by 16.00, at the latest, on the penultimate day of the time limit, in accordance with letter I a) of the present decision. | |
| c) | SIX Exchange Regulation reserves the right temporarily to discontinue trading with Valartis Group AG securities if they fail to publish the 2015 Annual Report, and submit that report to SIX Exchange Regulation by 7 June 2016, at the latest, in accordance with the provisions of ad hoc publicity (Art. 53 of the Listing Regulations in conjunction with the guidelines pertaining to ad hoc publicity). | |
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Postponement of 2016 results media conference and 2016 General Meeting
The Board of Directors and the Executive Management of Valartis Group AG currently do not expect publication of the 2015 consolidated accounts of Valartis Group and the 2015 annual accounts of Valartis Group AG to take place within the statutory period of four months following the 2015 balance sheet date (in accordance with Art. 49 - 51 and 53 of the Listing Regulations in conjunction with the guidelines pertaining to ad hoc publicity). For that reason, an application was made for an extended deadline for publication by 7 June 2016, at the latest, i.e. following the end of the definitive moratorium and with an adequate period in which to convene the Valartis Group AG shareholders` Ordinary General Meeting, which will take place on 28 June 2016.