UK Markets open in 5 hrs 22 mins

Achiko AG – Suspension of Trading

·3-min read
Achiko AG
Achiko AG

ZURICH, Switzerland, June 28, 2022 (GLOBE NEWSWIRE) -- Ad hoc announcement pursuant to Art. 53 LRAchiko AG (SIX: ACHI; OTCQB: ACHKF; ISIN CH0522213468) (“Achiko”, the “Company”) announces that it has received notification from SIX Exchange Regulation AG (“SER”) that the trading of Achiko’s shares shall be suspended as of Tuesday, June 28, 2022.

On June 27, 2022, SER has performed an initial review of Achiko’s annual financial statements published on June 26, 2022 and determined that they do not comply with Art.49 and Art. 51 of the Listing Rules1 (“LR”) requiring the Issuer to publish an annual financial report, comprising the audited annual financial statements in accordance with the applicable financial reporting standard, as well as the corresponding audit report. SER noted that the audit report included in the annual report 2021 of Achiko issues an Adverse Opinion and, based on the auditor’s conclusion, there is strong indication that the Issuer has breached Art. 49 and 51 LR, one of the most important conditions for maintaining a listing. Therefore, SER advised that the trading of Achiko’s shares shall be suspended based on Art. 57 LR as of Tuesday, June 28, 2022, until the orderly conditions are restored. Furthermore, SER has given Achiko AG a deadline until July 31, 2022, to publish audited financial statements in accordance with Art. 49 and 51 LR.

As noted in the Company’s ad hoc announcement of June 26, 2022, Achiko is looking forward to immediately completing a capital increase. The Company is working with its auditors, lawyers and a number of investors and financiers to resolve the situation as soon as possible and expects to be able to comply with SER’s requirement in advance of the July 31, deadline.

The Company has commenced production to supply Nahdlatul Ulama in Indonesia with its affordable, non-invasive Covid-19 saliva-based rapid test AptameX™ and this week has started supplying tests to 600 schools in Indonesia. The Company is also producing samples for prospective customers in other Asian countries, the UK, Europe and The Middle East.

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, AptameXTM and companion health apps via its digital mobile health technology division, Teman SehatTM. 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.

Media contacts:

ACHIKO AG  
Investor Relations
E: ir@achiko.com

Switzerland & Global
Marcus Balogh
Farner Consulting Ltd.
E: achiko@farner.ch  
T: +41 44 266 67 67

Disclaimer
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.