2CUREX AB INSIDE INFORMATION: The Board of Directors of
Background
2cureX was founded in 2007 and listed at Nasdaq First North Growth Market in 2017. 2cureX has during this period developed, clinically validated and CE IVD certified its 3D functional drug sensitivity test, IndiTreat. However, 2cureX has over the last two years experienced a significant decline in the Company's share price which has significantly affected the possibilities to raise capital. The negative trend has primarily been caused by a failed business strategy (for details see Interim Report Q4 2023).
Decision to delist the Company's shares on Nasdaq First North Growth Market and Outlook
As a result of the significant decline in the Company's share price the last two years and the current operational status of the Company, the liquidity and trading in the share on Nasdaq First North Growth Market has also significantly decreased. Qualified shareholders[1] in the Company's shares are significantly below the initial listing requirement of 300 qualified shareholders. It has also been concluded that the Company does not meet several of the applicable ongoing listing requirements on Nasdaq First North Growth Market. Furthermore, the Company is still in a severely financial distressed position as announced on
The Company is confident that it, as private company, will be able to execute on its revised business plan to develop IndiTreat® as a decentralized offering for individual hospitals.
Delisting procedure and timeline
In accordance with good practice on the Swedish stock market an application for delisting may at the earliest be filed three months after the announcement on
There will be no obligation for the Company’s shareholders to sell their shares in connection with the delisting process.
Effects on the Company's shareholders
As a result of delisting the Company's shares on Nasdaq First North Growth Market, there will effectively no longer be an active marketplace for trading of the Company's shares. Any future trades in the Company's shares will be "over-the-counter". For this reason, the liquidity of the Company's shares will decrease further. This will also mean that it becomes more difficult to execute transactions in the Company's shares which may require legal assistance. Parties involved in over-the-counter transactions must finance any needed legal assistance themselves. Furthermore, by delisting, the Company will no longer be covered by, among other things, the disclosure obligations of the Market Abuse Regulation (MAR) and the set of rules that apply to companies admitted to trading on Nasdaq First North Growth Market. However, the Company will continue to be covered by, among other things, the rules of the Swedish Companies Act and the Swedish Annual Accounts Act.
There may be changes in a shareholder's tax legal position in relation to the delisting of the shares and current shareholders might not be eligible to hold shares in a Swedish Investment Savings Account (Sw. Investeringssparkonto) after the delisting. Shareholders are encouraged to consult expertise in this regard.
[1] Shareholders holding shares with a value of at least
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