Tag: Pakistan

REGULATED INFORMATION

Nyxoah Reports First Quarter 2023 Financial and Operating Results

Mont-Saint-Guibert, Belgium – May 16, 2023 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today reported financial and operating results for the first quarter of 2023.

Recent Financial and Operating Highlights

•  Completed all 115 implants in the DREAM U.S. pivotal trial, with 12-month data expected in the first quarter of 2024.
•  Initiated the modular PMA submission with the filing of the first module.
•  Submitted 12-month data¹ on the first 34 DREAM patients as a late-breaking abstract to SLEEP 2023 demonstrating a 65% AHI responder rate, a 76% ODI responder rate and safety in-line with expectations. The abstract will be presented in a late-breaking poster session on June 6th. These data are preliminary and not conclusive of final DREAM success.
•  Implanted the first patients in the ACCCESS U.S. IDE pivotal study to treat complete concentric collapse (CCC). Implant completion expected in 2024.
•  Hired Christoph Eigenmann as Chief Commercial Officer.
•  Raised €19 million from new and historical shareholders including ResMed, Cochlear and Robert Taub, Nyxoah’s Chairman and Founder.
•  Ended the quarter with 40 active German accounts and quarterly sales of €441 thousand.
•  Expanded European market access with first implants in Austria.
•  Strengthened the supply chain with the Belgium manufacturing facility receiving clearance from the EU notified body.

“In 2023, our focus is in the U.S. on DREAM patient follow up resulting in reaching the primary endpoints. I am excited by the data on the first 34 patients and look forward to sharing the full abstract results at SLEEP 2023 next month. Our increasing conviction in DREAM outcomes is accelerating investment in our commercial organization, starting with the addition of Christoph as Chief Commercial Officer,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “Christoph’s hire, along with the €19 million raised from key investors, puts us in a strong position as we embark on our next stage of growth.”

First Quarter 2023 Results

UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENTS OF LOSS AND OTHER COMPREHENSIVE LOSS FOR THE THREE MONTHS ENDED MARCH 31, 2023  (in thousands)

								For the three months ended March 31
						2023				2022
Revenue					€441					€660
Cost of goods sold					(175)					(289)
Gross profit					€266					€371
Research and Development Expense					(6,157)					(3,595)
Selling, General and Administrative Expense					(5,551)					(4,193)
Other income/(expense)					46					136
Operating loss for the period					€(11,396)					€(7,281)
Financial income					625					1,576
Financial expense					(958)					(788)
Loss for the period before taxes					€(11,729)					€(6,493)
Income taxes					(182)					(208)
Loss for the period					€(11,911)					€(6,701)
Loss attributable to equity holders					€(11,911)					€(6,701)
Other comprehensive loss
Items that may be subsequently reclassified to profit or loss (net of tax)
Currency translation differences					(28)					( 102)
Total comprehensive loss for the year, net of tax					€(11,939)					€(6,803)
Loss attributable to equity holders					€(11,939)					€(6,803)
Basic Loss Per Share (in EUR)					€(0.460)					€(0.260)
Diluted Loss Per Share (in EUR)					€(0.460)					€(0.260)

 UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION – CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF MARCH 31, 2023 (in thousands)

				As at
					March 31 2023		December 31 2022
	ASSETS
	Non-current assets
	Property, plant and equipment				€2,721		€2,460
	Intangible assets				42,447		39,972
	Right of use assets				3,669		3,159
	Deferred tax asset				50		47
	Other long-term receivables				169		173
					€49,056		€45,811
	Current assets
	Inventory				1,249		882
	Trade receivables				1,499		1,463
	Other receivables				1,419		1,775
	Other current assets				1,663		1,284
	Financial assets				62,403		76,968
	Cash and cash equivalents				33,664		17,888
					€101,897		€100,260
	Total assets				€150,953		€146,071
	EQUITY AND LIABILITIES
	Capital and reserves
	Capital				4,859		4,440
	Share premium				243,488		228,275
	Share based payment reserve				6,582		5,645
	Other comprehensive income				148		176
	Retained loss				(130,051)		(118,212)
	Total equity attributable to shareholders				€125,026		€120,324
	LIABILITIES
	Non-current liabilities
	Financial debt				8,381		8,189
	Lease liability				3,112		2,586
	Pension liability				25		−
	Provisions				74		59
	Deferred tax liability				−		−
					€11,592		€10,834
	Current liabilities
	Financial debt				390		388
	Lease liability				711		719
	Trade payables				5,012		4,985
	Current tax liability				3,619		3,654
	Other payables				4,603		5,167
					€14,335		€14,913
	Total liabilities				€25,927		€25,747
	Total equity and liabilities				€150,953		€146,071

Revenue

Revenue was €441,000 for the first quarter ending March 31, 2023, compared to €660,000 for first quarter ending March 31, 2022.

