Ascendis concluded a recapitalisation agreement in October, enabling it to repay its R7.7 billion debt. As part of the deal, the group which also owns the Junglevites and Vitaforce brands, transferred its Cyprus-based pharmaceutical company Remedica and its Romania based Sun Wave Pharma businesses to its lenders.
Mark Sardi hit the ground running after joining the company in 2019, working on Ascendis’ restructure, following a tough period that saw the group’s share price decline by more than 95% and a staggering R7.7 billion mountain of debt.
In the next seven to ten days, Ascendis CEO Mark Sardi will meet with shareholders to discuss whether the company should be delisted and privatised or if what is left of it should be sold off.
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