We the shareholders, in Bioporto, hereby make a request, for and EGM, with respect for these suggestions, even in case a decision about an Emission is made, before the EGM:
Any emissions from Bioporto, can not be made, until an FDA approval is granted.
Any emissions, to make funds for a US stock market introduction, can not be made by an emission
Bioporto can not have a double Stock market registration, and must pick, what Stock market they will be on, and if a change in Stock market is decided, pay the costs via sales revenue, and move all shareholders to the new Stock market, with a ratio of 1 to 1 shares, and with all costs covered by Bioporto, so they are not on more than one Stock market, at any given moment
Regarding 1:
Bioporto have said them self, that their current cash level, is 81,1 million DKK, by the end of the year 2022. Bioporto raised a 100 million DKK in 2022, by diluting the investors future, and current potential, by 25%. Even if they have used up all these moneys, they have only done so, in a maximum of 8 months. This means that they will have money for 6-7 month, before needing to make new capital.
Based on their own statement, of increased sales, and increased focus on European sales, those 81,1 million DKK, must be expected to last, to a period, way way after FDA approval.
An emission, at this time, will if 75 million DKK is going to be raised, would meen another dilution of shareholders value, by a minimum of 10 and all up to 20%, if the emission price, will be around 1,119 DKK a piece.
Since there is no acute need for moneys, and Mr. Pare over and over again, along with Mr. Eriksen, have said, that there are enough money, to go through the FDA proces, and that they would need to make money, no earlier than, after FDA approval, should Bioporto suffer no serious consequences, from waiting a little while, and like others, cut costs, or increase efforts to make sales.
Should this requirement, not be approved at an EGM, would I recommend that Bioporto, still pay attention to us shareholders, and postpone an emission, voluntairly, until after FDA approval, and cut costs, in any way shape or form, they can, an increase sale, with a bonus in the future.
Regarding 2:
It have been seen before, that small companies dream big, and bigger than respect for their shareholders value, and risktaking, should make them do. There are no good resasons, as in absolutely no reasons at all, for shareholders, to pay for an introduction on a US Stockmarket.
Allarity, are a great exampel, of a company that picked the US stock market, after diluting the shareholders value, by a ratio of 50 to 1. They today have almost 4 times as many shares, and a single share, have plummeted, to half the value, it had, when the 50 to 1 exchange was made, by the introction to a US Stock market.
So going to "Big America", regardsless if it opens up for "instiutional investors", is no good idea, and is it only supported by good reasons, to why, Bioporto shareholders should not pay for that.
Ofcause, such a capital raising, to have enough money, for an introduction to a US stock market, would again dilute the share value, and make potential new investors less interested.
Regarding 3:
Bioporto must take a clear stand, and decide, whether to be on the Danish Stock Market, or any other Stock market.
Bioporto are not making any favors, to it's shareholders, by making a double Stock Market registration. In fact, despite being told, that it should be a benifit for shareholders, to have a double Stock Market registration, is this a false claim.
I have found no companies, that have ever been succesful, from an investor point of view, by double Stock Market registration. In fact the list of companies, that have reverted from such a decision, grows ever longer, simply because it leads to increased costs for the company, and make investors less interested in buying in to the company.
It would also be an antisocial way of thanking risktakers, that have covered the costs, of Bioportos long journey, by making a double Stock market registration. Simply because it would make their shares less valuable.
The last good reason, against a double registration, is that shareholders from USA, can if they will, buy themself into Bioporto on the Copenhagen Stock Market, rather than needed a registration in a US stock market, as the rest of us have done.