Cost of Goods Sold

Cost of goods sold was €175,000 for the three months ending March 31, 2023, representing a gross profit of €266,000, or gross margin of 60.3%. This compares to total cost of goods sold of €289,000 in the first quarter ending March 31, 2022, for a gross profit of €371,000, or gross margin of 56.2%.

Research and Development Expenses

Research and development expenses were €6.2 million for the three months ending March 31, 2023, versus €3.6 million for the prior year period, driven by an acceleration in clinical activities, notable the start of the ACCCESS study.

Selling, General and Administrative Expenses

Selling, general and administrative expenses rose to €5.6 million for the first quarter of 2023, up from €4.2 million in the first quarter of 2022. This was due primarily to increased commercial efforts in Germany and other European markets, as well as investments in Nyxoah’s corporate infrastructure. The Company expects to continue adding headcount across the organization ahead of the U.S. commercial launch.

Operating Loss

Total operating loss for the first quarter 2023 was €11.4 million versus €7.3 million in the first quarter of 2022. This was driven by the acceleration in the Company’s R&D spending, as well as ongoing commercial and clinical activities.

Cash Position
As of March 31, 2023, cash and financial assets totaled €96.1 million, compared to €94.9 million on December 31, 2022.  Total cash burn was approximately €4.9 million per month during the first quarter of 2023.

First Quarter 2023 Report
Nyxoah’s financial report for the first quarter of 2023, including details of the consolidated results, are available on the investor page of Nyxoah’s website (https://investors.nyxoah.com/financials).

Conference call and webcast presentation 
Nyxoah will conduct a conference call open to the public today at 10:30pm CET / 4:30pm ET, which will also be webcast. To participate in the conference call, please access the following link to register for a dial-in number: https://edge.media-server.com/mmc/p/imeku8f7

A question-and-answer session will follow the presentation of the results. To access the live webcast, go to https://investors.nyxoah.com/events. The archived webcast will be available for replay shortly after the close of the call.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and US commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements 
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; and the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2021, filed with the Securities and Exchange Commission (“SEC”) on March 24, 2022, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

---

¹ For the trial to be successful, of the 115 patients, at least 63% of patients need to be AHI and ODI responders at the 12-month follow-up.

Attachment

• ENGLISH_Q1 2023 Earnings PR_FINAL

GlobeNewswire Distribution ID 1000810492

Zoom announces investment in Anthropic to support research roadmaps and build steerable AI systems; Anthropic’s AI model will help strengthen Zoom’s federated approach across its platform, including Zoom Contact Center integrations

SAN JOSE, Calif., May 16, 2023 (GLOBE NEWSWIRE) — Today, Zoom announced a strategic partnership with and investment in Anthropic, an AI safety and research company working to build reliable, interpretable, and steerable AI systems. The collaboration with Anthropic will further bolster Zoom’s federated approach to AI by allowing Anthropic’s AI assistant, Claude, to be integrated with Zoom’s platform (which includes Team Chat, Meetings, Phone, Whiteboard, Zoom IQ), starting with Zoom Contact Center.

“Anthropic’s Constitutional AI model is primed to provide safe and responsible integrations for our next-generation innovations, beginning with the Zoom Contact Center portfolio. With Claude guiding agents toward trustworthy resolutions and powering self-service for end-users, companies will be able to take customer relationships to another level,” said Smita Hashim, chief product officer for Zoom. “Partnering with Anthropic also furthers our commitment to providing customers with our federated approach to AI, optimized to deliver outstanding customer experience outcomes. Additionally, with our investment, we are advancing leading-edge companies like Anthropic and helping to drive innovation in the Zoom ecosystem and beyond.”

“Partnering with a leading collaboration platform like Zoom allows us to put robust, steerable AI into the hands of more people and unlock its potential to help streamline everyday processes,” said Dario Amodei, CEO and co-founder of Anthropic. “We look forward to working together to showcase Anthropic’s capabilities and our joint commitment to enhancing productivity through intelligent solutions.”

