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ZURICH, Switzerland, June 10, 2022 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LR – Achiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) announces that Achiko will publish its annual report and its annual financial statements for the year 2021 on June 20, 2022 at the latest. As a company listed on SIX Swiss Exchange, Achiko is required to publish its annual report, together with the annual financial statements, within four months of the balance sheet date.
Due to the Covid-19 pandemic, new staffing, and training under difficult conditions in consequence of measures taken by several countries required a lot of management capacity. As a result, the publication of the annual report 2021, together with the annual financial statements and the audit report, will occur in the month of June 2022. Achiko has filed an exemption request with SIX Exchange Regulation (SER) regarding the publication of the annual report and the annual financial statements 2021. On April 28, 2022, SER granted Achiko the requested extension. Achiko filed a second extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On May 30, 2022, SER granted Achiko the second extension. Achiko filed a third extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On June 3, 2022, SER granted Achiko the third extension. Achiko filed a fourth extension request with SER regarding the publication of the annual report and the annual financial statements 2021. On June 10, SER granted Achiko the fourth extension.
The delay is a result of the matters previously announced including continuity of operations in the second half of the financial year as a result of the Covid-19 pandemic and the higher-than-expected manual administrative workload, in particular regarding the auditory reconciliation documentation.
Ahead of the Audited Financial Statements being published, the Company advises the following unaudited key financial figures:
In an earlier announcement on May 19, 2022, the Company reported an unaudited adjusted EBITDA loss of USD$5.258m and noted the adjustments of stock-based items had yet to be completed. The final unaudited stock-based payments (share options, interest, financing costs, etc.) is USD$2.711m and includes an interest component of USD$0.835m. The difference between the earlier reported adjusted EBITDA loss and the final unaudited EBITDA loss of USD$8,295m is attributable to: (1) USD$0.713m in costs associated with a Swiss subsidiary and a result of retrieval of accounting records; (2) re-inclusion of director's fees of USD$0.500m (the Board of Directors and Advisory Board fees are substantially outstanding, unpaid and majority subordinated); (3) USD$1.876m of non interest Stock based payments; and (4) other miscellaneous adjustments.
In all, the operating losses in 2021 compared to the prior year, reflect continued investment in bringing AptameX™, to commercialization in a challenging operating environment, and substantial cost reductions in the second half of 2021. Given the Company’s position at year end, it’s focus was on commercializing AptameX. To that goal, and subsequent to the end of the reporting period, the company has successfully reported in-vivo performance results of AptameX indicating a highly sensitive and highly specific test at low viral loads for Covid-19, sales and marketing agreements with the largest Islamic organization in the world, Nahdlatul Ulama in Indonesia, updated production contracts with production partner Indofarma in Indonesia, obtaining a CE Mark enabling the Company to be able to sell AptameX in Europe, and has accepted USD$1.25m in financing in a range of equity and debt instruments.
As required by SER, Achiko hereby reprints para. I of SER’s respective decision:
"The exemption application of Achiko (Issuer) dated June 10, 2022, requesting a fourth extension of the deadline to publish its 2021 annual report and to file such report with SIX Exchange Regulation AG until June 20, 2022, at the latest is granted with the following reservation (lit. a) and under the following conditions (lit. b):
SIX Exchange Regulation AG reserves the right to suspend trading of the registered shares of the Issuer in case its 2021 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange AG until Monday, June 20, 2022, 11:59 pm CET, at the latest.
Achiko is required to publish a notice in accordance with the provisions on ad hoc publicity (art. 53 LR in connection with the DAH) concerning this decision until Friday, June 10, 2022, 23.59 am CET, at the latest. The notice must contain:
˗ the unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;
˗ the reasons for the application of the Issuer requesting a fourth extension of the deadline to publish its 2021 annual report and to file such report with SIX Exchange Regulation AG.
- the updated unaudited key figures such Net Revenues, EBITDA, EBIT, profits/loss, balance sheet total, equity etc. for the annual results 2021."
The date of the next annual general meeting will be announced in due course, once the Company has published its annual report and its annual financial statements for the year 2021.
ABOUT ACHIKO AG
Achiko AG (SIX: ACHI.SW; OTCQB: ACHKF; www.achiko.com) is developing disruptive diagnostic solutions that puts people first. The company’s lead product is a rapid, reliable Covid-19 test with a companion app offering a user-friendly digital health passport. The test and companion app were launched in Indonesia in mid-2021 and an application for CE Mark approval in Europe will be submitted in 2022.
Achiko creates and develops aptamer-based diagnostics through its biotechnology division, AptameX™ and companion health apps via its digital mobile health technology division, Teman Sehat™. The AptameX DNA aptamer tests can be rapidly chemically synthesized, are cost-effective and have wide potential across multiple disease diagnostics. Leveraging AptameX and Teman Sehat, Achiko aims to deliver fast, accurate and affordable diagnostic testing for a range of pathogenic diseases and therapeutic indications in the rapidly evolving healthcare diagnostics field.
Headquartered in Zurich, Achiko has offices in Jakarta, and staff around the world.
Switzerland & Global
Farner Consulting Ltd.
T: +41 44 266 67 67
This communication expressly or implicitly contains certain forward-looking statements concerning Achiko AG and its business. Such statements involve certain known and unknown risks, uncertainties, and other factors, which could cause the actual results, financial condition, performance, or achievements of Achiko AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Achiko AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.