Syntellix EGM unanimously adopts resolution authorising corporate action to facilitate planned IPO in Singapore / Dr Amir Ghoreishi appointed new member of the Executive Board and CFO
Hannover, 9 May 2019.
- Authorised capital of 1.5 million shares created
- Another capital increase successfully implemented and fully placed
- Dr Ghoreishi to supervise implementation of IPO and expedite international expansion at same time
At an extraordinary general meeting (EGM) of Syntellix AG on 30 April 2019 in Hanover, the shareholders unanimously agreed to create an authorized capital of 1.5 million shares to safeguard the further dynamic development of the company, its global market rollout and the continuing rollout of the product. The company had recently received approvals for its globally unique products in Mexico and Vietnam, important growth markets that are also characterised by dynamic population growth, and had carried out a successful market launch in Indonesia, during the course of which an internationally renowned medical expert described Syntellix's magnesium-based materials technology as ‘the new gold standard’. The authorised capital that has now been created can and, if possible, will also be used to cover and complete the planned transnational IPO of the company on the Singapore Stock Exchange. The company had already successfully mastered and fulfilled important regulatory requirements for the respective IPO in Singapore.
The company's last capital increase has also been successfully implemented and completed. All shares offered within the scope of the last partial utilisation of the previous capital authorisation have been fully subscribed at the offered issue price.
The Supervisory Board of Syntellix AG has appointed Dr Amir Ghoreishi (55) as a new member of the company's Executive Board. As CFO, Dr Ghoreishi will play a key role in the further preparations for the intended IPO and, as CSO International, he will also help expedite further international expansion. Dr Ghoreishi has previously held senior positions as a management consultant at Roland Berger & Partner and as CEO of Salamander AG. He is highly experienced both on the capital markets side and internationally, particularly in China, Malaysia, Indonesia and Singapore. He has played a leading role in the success of large and innovative projects on a number of occasions and in various industries and has successfully advised on more than 100 M&A transactions, some of them most complex in nature. They include the extremely successful sale of the assets of a complete factory for a former SEAT model to Asia, something that is still unique to this day, and the future-oriented streamlining of the investment portfolio of EnBW Energie Baden-Württemberg AG.
Syntellix is an internationally operating medical technology company with headquarters in Hannover, Germany, that is undergoing dynamic organic growth. The company specialises in the research and development and marketing and sales of highly innovative transformable metallic implants. Products made from the company’s patented MAGNEZIX® are unique. In a widely acclaimed publication, they were evaluated as being superior clinically to titanium implants commonly used. MAGNEZIX® implants degrade and are bioabsorbed in the body and are transformed into the body's own bone tissue, and in doing so offer an ideal combination of stability, elasticity and bioabsorbability.
Syntellix is the world's market and technology leader in the field of bioabsorbable metallic orthopaedic implants and has already been honoured with numerous important awards and prizes. In Germany, these include the Innovation Award of the German Economy 2012/13, the Future Award 2016 of the German Healthcare Economy, the German Medical Award 2017, the STEP Award 2017 and the Innovator of the Year 2017 award; internationally, the implants were a winner in the Product of the Year category of the Sustainability Award 2018 program.