Zoom’s federated approach to AI leverages its own proprietary AI models, along with those from leading AI companies — such as Anthropic — and select customers’ models. With this flexibility to incorporate multiple types of models, Zoom can provide the most value for its customers’ diverse needs. Zoom will be able to customize these models to perform better for a customer, based on their specific business needs.

As the next step in evolving the Zoom Contact Center portfolio, (Zoom Virtual Agent, Zoom Contact Center, Zoom Workforce Management), Zoom plans to incorporate Anthropic AI throughout its suite, improving end-user outcomes and enabling superior agent experiences. The Zoom Contact Center suite of solutions elevates the quality of customer experiences through better self-service and the ability to accurately understand customer intent. It intelligently guides customers to the best resolution, surfaces actionable insights that managers can use to coach their agents, and improves productivity by providing a unified communications and contact center experience. In the near future, Zoom will also use AI to provide the right resources to agents, so customers receive exceptional service experiences regardless of their reason for calling.

Announced today, Zoom Ventures has made an investment in Anthropic, strengthening the relationship between both companies. Anthropic’s research and development aims to create steerable, trustworthy, and responsible large-scale AI systems. Zoom did not disclose the amount of the investment.

About Zoom
Zoom is an all-in-one intelligent collaboration platform that makes connecting easier, more immersive, and more dynamic for businesses and individuals. Zoom technology puts people at the center, enabling meaningful connections, facilitating modern collaboration, and driving human innovation through solutions like team chat, phone, meetings, omnichannel cloud contact center, smart recordings, whiteboard, and more, in one offering. Founded in 2011, Zoom is publicly traded (NASDAQ:ZM) and headquartered in San Jose, California. Get more info at zoom.com.

Zoom Public Relations
Lacretia Taylor
press@zoom.us

GlobeNewswire Distribution ID 8840480

Momentum Continues as Depth of Clinical Experience Expands Worldwide

MARLTON, N.J., May 15, 2023 (GLOBE NEWSWIRE) — Impulse Dynamics plc, a global medical device company dedicated to improving the lives of people with heart failure (HF), announced today a worldwide milestone achievement with the 9,000th patient receiving the Optimizer^® system for the treatment of moderate HF. The Optimizer system is the only device approved by the U.S. Food and Drug Administration (FDA) in the United States to deliver CCM therapy. Dr. Steven Gubin, a cardiologist and the President of Stern Cardiovascular, is part of the care team that completed the procedure at Baptist Memorial Hospital-Memphis, offering CCM therapy to a patient living with the debilitating effects of HF. This milestone highlights the momentum building globally for CCM therapy, using the Optimizer platform to improve quality of life in HF patients.

“I am excited to have a new therapy option for heart failure patients,” said Dr. Gubin, who has been practicing for 30 years. “One of my heart failure patients, Aubretta Bean, who is a cancer survivor, continued to have symptoms despite her compliance with guideline-directed medical therapy for heart failure. She let me know that she felt better almost immediately after receiving the implant and continues to improve daily. It has been extremely rewarding to see such improvement in her quality of life. Her lab work four weeks later showed her BNP (a common test to diagnose heart failure) decreased by 81%, which is consistent with improvement in her heart failure symptoms.”

“Before my CCM implant, I could not walk from one room to the other without gasping for air. It was like being underwater and trying to breathe through a straw,” said Aubretta Bean. “Heart failure changed my life so quickly. You might think housework is a chore, but when you can’t make your bed or do the dishes, you realize how quickly you would love to do that again. Now after my Optimizer implant, I can do all these things! I look forward to planning my days again and not just trying to get through them. I have eight grandkids and two great-grandkids that I can travel to see!”

Drs. Eric Johnson, David Lan, and Chris Ingelmo are all electrophysiologists at Stern Cardiovascular that have treated ten patients at Baptist Memorial Hospital-Memphis with CCM therapy since March 2023. Dr. Chris Ingelmo completed the milestone procedure for the 9,000th patient treated with CCM therapy. The results have been encouraging, with significant improvement in patient symptoms.

“We are inspired by such stories highlighting the potential for clinicians to use CCM therapy to make a positive impact on HF patients’ lives,” said Simos Kedikoglou, MD, CEO of Impulse Dynamics. “The growing cadence of implants and the emergence of such inspiring stories reinforces our commitment to delivering meaningful advances in CCM technology and clinical data.”

