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OSTEOPORE LIMITED — Capital/Financing Update 2024
Feb 20, 2024
65512_rns_2024-02-20_0fea0e5f-bcb3-417b-8329-6c6259acfc3b.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
21 February 2024
Osteopore advances consolidation of capital to support long-term growth
Singapore-founded regenerative medicine company Osteopore Limited (ASX: OSX or the Company) – a global leader in 3D-printed biomimetic and bioresorbable implants – is pleased to announce that the Company’s shareholders have approved a consolidation of capital.
The capital consolidation will streamline the Company’s capital structure and support the business to continue delivering on its work plan while positioning the Company to maximise growth opportunities and shareholder value.
Osteopore’s shareholders approved the consolidation based on a ratio of [15] to [1], which means that every [15] pre-consolidation securities will be consolidated into [1] postconsolidation security.
The consolidation – effective 5 March 2024 – was approved by shareholders at a General Meeting (GM) held in Perth, Western Australia at 10.00 am (WST) on 21 February 2024, where the resolution was passed by a poll vote.
The information required to be disclosed by the Company in accordance with ASX Listing Rule 3.13.2 and Section 251AA (2) of the Corporations Act 2001 (Cth) – is attached.
Following the completion of the capital consolidation, Osteopore’s capital structure is expected to comprise approximately:
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10,327,909 post-consolidation shares
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3,522,527 post-consolidation options
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900,000 post-consolidation performance rights
The Company believes the consolidation is another key step towards maximising shareholder value and capitalising on the exciting opportunities presented by regenerative medicine.
ASX ANNOUNCEMENT
Commenting on the share consolidation Osteopore Executive Chairman Mark Leong said:
“The consolidation will streamline our capital structure and support the business to continue delivering on our growth strategy, laying the foundation for the right ecosystem to achieve revenue growth and shareholder returns.”
“Osteopore recognises the outstanding support of our shareholders, who understand the exciting potential of our Company and the regenerative medicine sector.”
ENDS
This announcement dated 21 February 2024 has been authorised for release to the ASX by the Board of Osteopore Limited .
For more information, please contact:
Mark Leong Isaac Stewart Executive Chairman Media & Investor Relations Osteopore Limited Cannings Purple T: +65 9011 7009 T: +61 423 306 795 E: [email protected] E: [email protected]
About Osteopore Limited
Osteopore Limited is a Singapore-founded regenerative medicine company and a global leader in 3D-printed biomimetic and bioresorbable implants. The Company seeks to commercialise products that stimulate natural bone healing across multiple segments.
Osteopore creates patented scaffolds using 3D-printed biomimetic and bioresorbable materials to guide and nurture bone-forming cells.
Through our proprietary manufacturing process – which uses a naturally dissolving polymer – our patented scaffolds enable bone tissue growth, significantly reducing the post-surgery complications commonly associated with permanent bone implants.
Forward-Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of Osteopore Limited, are or may be, forward-looking statements.
Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Depending on several factors, actual results may differ materially from those expressed or implied by these forward-looking statements.
ASX ANNOUNCEMENT
Results of General Meeting
Name of entity
| Results of General Meeting Name of entity |
Results of General Meeting Name of entity |
|---|---|
| Osteopore Limited | |
| ABN/ACN/ARSN/ARBN 630 538 957 |
Date of meeting |
| 630 538 957 | 21 February 2024 |
| Resolutions voted on at the meeting | Resolutions voted on at the meeting | Resolutions voted on at the meeting | Resolutions voted on at the meeting | Resolutions voted on at the meeting | If decided by poll | If decided by poll | If decided by poll | If decided by poll | If decided by poll | Proxies received | Proxies received | Proxies received | Proxies received |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Resolution | Result | Voting method |
If s250U applies |
Voted for | Voted against | Abstained* | For | Against | Abstain | Discretion | |||
| No | Short description | Number | % | Number | % | Number | Number | Number | Number | Number | |||
| 1 | Consolidation of capital | Passed | Poll | N/A | 40,592,474 | 88.04 | 5,516,951 | 11.96 | 1,000 | 40,032,887 | 5,516,951 | 1,000 | 63,873 |
- Note that votes relating to a person who abstains on an item are not counted in determining whether or not the required majority of votes were cast for or against that item.