Current reports

Announcement on convening the Extraordinary Shareholders General Meeting of Medicalgorithmics S.A. with draft resolution of the Extraordinary General Meeting

Current Report No 36/2021

Date: 29/09/2021

Legal basis: Article 56(1)(2) of the Act on Public Offering – current and periodical information

The Management Board of Medicalgorithmics S.A. (“the Company” or “Issuer”) hereby presents in the attachment to this report 1) the announcement on convening on October 26, 2021, at 11.00, the Extraordinary Shareholders General Meeting of Medicalgorithmics S.A. (“EGM”), and 2) draft resolutions for the EGM convened for October, 26 2021.

According to the information in the current report No 35/2021 on updating information about the current situation and plans of the Medicalgorithmics Capital Group, the Issuer is announcing the EGM as a result of undertaken actions aimed at obtaining additional funds to secure the financing of the Company and the ability to continue the development strategy, as well as ensuring the Group’s liquidity.

The funds that the Company plans to raise will be used primarily to intensify sales activities, including by hiring new sellers on the U.S. market. In the opinion of the Management Board, additional financing, together with the parallel revision of operating costs incurred by the Issuer’s companies, is the best way to protect the value of the Company’s assets and to monetize the transformation of the business model.

Announcement of the EGM is the result of multi-way actions undertaken by the Management Board, which may result in obtaining financial resources for the purposes presented in the abovementioned current report. The Company identifies the need to obtain an amount within the range of USD 2.0 million – 5.0 million as sufficient for the presented purposes.

The Company assumes continuation of its operations under the current business model on the U.S. and other markets, through licensing the Company’s technology, including through territorially exclusive and non-exclusive contracts. Those operations are undertaken with the assumptions that the ownership of the intellectual property is maintained by the Issuer.

Simultaneously, the revision of strategic options available to the Company will be continued.

Detailed legal basis:

  • 19 Sec. 1 pt. 1) i 2) of the Regulation of the Minister of Finance dated March 29, 2018 on current and periodic information published by issuers of securities and on conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state.