Reverse Share Split 26:1 / Extraordinary Shareholders’ Meeting, 20 December 2018
Zug, Switzerland, 19 November 2018 – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL), a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licenses in these technologies, announces an Extraordinary Shareholders’ Meeting to take place in Zug, Switzerland, on 20 December 2018 at 8:30am CET to approve a reverse share split 26:1.
The Board of Directors proposes that the shareholders approve the merger between iQ Power Licensing AG (as transferring entity) and its wholly-owned Swiss subsidiary iQ International AG (as surviving entity) according to the terms of the merger agreement dated 19 November 2018 and based on the audited merger balance sheet of the Company as of 7 November 2018. As part of such merger, the structuring of the share capital of iQ International AG would effectuate a reverse share split at a ratio of 26:1. The merger would be carried out in line with the provisions of the Swiss Merger Act.
The reverse share split aims at improving the tradability of the shares and is a step to a potential listing on a public law regulated market in the future.
The merger documentation will be available to shareholders for inspection at the company’s as well as at iQ International’s offices at Metallstrasse 6, 6300 Zug, Switzerland, (and will be available for download on the Company’s website iQ Power. The merger documentation includes the interim balance sheet of iQ Power Licensing AG as of 7 November 2018. The interim balance sheet shows the company financials post-integration of the company Engenavis, which will be publicly announced in accordance with legal requirements. The interim balance sheet shows total assets of CHF 37,8 million and equity of CHF 22,4 million. For details please refer to the company website as noted above.
It is anticipated that the proposed merger will be consummated and filed upon its approval by the relevant shareholders’ meetings and that the shares of the surviving entity, iQ International AG, will be admitted for trading on the unregulated market segment “Open Market” (“Freiverkehr”) of Börse Berlin (Germany) under the trading symbol “IQL”.