CCM therapy is now available in 44 countries, and the technology has continued to advance based on the needs of patients and physicians. The latest generation of Impulse Dynamic’s proprietary Optimizer platform is the Optimizer Smart Mini, which offers a rechargeable battery with 20-year battery life and a smaller size designed to make the implant procedure faster and easier for patients and physicians.

About the Optimizer^® and CCM^® Therapy

The Optimizer Smart system delivers CCM therapy — the company’s proprietary technology — to the heart. CCM therapy has been designed by Impulse Dynamics to significantly improve the heart’s contraction, allowing more oxygen-rich blood to be pushed out through the body. CCM therapy is indicated to improve the 6-minute hall walk, quality of life, and functional status of NYHA Class III heart failure patients who remain symptomatic despite guideline-directed medical therapy, are not indicated for CRT, and have a left ventricular ejection fraction ranging from 25 to 45 percent.

CCM is the brand name for cardiac contractility modulation — the non-excitatory electrical pulses delivered by the implantable Optimizer device to improve heart contraction. CCM therapy sends unique electrical pulses to the heart cells during the absolute refractory period. In doing so, CCM helps the heart contract more forcibly. Impulse Dynamics has completed numerous clinical studies, including several randomized controlled trials, and CCM therapy has been published in more than 120 peer-reviewed journal articles.

About Impulse Dynamics

Impulse Dynamics is dedicated to advancing the treatment of heart failure for patients and the healthcare providers who care for them. The company pioneered its proprietary CCM therapy, which uses the Optimizer platform to improve quality of life in heart failure patients. CCM therapy is delivered through the Optimizer system, which includes an IPG implanted in a minimally invasive procedure and approved for commercial use in the United States and 44 countries worldwide. CCM therapy has proven safe and effective for heart failure patients with debilitating symptoms who otherwise have few effective options available to them. To learn more, visit www.ImpulseDynamics.com or follow the company on LinkedIn, Twitter, and Facebook.

Forward-looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential’’ or ‘‘continue’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements include, but are not limited to, statements concerning potential benefits of CCM therapy, the continued momentum for the adoption of CCM therapy and use of the Optimizer Smart system globally; the ability for CCM therapy and our products and technology to fill a significant unmet medical need for patients with heart failure; and the short-term and long-term benefits of the Optimizer system and CCM therapy in patients with heart failure, as well as to the physicians treating those patients. These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release include, without limitation: the company’s future research and development costs, capital requirements and the company’s needs for additional financing; company’s ability to expand and grow its business into new geographic markets; commercial success and market acceptance of CCM therapy; the company’s ability to achieve and maintain adequate levels of coverage or reimbursement for its Optimizer systems or any future products the company may seek to commercialize; competitive companies and technologies in the industry; the company’s ability to expand its indications and develop and commercialize additional products and enhancements to its current products; the company’s business model and strategic plans for its products, technologies and business, including its implementation thereof; the company’s ability to expand, manage and maintain its direct sales and marketing organization; the company’s ability to commercialize or obtain regulatory approvals for CCM therapy and its products, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally, including healthcare reform measures in the United States and international markets; the timing or likelihood of regulatory filings and approvals; and the company’s ability to establish and maintain intellectual property protection for CCM therapy and products or avoid claims of infringement. The company does not undertake any obligation to update forward-looking statements and expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date of this press release.

Rohan More, Global Vice President of Marketing
Impulse Dynamics
856-642-9933
rmore@impulsedynamics.com

Harriss Currie, Chief Financial Officer
Impulse Dynamics
856-642-9933
hcurrie@impulsedynamics.com

Ian Segal, Public Relations Manager
Impulse Dynamics
856-642-9933
isegal@impulsedynamics.com

GlobeNewswire Distribution ID 8839792

The delivery of a record-breaking, full end-to-end small and medium-sized enterprises commercial line in under 60 days for Argyle Insurance was enabled by remarkable teamwork and technology

Boston, May 15, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, is pleased to recognize Argyle Insurance and Coforge as winners of this year’s Duck Creek Standard of Excellence Award. Team members from Argyle Insurance and Coforge received the award during Formation ’23 in Orlando, Florida, which was earned for achieving the highest level of excellence through the implementation of Duck Creek solutions.

