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PMD informs about the record date and procedure of reverse split of shares

At PMD's General Meeting on December 29, 2023, it was resolved, in accordance with the Board's proposal, on a reverse split in the ratio 1:128 whereby 128 shares are combined into 1 share.

With authorization from the general meeting on 29 December 2023, the Board of Directors has today set the record date for the reverse split of shares to be 1 February 2024.

The shareholder Corespring New Technology AB has undertaken to contribute shares free of charge to those shareholders whose number of shares is not evenly divisible by 128. Thus, in the reverse share split all shareholders will hold shares corresponding to a whole number of new shares and there will be no excess shares (so-called fractions). Corespring New Technology AB has also undertaken to round down its remaining shareholding in the Company to the nearest number that is evenly divisible by 128. The reverse share split entails that PMD’s number of shares decreases to 20,587,314 and the quota value of the share increases from SEK 0.04 to approximately SEK 5.1.