Indivior Shareholders Approve Resolutions to Proceed with Additional U.S. Listing
Indivior PLC announced that shareholders approved resolutions for an Additional U.S. Listing on a major stock exchange and a 5:1 share consolidation, effective October 10, 2022. The goal is to meet minimum share price thresholds required for listing, enhancing visibility in its largest market. The U.S. Listing is anticipated to become effective in Spring 2023, with the Board assessing whether to list on the New York Stock Exchange or NASDAQ. Indivior will maintain its premium listing on the London Stock Exchange and is part of the FTSE 250 index.
- Shareholders approved an Additional U.S. Listing on a major stock exchange.
- 5:1 share consolidation planned to meet U.S. listing requirements.
- Expected U.S. listing to enhance visibility and attract U.S. investors.
- None.
RICHMOND, Va., Sept. 30, 2022 /PRNewswire/ -- Indivior PLC (LON: INDV) today announced that at the General Meeting of Shareholders held earlier today, shareholders approved the resolution to proceed with an Additional Listing on a major U.S. stock exchange. Additionally, shareholders approved implementation of a 5:1 share consolidation on October 10, 2022 to enable minimum share price thresholds required by the major U.S. stock exchanges.
"We are pleased with the strong support received from shareholders that will allow us to move forward with an Additional U.S. Listing of Indivior shares on a major U.S. stock exchange," said Graham Hetherington, Chair of the Board. "We believe the Additional U.S. Listing will be beneficial in elevating Indivior's visibility and profile in its largest market and will help attract a broader group of biopharma investors."
Mr. Hetherington continued, "We anticipate that the Additional U.S. Listing will become effective in the Spring of 2023, and the Group is diligently working on all requirements to meet this timing. Indivior will retain its premium listing on the London Stock Exchange and expects to continue to be a constituent of the FTSE 250 index."
Indivior intends to make its Additional U.S. Listing on the New York Stock Exchange or the NASDAQ Stock Market, and the Board continues to assess which of the two would provide the best possible platform on which to trade Indivior shares.
The final voting results of the September 30, 2022 General Meeting are available on the Company's website at http://www.indivior.com/en/investors/shareholder-information
About Indivior
Indivior is a global pharmaceutical company working to help change patients' lives by developing medicines to treat addiction and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease. Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD, including alcohol use disorder and cannabis use disorder. Headquartered in the United States in Richmond, VA, Indivior employs more than 900 individuals globally and its portfolio of products is available in over 40 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
Forward-Looking Statements
This announcement contains certain statements that are forward-looking. By their nature, forward looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future. Actual results may differ materially from those expressed or implied in such statements because they relate to future events. Forward-looking statements include, among other things, statements regarding the Indivior Group's financial guidance for 2021, and its medium- and long term growth outlook, its operational goals, its product development pipeline and statements regarding ongoing litigation and other statements containing the words "subject to", "believe", "anticipate", "plan", "expect", "intend", "estimate", "project", "may", "will", "should", "would", "could", "can", the negatives thereof, variations thereon and similar expressions.
Various factors may cause differences between Indivior's expectations and actual results, including, among others (including those described in the risk factors described in the most recent Indivior PLC Annual Report and in subsequent releases): factors affecting sales of Indivior Group's products and financial position; the outcome of research and development activities; decisions by regulatory authorities regarding the Indivior Group's drug applications or authorizations; the speed with which regulatory authorizations, pricing approvals and product launches may be achieved, if at all; the outcome of post approval clinical trials; competitive developments; difficulties or delays in manufacturing and in the supply chain; disruptions in or failure of information technology systems; the impact of existing and future legislation and regulatory provisions on product exclusivity; trends toward managed care and healthcare cost containment; legislation or regulatory action affecting pharmaceutical product pricing, reimbursement or access; challenges in the commercial execution; claims and concerns that may arise regarding the safety or efficacy of the Indivior Group's products and product candidates; risks related to legal proceedings, including compliance with the U.S. Department of Justice Resolution and Settlement Agreements, noncompliance with which could result in potential exclusion from participating in U.S. Federal health care programs; the ongoing investigative and antitrust litigation matters; the opioid national multi-district litigation and securities class action litigation; the Indivior Group's ability to protect its patents and other intellectual property; the outcome of patent infringement litigation relating to Indivior Group's products, including the ongoing ANDA lawsuits; changes in governmental laws and regulations; issues related to the outsourcing of certain operational and staff functions to third parties; risks related to the evolving COVID-19 pandemic and the potential impact of COVID-19 on the Indivior Group's operations and financial condition, which cannot be predicted with confidence; uncertainties related to general economic, political, business, industry, regulatory and market conditions; and the impact of acquisitions, divestitures, restructurings, internal reorganizations, product recalls and withdrawals and other unusual items.
Consequently, forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. You should not place undue reliance on forward-looking statements. We cannot guarantee future results, events, levels of activity, performance, or achievements. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
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SOURCE Indivior
FAQ
What significant resolutions did Indivior shareholders approve on September 30, 2022?
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