Regnon Ord Share Price (0O8O)

Can anyone explain whats happening with capital reduction? Does it mean we are going to loose a lot of share value?

When should the variation payment of €6m been received?

"NOTICE IS HEREBY GIVEN THAT the Extraordinary General Meeting of the Company will be held at Salons 1 and 2, Level 1, MGM Macau* , Avenida Dr. Sun Yat Sen, NAPE, Macau on Wednesday, 8 June 2016 at 11:45 am to consider and, if thought fit, approve (with or without amendments) the following resolutions ( *Shuttle buses of MGM Macau will depart from the New Macau Maritime Ferry Terminal from time to time): 1. AS AN ORDINARY RESOLUTION “THAT subject to and conditional upon the Listing Committee of The Stock Exchange of Hong Kong Limited (the “HK Stock Exchange”) granting approval of the listing of, and permission to deal in, the Consolidated Shares (as defined below), with effect from the business day which is a settlement day for the trading of shares of the Company on the HK Stock Exchange immediately following the date on which this resolution is passed: "(a) (i) every ten (10) ordinary shares of a nominal or par value of US$0.01 each in the issued and unissued share capital of the Company be and are hereby consolidated into one (1) ordinary share of a nominal or par value of US$0.10 each (the “Consolidated Share(s)”); and (ii) every ten (10) unclassified shares of a nominal or par value of US$0.01 each which may be issued as ordinary shares or as non-voting convertible deferred shares of a nominal or par value of US$0.01 each in the issued and unissued share capital of the Company be and are hereby consolidated into one (1) unclassified share of a nominal or par value of US$0.10 each which may be issued as an ordinary share or as a non-voting convertible deferred share of US$0.10 each (the “Consolidated Deferred Share(s)”); (b) the Consolidated Shares and Consolidated Deferred Shares shall rank pari passu in all respects with each other within the same class and have the same rights and be subject to the restrictions in respect of ordinary shares and non-voting convertible deferred shares contained in the articles of association of the Company; and (c) all fractional entitlements will be rounded down to the nearest integral number of the Consolidated Shares (collectively the “Share Consolidation”), so that immediately following the Share Consolidation, the authorised share capital of the Company will be US$235,500,000.00 divided into: (a) 2,300,000,000 ordinary shares of a nominal or par value of US$0.10 each; and (b) 55,000,000 unclassified shares of a nominal or par value of US$0.10 each which may be issued as ordinary shares or as nonvoting convertible deferred shares, AND THAT the directors of the Company (the “Directors”) be and are hereby generally authorised for and on behalf of the Company to do all such acts and things, including but not limited to execution of all documents, which the Directors deem necessary, appropriate or desirable or expedient to complete, implement and give effect to any matters relating to or i

Regent Pacific is pleased to announce that on 17 May 2016 the European Medicines Agency (“EMA”) approved the Company’s Type IB variation for the reduced dose can (not less than 12 doses/can). The variation approval also includes the addition of Pharmaserve (North West) Ltd (“PSNW”) as an alternative European Union (“EU”) located manufacturer of PSD502® spray. "The approval of the variation will now enable the Company to progress with manufacturing activities with PSNW, which will allow the Company and Recordati S.p.A. (“Recordati”) to commercially launch the reduced dose can in the UK around November 2016, with continental Europe following shortly thereafter. In addition, the variation will trigger the €6 million (or approximately US$6.77 million or HK$52.81 million) variation payment from Recordati. "Under the terms of the Company’s licence agreement with Recordati, a payment of up €10 million (or approximately US$11.28 million or HK$87.98 million) in total is payable upon first commercial sales of PSD502® in France, Germany, Italy, Spain and Portugal (being a payment of €2 million (or approximately US$2.26 million or HK$17.63 million) in respect of each of these countries). Jamie Gibson, the Chief Executive Officer, commented: “We are extremely pleased that EUDRAC Ltd, our EU regulatory consultant, was able to obtain the Type IB variation approval from EMA before our deadline of 30 June 2016 and importantly, without the need to provide additional details to the agency. The variation approval represents the final step in the successful commercialisation of PSD502® in the EU and now we are looking forward to the successful commercial launch of PSD502® in the EU. The Company continues to focus on outlicensing in other major territories and on the submission for approval by the Food and Drug Administration within the USA. We look forward to giving updates to the market on both fronts in the near term.”

Looks like PLE is down again!