On July 15, 2021 Sanofi (Euronext: SAN and NYSE: SNY) and Kiadis reported that the conversion of Kiadis from a public limited liability company (naamloze vennootschap) into a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) shall be postponed until the Offeror has completed the statutory buy-out proceedings (Press release, Sanofi, JUL 15, 2021, View Source [SID1234584881]).

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In Section 6.13 of the Offer Memorandum the Offeror stated that it has the intention to amend the articles of association of Kiadis following termination of the listing of the Kiadis shares on Euronext Amsterdam and Euronext Brussel (which took place on 25 May 2021). On 30 March 2021, the general meeting of Kiadis adopted a shareholders’ resolution to amend the articles of association as soon as possible following delisting. Upon reflection, the Offeror and Kiadis have decided to postpone the conversion of Kiadis into a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) until the buy-out proceedings have been completed.

Announcements
Any announcement contemplated by the Offer Memorandum will be issued by press release. Any press release issued by the Offeror will be made available on the website of the Offeror (www.sanofi.com). Any press release issued by Kiadis will be made available on the website (www.kiadis.com).

Subject to any applicable requirements of the applicable rules and without limiting the manner in which the Offeror may choose to make any public announcement, the Offeror will have no obligation to communicate any public announcement other than as described above.

Offer Memorandum, Position Statement and further information
This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the position statement by Kiadis dated 12 February 2021 (the "Position Statement"). The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement.