Mithra updates on offers received in the context of its monetization process and on its Annual Report 2023

29 April 2024

| Corporate, Inside information, Regulated information

Mithra updates on offers received in the context of its monetization process and on its Annual Report 2023

Mithra has received binding offers for selected assets, including Estetra SRL, as part of its monetization process. As it stands, the aggregate amount of these offers is insufficient to ensure full repayment of all creditors of Mithra, and, therefore, the offers do not allow to create value for Mithra’s shareholders at the present time.
Mithra has requested the suspension of trading of its shares on Euronext Brussels pending continuing negotiations with offering parties.
Mithra postpones the publication of its Annual Report 2023 to a later date due to the current circumstances to reflect a situation in discontinuity.

Liege, Belgium, 29 April 2024 – 7:00 CEST – Mithra (Euronext Brussels: MITRA), a company dedicated to women’s health, announces that it has received several binding offers¹ for selected Mithra assets (particularly Estetra SRL) during the week of 22 April 2024, as part of its ongoing monetization process — first announced on 05 March 2024.

In collaboration with Stifel Investment Bank and other expert advisors, Mithra is diligently analyzing these offers, which include all shares in Estetra SRL and certain other activities and assets within the Mithra group. Mithra continues to seek potential buyers for all its activities and assets (i.e., Mithra CDMO, Novalon, Mithra R&D, Neuralis, Mithra parent co.)

As it stands, the aggregate amount of these offers is insufficient to ensure full repayment of all creditors of Mithra. Therefore, the offers received will not create value for the shareholders of Mithra, and a return to potential value is not possible at the present time. Mithra remains committed to negotiating with the offering parties to enhance the value offered, acting in the best interest of all stakeholders. The company is also considering taking appropriate action, including continuing negations for the relevant assets under court proceedings (as is the case for other assets of the Mithra group), to advance these discussions further if necessary.

Consequently, Mithra has requested the Financial Services and Markets Authority (FSMA) to suspend trading of the Company’s shares on Euronext Brussels pending the on-going negotiations.

Mithra remains committed to executing its monetization process with diligence and transparency representing the interests of all stakeholders and will continue providing timely updates to the market and stakeholders as appropriate.

Additionally, Mithra will postpone the publication of its Annual Report 2023 (originally scheduled for 30 April 2024) as it was prepared based on a going concern assumption. Instead, considering the recent events, an annual report will be prepared and published for Mithra reflecting a situation “in discontinuity” at a later date, which will be announced in a subsequent communication.

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¹ subject to certain / customary conditions

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