Approval of extension of exemptions from SIX disclosure and publicity obligations

Rhea-AI Summary

Vifor Pharma AG announced a decision approved by SIX Exchange Regulation AG on October 19, 2022, extending exemptions from various disclosure and publicity obligations until February 28, 2023. This includes not publishing the Half-Year Report 2022 and other management disclosures, except notifications regarding the delisting date. These exemptions remain valid unless specific legal actions occur related to minority shareholders. If such events arise, the issuer's obligations would immediately revive.

Positive

• Extension of disclosure exemptions until February 28, 2023.

Negative

• Potential revival of disclosure obligations if minority shareholder actions occur.

ST. GALLEN, Switzerland--(BUSINESS WIRE)-- Regulatory News:

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Vifor Pharma AG (Vifor) announced today that by decision dated October 19, 2022, SIX Exchange Regulation AG (SER) has approved an extension of the various exemptions from certain disclosure and publicity obligations granted by SER to Vifor Pharma AG previously (see Vifor Pharma AG's ad hoc announcement of August 2, 2022).

The relevant parts of the decision of SER of October 19, 2022, are as follows:

"I. Die Vifor Pharma AG (Emittent) wird im Hinblick auf die geplante Dekotierung bis und mit 28. Februar 2023 von folgenden Pflichten befreit:

a. Veröffentlichung des Halbjahresberichts 2022 (Art. 49 ff. KR i.V.m. Art. 10 ff. Richtlinie Rechnungslegung [RLR] und Art. 9 Ziff. 2.01 (2) Richtlinie Regelmeldepflichten [RLRMP]);

b. Veröffentlichung von Ad hoc-Mitteilungen (Art. 53 KR i.V.m. der Richtlinie betr. Ad hoc-Publizität [RLAhP]), davon ausgenommen ist die Veröffentlichung einer Ad hoc-Mitteilung betreffend die Bekanntgabe des Zeitpunkts der Dekotierung der Namensaktien des Emittenten, sobald dieser bestimmt ist;

c. Offenlegung von Management-Transaktionen (Art. 56 KR);

d. Führung des Unternehmenskalenders (Art. 52 KR);

e. Erfüllung der nachfolgend genannten Regelmeldepflichten (Art. 55 KR i.V.m. Art. 9 der Richtlinie Regelmeldepflichten [RLRMP]):

- Ziff. 1.05 (Änderung des Revisionsorgans);

- Ziff. 1.06 (Änderung des Bilanzstichtags);

- Ziff. 1.08 (4) (Änderung Weblink zum Unternehmenskalender);

- Ziff. 1.08 (5) (Änderung Weblink zu den Jahres- und Halbjahresberichten);

- Ziff. 2.01 (Einreichung Finanzbeschlüsse);

- Ziff. 3.05 (Beschlüsse betreffend Opting Out/Opting Up);

- Ziff. 3.06 (Änderung betreffend Vinkulierungsbestimmungen);

- Ziff. 5.02 (Meldung des bedingten Kapitals).

II. Die Befreiung gemäss Ziff. I beginnt mit Veröffentlichung der Ad hoc-Mitteilung gemäss den Vorgaben in Ziff. VI.

III. Der Emittent wird bis und mit 28. Februar 2023 von den Pflichten gemäss Ziff. I befreit, sofern und soweit keiner der folgenden Tatbestände bis zum 28. Februar 2023 eintritt:

a. Eintritt eines Minderheitsaktionärs oder mehrerer Minderheitsaktionäre in das Verfahren um Kraftloserklärung der Namensaktien des Emittenten nach Art. 137 des Bundesgesetzes über die Finanzmarktinfrastrukturen und das Marktverhalten im Effekten- und Devisenhandel vom 19. Juni 2015 (Finanzmarktinfrastrukturgesetz, FinfraG) vor dem zuständigen Gericht;

b. Rückzug der Klage um Kraftloserklärung der Namensaktien des Emittenten vor dem zuständigen Gericht durch die Klägerin oder durch eine Rechtsnachfolgerin;

c. Abweisung der Klage um Kraftloserklärung der Namensaktien des Emittenten durch das zuständige Gericht;

d. Weiterzug des Urteils des zuständigen Gerichts betreffend die Kraftloserklärung der Namensaktien des Emittenten.

Sollte einer der Tatbestände gemäss dieser Ziffer III. Bst. a. bis d. bis zum 28. Februar 2023 eintreten, leben die Pflichten des Emittenten gemäss Ziff. I umgehend wieder auf.

Im Falle eines Wiederauflebens der Pflichten gemäss Ziff. I, hat der Emittent den Halbjahresbericht 2022 innert sechs Wochen ab dem Tag des jeweiligen Wiederauflebens der Pflichten gemäss Ziff. I zu publizieren und SIX Exchange Regulation AG einzureichen (Art. 50 KR i.V.m. Art. 11 ff. RLR und Art. 9 Ziff. 2.01 (2) RLRMP)."

Unofficial English translation:

"I. In view of the envisaged delisting, Vifor Pharma AG (Issuer) is hereby exempted from the following obligations until and including 28 February 2023:

a. Publication of the Half-Year Report 2022 (art. 49 et. seq. LR in conjunction with art. 10 et seq. Directive on Financial Reporting [DFR] and art. 9 no. 2.01 (2) Directive Regular Reporting Obligations [DRRO]);

b. Publication of ad hoc notices (art. 53 LR in conjunction with the Directive on Ad Hoc Publicity [DAH]), with the exception of the publication of an ad hoc notice concerning the announcement of the date of delisting of the Issuer's registered shares as soon as such date has been determined;

c. Disclosure of management transactions (art. 56 LR);

d. Keeping of the corporate calendar (art. 52 LR);

e. Fulfillment of the following regular reporting obligations (art. 55 LR in conjunction with art. 9 DRRO):

- no. 1.05 (change of external auditors);

- no. 1.06 (change of balance sheet date);

- no. 1.08 (4) (change of weblink to the corporate calendar);

- no. 1.08 (5) (change of weblink to the annual and half-year reports);

- no. 2.01 (filing of annual reports);

- no. 3.05 (resolutions regarding opting out/ opting up);

- no. 3.06 (changes regarding restrictions on transferability of shares);

- no. 5.02 (reporting of conditional capital).

II. The exemptions pursuant to Section I shall be effective following the publication of the ad hoc notice pursuant to, and in accordance with the requirements of, Section VI.

III. The Issuer shall be exempted from the obligations pursuant to Section I until and including 28 February 2023, if none of the following events occurs by 28 February 2023:

a. Joinder of a minority shareholder or several minority shareholders to the proceedings for cancellation of the Issuer's registered shares pursuant to art. 137 of the Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading of 19 June 2015 (Financial Market Infrastructures Act, FMIA) before the competent court;

b. Withdrawal of the action for cancellation of the Issuer's registered shares before the competent court by the plaintiff or by a legal successor;

c. Dismissal of the action for cancellation of the Issuer's registered shares by the competent court;

d. The judgment of the competent court regarding the cancellation of the Issuer's registered shares is being appealed.

Should any of the events pursuant to this Section III. letter a. to d. occur until 28 February 2023, the Issuer's obligations pursuant to Section I shall revive immediately.

In the event of a revival of the obligations pursuant to Section I, the Issuer must publish and submit to SIX Exchange Regulation AG the Half-Year Report 2022 within six weeks from the date of the respective revival of the obligations pursuant to Section I (art. 50 LR in conjunction with art. 11 et seq. DFR and art. 9 no. 2.01 (2) DRRO)."

About CSL Vifor

CSL Vifor is a global partner of choice for pharmaceuticals and innovative, leading therapies in iron deficiency, dialysis and nephrology & rare disease. We specialize in strategic global partnering, in-licensing and developing, manufacturing and marketing pharmaceutical products for precision healthcare, aiming to help patients around the world lead better, healthier lives. Headquartered in St. Gallen, Switzerland, CSL Vifor also includes the joint company Vifor Fresenius Medical Care Renal Pharma (with Fresenius Medical Care).

The parent company, CSL (ASX:CSL; USOTC:CSLLY), headquartered in Melbourne, Australia, employs 30,000 people and delivers its lifesaving therapies to people in more than 100 countries. For more information about CSL Vifor visit, www.cslvifor.com.

Forward-Looking Statements

This announcement may contain statements that constitute forward-looking statements. The words “anticipate”, “believe”, “expect”, "estimate", "aim", “project”, “forecast”, “estimate”, "risk", “likely”, “intend”, “outlook”, “should”, “could”, "would", “may”, "will", "continue", "plan", "probability", "indicative", "seek", “target”, “plan” and other similar expressions are intended to identify forward-looking statements.

Any such statements, opinions and estimates in this announcement speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance and estimates. Forward-looking statements are provided as a general guide only. The forward-looking statements in this announcement are not indications, guarantees or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of CSL and Vifor and their officers, employees, agents and advisors, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct, and may cause actual results to differ materially from those expressed or implied in such statements. You are strongly cautioned not to place undue reliance on forward-looking statements.

This announcement is not a financial product or investment advice, a recommendation to acquire or sell securities or accounting, legal or tax advice. It does not constitute an invitation or offer to apply for securities. It has been prepared without taking into account the objectives, financial or tax situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial and tax situation and needs and seek legal and taxation advice appropriate for their jurisdiction. CSL and Vifor are not licensed to provide financial product advice in respect of an investment in securities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221019006063/en/

CSL Vifor Media Contact

Thomas Hutter

Mobile: +41 79 957 96 73

Email: media@viforpharma.com

CSL Investor Contact

Steve McKeon

Associate Director, Investor Relations

CSL Limited

Mobile +61 402 231 696

Email: stephen.mckeon@csl.com.au

Switzerland / Europe

Martin Meier-Pfister (IRF)

P: + 41 432 448 140

E: meier-pfister@irf-reputation.ch

Source: Vifor Pharma AG

FAQ

What exemptions has Vifor Pharma received from SER?

Vifor Pharma has been exempted from publishing the Half-Year Report 2022 and various management disclosures until February 28, 2023.

When does the exemption period for Vifor Pharma end?

The exemption period ends on February 28, 2023.

What could trigger the revival of Vifor Pharma's disclosure obligations?

The revival could be triggered by specific legal actions involving minority shareholders related to the cancellation of registered shares.

What is the significance of Vifor Pharma's delisting?

The delisting indicates potential structural changes in Vifor Pharma's operations and shareholder structure.

What is the impact of the exemption on Vifor Pharma's stakeholders?

The exemption may lead to reduced transparency for investors and stakeholders until the obligations are reinstated.