Argyle Insurance achieved a successful, sub-60-day go-live of Duck Creek Policy, Duck Creek Billing and Duck Creek Rating. The swift implementation was enabled by the deep domain expertise of Duck Creek’s team, combined with a skilled partner in Coforge being able to resource and support delivery end-to-end. Argyle Insurance selected Duck Creek’s full suite to enable their small and medium-sized enterprises (SME) broker clients more choices and competition through a wider range of insurers and products. Argyle’s story of a scalable, enterprise-grade system, which allowed rapid design and delivery of products into the market, demonstrated the impressive power and flexibility of the Duck Creek platform. The sub-60-day execution was achieved using an innovative Australian SME template built by the Duck Creek APAC regional product development team and made available on our content exchange.

“I am proud to say the unparalleled teamwork between Argyle Insurance, Duck Creek and Coforge enabled us to stand up a full end-to-end product with Duck Creek’s policy, billing and rating solutions in under 60 days,” said Matt Morgan, Co-Founder and Chief Operating Officer at Argyle Insurance. “This capability is critical for both start-ups like Argyle Insurance and incumbents to adjust and adapt to the rapid changes happening across the insurance landscape driven by regulatory changes and customer market dynamics, which can have a big impact on insurer success.”

“As a Premier Delivery Partner for Duck Creek Technologies, with 800+ Duck Creek SME’s globally, Coforge is proud to be a part of Argyle’s record-setting go-live journey. This partnership between Coforge, Argyle and Duck Creek Technologies is an outstanding case of seamless collaboration and has set a new benchmark in the industry,” said Rajeev Batra, EVP, Insurance, Coforge.

“Right from the beginning, to achieve the goal of going live in such an accelerated timeline meant remarkable teamwork was going to be critical,” said Mike Jackowski, Chief Executive Officer, Duck Creek Technologies. “All parties were hyper-focused on Argyle’s success during implementation and committed to helping the startup achieve its goals of partnering with brokers to build products that can capture profitable, large market share in a mature, stable market with the agility the Duck Creek platform provides. We focus on driving better, easier-to-understand insurance products tailored to policyholders’ needs and adaptable to their changing priorities.”

About Argyle Insurance
Argyle Insurance is a true digital underwriting agency with technology to meet customers changing insurance requirements. Argyle’s strength comes through innovation. It has delivered a new way to connect customers to their brokers digitally that comes with a suite of tools to interact in more meaningful ways.

About Coforge
Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provides us a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high growth enterprises. Coforge’s proprietary platforms power critical business processes across its core verticals. The firm has a presence in 21 countries with 25 delivery centers across nine countries.
Learn more at www.coforge.com

About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Carley Bunch
Duck Creek Technologies
+1 201 962 6091
carley.bunch@duckcreek.com

GlobeNewswire Distribution ID 8839514

REGULATED INFORMATION
May 12, 2023, 7:00am CET / 1:00am ET

NYXOAH SA
(Euronext Brussels: NYXH)
Rue Edouard Belin 12, 1435 Mont-Saint-Guibert, Belgium
(hereinafter the “Company”)

Invitation to Attend the Annual Shareholders’ Meeting of the Company
to be Held on June 14, 2023

The board of directors of the Company is pleased to invite its securities holders to attend the annual shareholders’ meeting of the Company, to be held on Wednesday, June 14, 2023 at 2:00 p.m. CET at the Company’s seat, or at such other place as will be indicated prior to such time.

The Company will also set up a video conference to allow holders of securities of the Company who have duly registered for the annual shareholders’ meeting to follow the meeting remotely and ask questions, as the case may be in writing, during the meeting. The modalities to attend the meeting via video conference will be communicated to the relevant securities holders in due time. The video conference will not qualify as an electronic communication tool to attend and vote at the shareholders’ meeting as referred to in Article 7:137 of the Belgian Code of Companies and Associations, but will be an extra facility for securities holders to follow the shareholders’ meeting. Holders of securities wishing to attend the meeting via video conference and also validly vote on the items on the agenda, are invited to exercise their voting rights prior to the shareholders’ meeting by following the rules set out in this convening notice, either by voting remotely by mail, or by giving a proxy to a representative of the Company.

In order to facilitate the keeping of the attendance list on the day of the annual shareholders’ meeting, the holders of securities issued by the Company and their representatives are invited to register as from 1:30 p.m. CET.

