Ad hoc announcement pursuant to Art. 53 LR

Allschwil, Switzerland, April 30, 2024

Spexis receives approval of an extension of the deadline for the publication of its 2023 annual report and audited financials until latest May 31, 2024. 

Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, today announced that the company has been granted an extension to publish its 2023 annual report from SIX Exchange Regulation AG (“SIX”), with said publication to occur no later than 31 May 2024.

Paragraph I of the SIX decision dated April 29, 2024 reads as follows:

I. The exemption request of Spexis (Issuer) dated 29 April 2024 regarding an extension of the deadline to publish its 2023 annual report and to file such report with SIX Exchange Regulation AG until 31 May 2024 at the latest is granted with the following reservation (lit.a) and under the following conditions (lit. b):
 

a. SIX Exchange Regulation AG reserves the right to suspend trading of the registered shares of the Issuer in case its 2023 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange Regulation AG until Friday, 31 May 2024, 11.59 pm CET, at the latest.

b. Spexis is required to publish a notice in accordance with the provisions on ad hoc publicity (Art. 53 LR in connection with the DAH) concerning this decision until Tuesday, 30 April 2024, 11.59 pm CET, at the latest. The notice must contain:

• the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
• the reasons for the application of the Issuer requesting an extension of the deadline to publish its 2023 annual report and to file such report with SIX Exchange Regulation AG.
   

The reason for the delay in publishing the 2023 annual report relate to i) the ongoing discussions with legal counsel and our moratorium administrator regarding the treatment of assets subject to enforcement actions undertaken by Spexis' major creditor (SPRIM Global Investments, as announced on November 29, 2023, and which we allege are wrongful) and ii) ongoing, good faith negotiations with SPRIM towards a mutually acceptable resolution of said dispute.  Accordingly, the audit costs have not been approved at this stage and a further extension may be required in respect to audited accounts.  The company firmly expects to publish unaudited financial statements by the end of May 2024.  

About Spexis

Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases and oncology. For further information please visit: www.spexisbio.com.

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Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of Spexis management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Spexis’ results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Spexis disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.