Bioretec Ltd has on 20th May 2024 received a notification in accordance with the Securities Market Act, according to which the holdings of shares and votes of Stephen Industries Inc Oy in Bioretec Ltd have before 19 April 2024 crossed the threshold of 10%. The reason for the flagging notification is the amendment to the Securities Market Act, which expanded the flagging obligation to companies listed on the Nasdaq First North Growth Market Finland.
Total position of Stephen Industries Inc Oy according to the notification:
+----------------+------+-----------+---------+---------------------------+
|                |% of  |% of shares|Total of |Total number of shares and |
|                |shares|and voting |both in %|voting rights of the issuer|
|                |and   |rights     |         |                           |
|                |voting|through    |         |                           |
|                |rights|financial  |         |                           |
|                |      |instruments|         |                           |
+----------------+------+-----------+---------+---------------------------+
|Resulting       |10.85%|0%         |10.85%   |20,336,858                 |
|situation on the|      |           |         |                           |
|date on         |      |           |         |                           |
|which threshold |      |           |         |                           |
|was crossed or  |      |           |         |                           |
|reached         |      |           |         |                           |
+----------------+------+-----------+---------+---------------------------+
|Position of     |      |           |         |                           |
|previous        |      |           |         |                           |
|notification    |      |           |         |                           |
|(if applicable) |      |           |         |                           |
+----------------+------+-----------+---------+---------------------------+
Notified details of the resulting situation on the date on which the threshold was crossed:
+------------+---------+-------------+------+--------------------------+
|            |Number of              |% of                             |
|            |shares                 |shares                           |
|            |and                    |and                              |
|            |voting                 |voting                           |
|            |rights                 |rights                           |
+------------+---------+-------------+------+--------------------------+
|Class/type  |Direct   |Indirect (SMA|Direct|Indirect (SMA 9:6 and 9:7)|
|of shares   |(SMA 9:5)|9:6 and 9:7) |(SMA  |                          |
|ISIN code   |         |             |9:5)  |                          |
+------------+---------+-------------+------+--------------------------+
|FI4000480454|2,206,370|0            |10.85%|0%                        |
+------------+---------+-------------+------+--------------------------+
|SUBTOTAL    |2,206,370              |10.85%                           |
+------------+---------+-------------+------+--------------------------+
After 19 April 2024, Stephen Industries Inc Oy holds 10.85% of the shares and votes.
 
Further enquiries
Johanna Salko, CFO, +358 40 754 8172
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Bioretec in brief
Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of biodegradable orthopedic implants. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries. 
Bioretec is developing the new RemeOs™ product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong biodegradable materials for enhanced surgical outcomes. The RemeOs™ implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The combination has the potential to make titanium implants redundant and help clinics reach their Value-Based Healthcare targets while focusing on value for patients through efficient healthcare. The first RemeOs™ product market authorization has been received in the U.S. in March 2023, and in Europe, CE mark is expected to be received during the second quarter of 2024. Bioretec is positioning itself to enter the addressable over USD 7 billion global orthopedic trauma market and to become a game changer in surgical bone fracture treatment.
Better healing - Better life. www.bioretec.com