AGENDA OF THE ANNUAL SHAREHOLDERS’ MEETING

1. Acknowledgement and discussion of:

1. the statutory annual accounts for the financial year ended on December 31, 2022;
2. the consolidated financial statements for the financial year ended on December 31, 2022;
3. the annual report of the board of directors on the statutory annual accounts for the financial year ended on December 31, 2022;
4. the annual report of the board of directors on the consolidated financial statements for the financial year ended on December 31, 2022;
5. the statutory auditor’s report on the statutory annual accounts for the financial year ended on December 31, 2022; and
6. the statutory auditor’s report on the consolidated financial statements for the financial year ended on December 31, 2022.

1.      Approval of the statutory annual accounts for the financial year ended on December 31, 2022 and the proposed allocation of the result

Proposed decision: The shareholders’ meeting decides to approve the annual accounts for the financial year ended on December 31, 2022 and the allocation of the result as proposed by the board of directors.

2.      Discharge of directors

Proposed decision: The shareholders’ meeting decides to grant discharge to each of the directors who was in office during the financial year ended on December 31, 2022 (including Mr. Donald Deyo, Mr. Jan Janssen and Mr. Raymond Cohen who resigned as directors in 2022) for the performance of their mandate during that financial year.

3.      Discharge of the statutory auditor

Proposed decision: The shareholders’ meeting decides to grant discharge to the statutory auditor who was in office during the financial year ended on December 31, 2022 for the performance of his mandate during that financial year.

4.      Acknowledgement and approval of the remuneration report

Proposed decision: The shareholders’ meeting decides to approve the remuneration report.

5.      Acknowledgement and approval of the amended remuneration policy

Upon the recommendation of the remuneration committee, the board of directors proposes to amend the remuneration policy of the Company to include in the remuneration policy the justification for deviating from provision 7.12 of the 2020 Belgian Code on Corporate Governance (the “2020 Code”) which requires the board to include, in the contracts with the CEO and other members of executive management, provisions that would enable the Company to recover variable remuneration paid, or withhold the payment of variable remuneration, and specify the circumstances in which it would be appropriate to do so, insofar as enforceable by law.

The board of directors believes that this provision of the 2020 Code is not appropriate and adapted to take into account the realities of companies in the life sciences industry that are still in a development phase nor considers that it is necessary to apply claw-back provisions as (i) the pay-out of the short-term variable remuneration, based on the achievement of one or more individual objectives and one or more Company objectives as set by the board of directors, is paid only upon achievement of those objectives, and (ii) the Company does not apply any other performance-based remuneration or variable compensation.

Furthermore, the ESOP warrant plans set up by the Company contain bad leaver provisions that can result in the unexercised share options, whether vested or not, automatically and immediately becoming null and void if the agreement or other relationship between the holder and the (relevant subsidiary of the) Company is terminated for “cause”. Notwithstanding the Company’s position that warrants are not to be qualified as variable remuneration (when not depending on performance criteria), the board of directors is of the opinion that such bad leaver provisions sufficiently protect the Company’s interests and that it is therefore currently not necessary to provide for additional contractual provisions that give the Company a contractual right to reclaim any (variable) remuneration from the members of the executive management.

For those reasons, there are no contractual provisions in place between the Company and the members of the executive management that give the Company a contractual right to reclaim from said executives any variable remuneration that would be awarded.

Proposed decision: The shareholders’ meeting decides to approve the amended remuneration policy.

6.      Appointment of director

On January 8, 2023, the board of directors decided to appoint Wildman Ventures LLC (permanently represented by Mr. Daniel Wildman) on a provisional basis (“cooptation”) as a director in order to replace Mr. Raymond Cohen in accordance with Article 7:88 of the CCA and article 13 of the Company’s articles of association. Based on the information made available by Mr. Daniel Wildman, it was determined that both Wildman Ventures LLC and Mr. Daniel Wildman satisfy the applicable requirements for Wildman Ventures LLC (permanently represented by Mr. Daniel Wildman) to be appointed as an independent director in accordance with Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code. Mr. Daniel Wildman also explicitly declared that neither he nor Wildman Ventures LLC has any connections with the Company or an important shareholder, which would interfere with their independence. The board of directors recommends that the appointment of Wildman Ventures LLC (permanently represented by Mr. Daniel Wildman) as independent director be confirmed and that Wildman Ventures LLC (permanently represented by Mr. Daniel Wildman) completes Mr. Raymond Cohen’s term of office ending at the annual shareholders’ meeting to be held in 2024.

