Press Release: Santhera Announces Results of Bondholders' Meeting

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OR ANY

OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

Pratteln, Switzerland, March 9, 2021 -- Santhera Pharmaceuticals (SIX:

SANN) announces that while a large majority of 89 % of bondholders

represented at yesterday's bondholders' meeting voted in favor of the

resolutions proposed by the Company, the required threshold of 2/3 of

all bonds outstanding to pass such resolutions was not met. Bondholders

may still cast their vote for the resolution that would enable a

restructuring of the CHF 60 million 5% Convertible Bonds due 2022.

A total principal amount of CHF 39,130,000 (65%) of the bonds was

represented at the meeting and thereof CHF 34,775,000 or 89% voted in

favor of the resolution. However, these votes in favor, representing 58%

of the total bonds outstanding did not meet the required threshold of

2/3 (or CHF 40 million) for the resolution to be passed. Bondholders who

have not yet cast a vote may still do so within a period of a maximum

two months, unless the Company would decide on a shorter period to

apply.

Santhera has determined that a restructuring of the Bonds is required to

enable Santhera to raise additional financing, if the pivotal VISION-DMD

readout expected for Q2-2021 is positive, and is therefore also crucial

to preserve the Company as a going concern until after such subsequent

financing.

"We are very thankful to the bondholders who already supported our

motions. At the same time, and in order to achieve this crucial

resolution for Santhera, I encourage all bondholders who have not voiced

their opinion yet to submit their votes in order for the resolution to

still be approved," said Dario Eklund, CEO of Santhera. "In anticipation

of continued bondholder support, we are looking forward to the EGM and

hope that our proposals will be approved by our shareholders."

Santhera has called an extraordinary general meeting of shareholders to

be held on March 18, 2021, where the Board will propose to the

shareholders, among other items, the authorization and issuance of the

shares required to restructure its outstanding bonds.

Related Documents

Forms to cast bondholder votes are available

https://www.globenewswire.com/Tracker?data=wdj9dMMEwtMencUGPVydK1JphuDER2J_7ap9w46Y6htf4KUAukjf21KeaLZnY5bsjR6-_juv6fkkVqh0paVhnEZppvMbCdEtnfFReMOVKPbUP98OfwzDhzd3PClOwPU1M8bwv81W2_4zsG-fC9Ge3emrwtXSg-q2iiwBI6kUavc=

here.

Invitation to the Bondholders' Meeting (March 8, 2021), the EGM (March

18, 2021) and accompanying documents:

https://www.globenewswire.com/Tracker?data=n8pqK7K7E2Oa22LhJ6Vmlvk6Ndj-W4RF1WlgGu93Puc8zBvGIFTYf4HliaN_Zac7jKXWFfyd2tKbLpzkon9-0omE0VEizcgBPdcFUFDQC9lk4ni21qg2k11EeKEK-iz_J2qHx6jaxI6wm7aEqvaWt9Zav8ver134elak9l6RhVsqQYf6vT-ZSChnaT_Fu8KI8i-3B5mRAwGuiT00qgj3wlaegIt5ngZIb4dECEY_o7MwqIdmfimE_EsZT5eJ2aGMAWy8xnlpnv__ICFxdxmFsg==

http://www.santhera.com/investors-and-media/investor-toolbox/share-bondholder-meetings

Press release "Santhera Announces Corporate Update and Proposal to

Strengthen Capital Structure":

https://www.globenewswire.com/Tracker?data=zKBzWe_EVEIXvh4XLKxC5Jliw20zVpo_D008oM-VAyluiBv5ANtMnBs3ZmI8q9VzTqetPT_T1xKCpiYWuY3hthG4Jdnv_MPXK-AP-WQ5AeZG99YdvODrr5gNiKz8cPXg6QRnwZmEcjRyTvYMJepSpjmA-TQ55FCgYenBorSZAjA=

Link.

Corporate calendar

March 18, 2021 Extraordinary General Meeting

April 27, 2021 Publication of annual

results and Annual Report 2020

June 22, 2021 Annual General Meeting

About Santhera

Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical

company focused on the development and commercialization of innovative

medicines for rare neuromuscular and pulmonary diseases with high unmet

medical need. Santhera has an exclusive license for all indications

worldwide to vamorolone, a first-in-class dissociative steroid with

novel mode of action, currently investigated in a pivotal study in

patients with DMD as an alternative to standard corticosteroids. The

clinical stage pipeline also includes lonodelestat (POL6014) to treat

cystic fibrosis (CF) and other neutrophilic pulmonary diseases as well

as an exploratory gene therapy approach targeting congenital muscular

dystrophies. Santhera out-licensed ex-North American rights to its first

approved product, Raxone(R) (idebenone), for the treatment of Leber's

hereditary optic neuropathy (LHON) to Chiesi Group. For further

information, please visit

https://www.globenewswire.com/Tracker?data=ZHfZzEqqYYrSeA4zAfWI36CLCeKAPHRcBn93jo2ZOAN59aqkMi28dj7Km36MxV03DLV1shCQvXUvjI_uKHqAsg==

www.santhera.com.

Raxone(R) is a trademark of Santhera Pharmaceuticals.

For further information please contact:

https://www.globenewswire.com/Tracker?data=ObtNGWHmOXZeRISnjVTYvrcC5btdZfHWPjtS1fK-9Sk-dv6J1RL2wuNdAo-Afjb2R3NgA4vC960njc2eCWiLIGKhn4w37ituMwDjYNJn6Jw6gjJKl071Th9uxrkk4k8x

public-relations@santhera.com or

Eva Kalias, Head External Communications

Phone: +41 79 875 27 80

eva.kalias@santhera.com

Disclaimer / Forward-looking statements

This publication is not intended to constitute an offer or solicitation

to purchase or invest in securities of Santhera Pharmaceuticals Holding

AG in any jurisdiction.

The securities referred to in this publication, including in connection

with the contemplated transaction described in this publication, may not

be publicly offered, directly or indirectly, in Switzerland within the

meaning of the Swiss Financial Services Act ("FinSA"). Neither this

communication nor any other information material relating to the

securities referred to in this publication constitutes advertisement

within the meaning of the FinSA or a prospectus pursuant to the FinSA,

and no such prospectus has been or will be prepared for or in connection

with the transaction described in this publication.

This publication does not constitute an offer to sell, or a solicitation

of an offer to purchase, any securities in the United States. The

securities of Santhera Pharmaceuticals Holding AG to which these

materials relate have not been and will not be registered under the

United States Securities Act of 1933, as amended (the "Securities Act"),

and may not be offered or sold in the United States absent registration

or an applicable exemption from, or in a transaction not subject to, the

registration requirements of the Securities Act. There will not be a

public offering of securities in the United States.

This publication may contain certain forward-looking statements

concerning Santhera Pharmaceuticals Holding AG and its business. Such

statements involve certain risks, uncertainties and other factors which

could cause the actual results, financial condition, performance or

achievements of Santhera Pharmaceuticals Holding AG to be materially

different from those expressed or implied by such statements. Readers

should therefore not place undue reliance on these statements,

particularly not in connection with any contract or investment decision.

Santhera Pharmaceuticals Holding AG disclaims any obligation to update

these forward-looking statements.

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Attachment

-- 2021 03 08_BHM_e_final

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(END) Dow Jones Newswires

March 09, 2021 01:00 ET (06:00 GMT)