GI DYNAMICS, INC. New share certificates on a post-consolidation basis have been despatched to holders of shares of common stock today. As previously advised in our announcement of 1 April 2015, the CHESS Depositary Interests (CDIs) in respect of the Company's shares of common stock were not consolidated and therefore CDI holders will continue to hold the same number of CDIs following the consolidation but each CDI will represent an interest in one-fiftieth of a share of common stock following the consolidation. Given this, holders of CDIs will not be receiving new holding statements.
The Company confirms that the number of securities on issue following the consolidation is as follows:
Description | Number on issue before consolidation | Number on issue after consolidation |
CDIs | 470,637,380 | 470,637,380 |
Shares of common stock | 719,257 | 71,923 |
Restricted stock units | 2,020,367 | 202,034 |
Options | 11,134,808 | 1,113,462 |
Warrants | 8 | 8 |
In accordance with the timetable published in the ASX Announcement dated 1 April 2015, deferred settlement trading ends today. Normal (T + 3) trading (ASX:GID) commences tomorrow, 17 April 2015.
For further information please contact: Robert Solomon
Vice President, Finance, Secretary and Treasurer
25 Hartwell Avenue
Lexington, MA 02421
Tel: +1 (781) 357-3246
www.gidynamics.com
US OFFICE & HEADQUARTERS: 25 Hartwell Avenue, Lexington MA 02421 T +1 (781) 357-3300 F +1 (781) 357-3301
EUROPEAN OFFICE: Prinzenallee 7, 40549 Dusseldorf, Germany T: +49 211 5239 1572
AUSTRALIAN OFFICE: Level 8, 17-19 Bridge Street, Sydney, NSW 2000 T +61 2 9325 9046
GI Dynamics, Inc., is a corporation incorporated in Delaware, USA, whose stockholders have limited liability. ARBN 151 239 388
GI Dynamics, Inc. - ASX Announcement Page 2
About GI Dynamics
GI Dynamics, Inc. (ASX: GID) is the developer of EndoBarrier®, the first endoscopically-delivered device therapy approved
for the treatment of obese type 2 diabetes with BMI ≥ 30 kg/m2, or obese patients with BMI ≥ 30 kg/m2 with ≥ 1 comorbidities, or obese patients with BMI >35 kg/m2. The liner is indicated for a maximum implant duration of 12 months. EndoBarrier is
approved and commercially available in multiple countries outside the U.S. EndoBarrier is not approved for sale in the U.S. and is limited by federal law to investigational use only in the United States. GI Dynamics is conducting a pivotal clinical trial of EndoBarrier in the U.S. for the treatment of patients who have uncontrolled type 2 diabetes and are obese. Founded in 2003,
GI Dynamics is headquartered in Lexington, Massachusetts. For more information, please visit www.gidynamics.com.
This announcement contains forward-looking statements concerning: our development and commercialization plans; our potential revenues and revenue growth, costs, excess inventory, profitability and financial performance; our ability to obtain reimbursement for our products; our clinical trials, and associated regulatory submissions and approvals; the number and location of commercial centres offering the EndoBarrier®; and our intellectual property position. These forward-looking statements are based on the current estimates and expectations of future events by the management of GI Dynamics, Inc. as of the date of this announcement and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those indicated in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks associated with the possibility that clinical trials will not be successful or confirm earlier results; risks associated with obtaining funding from third parties; risks relating to the timing and costs of clinical trials, the
timing of regulatory submissions, the timing, receipt and maintenance of regulatory approvals, the timing and amount of other expenses, and the timing and extent of third-party reimbursement; risks associated with commercial product sales, including product performance; competition; risks related to market acceptance of products; intellectual property risks; risks related to excess inventory; risks related to assumptions regarding the size of the available market, benefits of our products, product pricing, timing of product launches, future financial results and other factors including those described in our filings with the U.S. Securities and Exchange Commission. Given these uncertainties, you should not place undue reliance on these forward- looking statements. We do not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
Investor Enquiries: Media Enquiries:
United States
Michael Dale, President & CEO
+1 (781) 357-3310
United States/Europe:
Bill Berry, Berry & Company Public Relations, LLC
+1 (212) 253-8881
Australia
David Allen or John Granger
Hawkesbury Partners Pty Limited
+61 2 9325 9046
Australia:
Angela Ceberano, Flourish PR
+61 3 9092 8445
www.gidynamics.com
US OFFICE & HEADQUARTERS: 25 Hartwell Avenue, Lexington MA 02421 T +1 (781) 357-3300 F +1 (781) 357-3301
EUROPEAN OFFICE: Prinzenallee 7, 40549 Dusseldorf, Germany T: +49 211 5239 1572
AUSTRALIAN OFFICE: Level 8, 17-19 Bridge Street, Sydney, NSW 2000 T +61 2 9325 9046
GI Dynamics, Inc., is a corporation incorporated in Delaware, USA, whose stockholders have limited liability. ARBN 151 239 388
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