Proposed decision: The shareholders’ meeting decides to confirm the appointment of Wildman Ventures LLC, with address at 12520 Sunnydale Drive, Wellington, FL 33414, USA, and permanently represented by Mr. Daniel Wildman, as an independent director of the Company within the meaning of Article 7:87 of the CCA and provision 3.5 of the 2020 Belgian Corporate Governance Code, completing Mr. Raymond Cohen’s term of office ending at the annual shareholders’ meeting to be held in 2024. The mandate of Wildman Ventures LLC (permanently represented by Mr. Daniel Wildman) is remunerated as provided for the non-executive (independent) members of the board of directors in the Company’s remuneration policy as adopted by the shareholders’ meeting and as decided by the annual shareholders’ meeting of June 8, 2022.

ADMISSION FORMALITIES AND PARTICIPATION IN THE SHAREHOLDERS’ MEETING

In order to attend the shareholders’ meeting on June 14, 2023, the holders of shares and subscription rights are requested to comply with articles 26 and 27 of the Company’s articles of association and the following formalities.

The holders of subscription rights issued by the Company can, in accordance with Article 7:135 of the Belgian Code of Companies and Associations, only attend the shareholders’ meeting with a consultative vote.

In order to be able to participate in the annual shareholders’ meeting, a holder of securities issued by the Company must satisfy two conditions: (a) be registered as holder of such securities on the registration date and (b) notify the Company, as described below.

Registration date

The registration date is May 31, 2023 at midnight (Belgian time). Only persons registered as securities holders on that date and time will be entitled to attend and (if they are shareholders) vote at the meeting. The number of securities held by the securities holder on the day of the meeting will not be taken into account.

• Holders of registered shares or subscription rights must be registered in the Company’s share register or subscription rights register, as the case may be, by midnight (Belgian time) on May 31, 2023.
• Holders of dematerialised shares must deliver, or have delivered, to the Company, at the latest on June 8, 2023 at midnight (Belgian time), a certificate issued by the authorised account holder or by the settlement institution certifying the number of dematerialised shares registered in the name of the shareholder in its accounts on the registration date, for which the shareholder has declared his intention to participate in the meeting. This certificate must be sent to the Company by e-mail to shareholders@nyxoah.com.

Intention to participate in the meeting

The securities holders must inform the board of directors of the Company by e-mail to shareholders@nyxoah.com, no later than June 8, 2023, of their intention to participate in the meeting, indicate the number of securities for which they intend to vote, and, for holders of dematerialized shares, present proof of their registration as a shareholder on the registration date.

In order to attend the meeting, securities holders and proxy holders must prove their identity and representatives of legal entities must submit documents establishing their identity and their power of representation, at the latest immediately before the start of the meeting.

Voting by proxy or by mail

Shareholders can exercise their voting rights prior to the meeting either (i) by voting by mail or (ii) by giving a proxy to a representative of the Company.

If shareholders vote by proxy, the proxy holder will be a representative of the Company. This proxy holder may only exercise the voting right in accordance with the voting instructions contained in the proxy.

The proxy voting form and the form for voting by mail approved by the Company must be used for this purpose. These forms can be downloaded from the Company’s website (https://investors.nyxoah.com/shareholder-information > Shareholders’ Meetings).

If shareholders vote by proxy or by mail, they must, in addition to the above formalities, send by e-mail to shareholders@nyxoah.com a duly completed and signed proxy voting form or form for voting by mail. These documents must reach the Company no later than June 8, 2023.

Note that the proxy voting forms and the forms for voting by mail may be signed by using an electronic signature as provided for in Article 7:143 § 2 of the Belgian Code of Companies and Associations.

Participation in the virtual shareholders’ meeting

Securities holders wishing to participate remotely, virtually and in real time, to the Company’s annual shareholders’ meeting are required to confirm their participation and communicate their e-mail address to the Company by June 8, 2023 at the latest by e-mail to shareholders@nyxoah.com.

A few days before the shareholders’ meeting, securities holders who have completed this formality will receive by e-mail (at the address they will have communicated to the Company) a link, and as the case may be a user name and a password, enabling them to follow and participate in the shareholders’ meeting via their computer, tablet or smartphone.

