Following the reverse share split, the Company will have
approximately 5,079,000 Ordinary Shares issued and
outstanding
REHOVOT, Israel, July 23,
2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN)
(TASE: EVGN) (the "Company" or "Evogene"), a leading computational
biology company targeting to revolutionize life-science-based
product discovery and development utilizing cutting edge
computational biology technologies, across multiple market
segments, announced today that a reverse share split of its issued
and outstanding Ordinary Shares, at a ratio of 1-for-10, is
expected to be implemented after market close on July 24, 2024. The Company's Ordinary Shares will
begin trading on the Nasdaq Capital Market on a post-reverse split
basis at the market open on July 25,
2024, and on the Tel Aviv Stock Exchange at the market open
on July 28, 2024, in each case under
the Company's existing trading symbol "EVGN".
The reverse share split was approved by the Company's
shareholders at the Company's Annual Meeting of Shareholders held
on June 13, 2024, to be effected at
the board of directors' discretion within approved parameters.
Following the implementation of the reverse split, the Company's
registered share capital under the Company's amended and restated
articles of association, as currently in effect (the "Articles"),
which as of the date hereof consists of NIS 3,000,000 divided
into 150,000,000 Ordinary Shares of NIS
0.02 par value each, will be adjusted to consist of
NIS 3,000,000 divided into 15,000,000
Ordinary Shares of NIS 0.2 par value
each. The reverse split will adjust the number of issued and
outstanding Ordinary Shares of the Company from approximately
50,790,000 Ordinary Shares to approximately 5,079,000 Ordinary
Shares (subject to any further adjustments based on the treatment
of fractional shares).
No fractional Ordinary Shares will be issued as a result of the
reverse split. In accordance with the Company's Articles, all
fractional shares shall be rounded to the nearest whole ordinary
share, such that only shareholders holding fractional consolidated
shares of more than half of the number of shares which
consolidation constitutes one whole share, shall be entitled to
receive one consolidated share. No cash will be paid with respect
to any fractional shares. In addition, proportionate adjustments
will be made to the number of shares issuable upon the exercise of
all outstanding options entitling the holders to purchase Ordinary
Shares (with a reciprocal increase in the per share exercise price)
and to the number of Ordinary Shares underlying outstanding
Restricted Share Units (RSUs).
About Evogene Ltd.:
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational
biology company leveraging big data and artificial intelligence,
aiming to revolutionize the development of life-science-based
products by utilizing cutting-edge technologies to increase the
probability of success while reducing development time and
cost.
Evogene established three unique tech-engines
- MicroBoost AI, ChemPass
AI and GeneRator AI. Each tech-engine is
focused on the discovery and development of products based on one
of the following core components: microbes (MicroBoost AI),
small molecules (ChemPass AI), and genetic elements
(GeneRator AI).
Evogene uses its tech-engines to develop products through
strategic partnerships and collaborations, and its five
subsidiaries including:
- Biomica Ltd. (www.biomicamed.com) developing and advancing
novel microbiome-based therapeutics to treat human disorders
powered by MicroBoost AI;
- Lavie Bio Ltd. (www.lavie-bio.com) -
developing and commercially advancing, microbiome
based ag-biologicals powered by
MicroBoost AI;
- AgPlenus Ltd. (www.agplenus.com) -developing
next generation ag chemicals for effective and
sustainable crop protection powered by ChemPass
AI;
- Casterra Ag Ltd. (www.casterra.co)–
developing and marketing superior castor seed varieties producing
high yield and high-grade oil content, on an industrial scale for
the biofuel and other industries powered by
GeneRator AI.
For more information, please visit: www.evogene.com.
Forward Looking Statements
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "may", "could", "expects", "hopes" "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates" or words of similar meaning. For example, Evogene is
using forward-looking statements in this press release when it
discusses its plan to effectuate a reverse share split of its
ordinary shares and the timing related to such reverse share
split. Such statements are based on current
expectations, estimates, projections and assumptions, describe
opinions about future events, involve certain risks and
uncertainties which are difficult to predict and are not guarantees
of future performance. Therefore, actual future results,
performance or achievements of Evogene and its subsidiaries may
differ materially from what is expressed or implied by such
forward-looking statements due to a variety of factors, many of
which are beyond the control of Evogene and its subsidiaries,
including, without limitation, the current war between Israel and each of Hamas and Hezbollah, the
possibility of escalation to a wider regional war, and any
worsening of the situation in Israel such as further mobilizations or
escalation in the northern border of Israel and those risk
factors contained in Evogene's reports filed with the applicable
securities authority. In addition, Evogene and its subsidiaries
rely, and expect to continue to rely, on third parties to conduct
certain activities, such as their field-trials and pre-clinical
studies, and if these third parties do not successfully carry out
their contractual duties, comply with regulatory requirements or
meet expected deadlines, Evogene and its subsidiaries may
experience significant delays in the conduct of their activities.
Evogene and its subsidiaries disclaim any obligation or commitment
to update these forward-looking statements to reflect future events
or developments or changes in expectations, estimates, projections
and assumptions.
Investor Relations Contact
Rachel Pomerantz Gerber I Head of
Investor Relations at Evogene
rachel.pomerantz@evogene.com I Tel:
+972-8-9311901
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SOURCE Evogene