Just before the start of the shareholders’ meeting, the securities holders will have to click on the link that will have been previously communicated to them by e-mail, and as the case may be enter their user name and password, in order to join the virtual shareholders’ meeting.

Securities holders attending the virtual shareholders’ meeting will have the opportunity to view the live broadcast of the meeting in real time and to ask questions to the directors, as the case may be in writing, during the meeting regarding the items on the agenda.

New agenda items, proposed decisions and right to ask questions

Shareholders holding at least 3% of the capital who wish to request the inclusion of new items on the agenda or to submit proposals for decision must, in addition to the above formalities, establish on the date of their request proof of ownership of the required participation in the capital and send the text of the agenda items and the proposed decisions by e-mail to shareholders@nyxoah.com, no later than May 23, 2023. The request must also mention the e-mail address to which the Company will send the confirmation of receipt of the request.

The case being, the revised agenda will be published no later than May 30, 2023.

Shareholders who wish to do so may send any questions they may have to the Company, relating solely to the agenda of the annual shareholders’ meeting, by e-mail to shareholders@nyxoah.com, no later than June 8, 2023. The answers to these questions will be provided during the annual shareholders’ meeting in accordance with applicable law.

Documentation

All documents concerning the annual shareholders’ meeting that are required by law to be made available, as well as the total number of shares and voting rights outstanding, are available on the Company’s website on: https://investors.nyxoah.com/shareholder-information. The documents are also available at the seat of the Company and can only be consulted by appointment made by e-mail (shareholders@nyxoah.com). Shareholders may also obtain a hard copy of these documents free of charge by sending an e-mail to shareholders@nyxoah.com.

The aforementioned formalities, as well as the instructions on the Company’s website and on the proxy voting forms and forms for voting by mail must be strictly observed.

Various

Quorum: There is no particular quorum requirement for the deliberation and voting of the decisions proposed in the agenda of the annual shareholders’ meeting.

Voting: Each share entitles the holder to one vote.

Majority: In accordance with applicable law, the decisions proposed in the agenda of the annual shareholders’ meeting will be adopted if they are approved by a simple majority of the votes validly cast by the shareholders present or represented at the shareholders’ meeting.

Personal data: The Company is responsible for the processing of personal data that it receives or collects from holders of securities issued by the Company and agents in connection with the Company’s shareholders’ meeting.

The processing of such data will be carried out for the purpose of organizing and holding the shareholders’ meeting, including convening, registration, attendance and voting, as well as maintaining lists or registers of securities holders and for purposes of analysis of the Company’s securities holders’ base.

The data includes, but is not limited to, the following: identification data, the number and nature of a holder’s securities issued by the Company, proxies and voting instructions. This information may also be transferred to third parties for the purpose of assisting or servicing the Company in connection with the foregoing.

The processing of such data will be carried out, mutatis mutandis, in accordance with the Company’s privacy notice available on the Company’s website: https://www.nyxoah.com/privacy-notice-nyxoah.

The Company draws the attention of holders of securities issued by the Company and agents to the description of the rights they may have as data subjects, such as, inter alia, the right of inspection, the right to rectify and the right to object to processing, which are set out in the section entitled “What rights can you exercise?” of the aforementioned privacy notice.

All this is without prejudice to the applicable rules on registration, use of information and participation in shareholders’ meeting in order to exercise your rights as a data subject. For any other information relating to the processing of personal data by or on behalf of the Company, the Company can be contacted by e-mail at privacy@nyxoah.com.

The board of directors

Attachment

• ENGLISH – ASM 2023 convening notice – PR – ENG

GlobeNewswire Distribution ID 1000809599

NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm reminds purchasers of the securities of Marathon Digital Holdings, Inc. (NASDAQ: MARA) between May 10, 2021 and February 28, 2023, both dates inclusive (the “Class Period”), of the important May 30, 2023 lead plaintiff deadline.

SO WHAT: If you purchased Marathon securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Marathon class action, go to https://rosenlegal.com/submit-form/?case_id=3108 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 30, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding Marathon’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Marathon overstated the efficacy of its disclosure controls and procedures and internal control over financial reporting; (2) as a result, Marathon’s revenues and cost of revenue were materially misstated during the Class Period; (3) the foregoing, once revealed, was reasonably likely to have a material negative impact on Marathon’s financial condition; and (4) as a result, Marathon’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Marathon class action, go to https://rosenlegal.com/submit-form/?case_id=3108 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————–

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8837636