MDxHealth SA 6-K, filed Apr 30, 2026
MDxHealth SA (MDXH)
About this 6-K
MDxHealth SA filed this 6-K on April 30, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2026
Commission File Number 001-40996
MDXHEALTH SA
(Translation of registrant’s name into English)
CAP Business Center
Zone Industrielle des Hauts-Sarts
4040 Herstal, Belgium
+32 4 257 70 21
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
MDXHEALTH SA
MDxHealth SA (the “Company”) hereby furnishes the attached documents in connection with its Ordinary and Extraordinary General Shareholders’ Meetings to be held on Thursday, May 28, 2026 at 3:00 p.m., Belgian time, at the offices of the notary public Stijn Raes, at Kortrijksesteenweg 1147, 9051 Ghent, Belgium, or at such other place as will be indicated at that place at that time.
The information in the attached Exhibits 99.1-99.6 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall they be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise set forth herein or as shall be expressly set forth by specific reference in such a filing.
| Exhibit No. | Description of Exhibit | |
| 99.1 | Convening Notice | |
| 99.2 | Attendance Form | |
| 99.3 | Proxy Form | |
| 99.4 | 2026 Share Option Plan | |
| 99.5 | 2026 Exact Sciences Warrant Terms and Conditions | |
| 99.6 | Board Report on the Renewal of the Authorized Capital |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MDXHEALTH SA | |||
| Date: April 29, 2026 | By: | /s/ Michael McGarrity | |
| Name: | Michael McGarrity | ||
| Title: | Chief Executive Officer | ||
2
Exhibit 99.1
Unofficial English translation – For informational purposes only
MDxHealth SA
Limited
Liability Company
(société anonyme)
CAP
Business Center
Zone Industrielle des Hauts-Sarts
Rue
d’Abhooz 31
4040 Herstal, Belgium
VAT BE 0479.292.440 (RLP Liège, division Liège)
INVITATION
ORDINARY and extraordinary GENERAL MEETINGS
to be held on Thursday, May 28, 2026, at 3:00 p.m.
The holders of securities issued by MDxHealth SA (the “Company”) are invited to the ordinary general shareholders’ meeting of the Company. After the agenda of the ordinary general shareholders’ meeting has been treated, the meeting will be shortly suspended in order to be continued as an extraordinary general shareholders’ meeting before a notary public.
GENERAL INFORMATION
Date, hour and venue: The ordinary and extraordinary general shareholders’ meetings will be held on Thursday, May 28, 2026, at 3:00 p.m. at the offices of the notary public Stijn Raes, at Kortrijksesteenweg 1147, 9051 Ghent, Belgium, or at such other place as will be indicated at that place at that time. There is no attendance quorum requirement for the ordinary general shareholders’ meeting. There is, however, an attendance quorum requirement for the items on the agenda of the extraordinary general shareholders’ meeting (see also below under “—Extraordinary general meeting”). If the attendance quorum for the items on the agenda of the extraordinary general shareholders’ meeting were not to be reached, a second extraordinary general shareholders’ meeting will be held for these items on Thursday, June 25, 2026, unless, as the case may be, decided otherwise on behalf of the board of directors.
Opening of the doors: In order to facilitate the keeping of the attendance list on the day of the ordinary and extraordinary general shareholders’ meetings, holders of securities and their representatives are invited to register as of 2:15 p.m.
ORDINARY GENERAL MEETING
Agenda and proposed resolutions: The agenda and proposed resolutions of the ordinary general shareholders’ meeting of the Company which, as the case may be, can be amended at the meeting on behalf of the board of directors, are as follows:
| 1. | Report on the annual statutory financial statements and on the consolidated financial statements |
Submission of, and discussion on, (a) the combined annual report of the board of directors on the consolidated and (non-consolidated) statutory financial statements of the Company for the financial year ended on December 31, 2025, (b) the report of the statutory auditor on the (non-consolidated) statutory financial statements of the Company for the financial year ended on December 31, 2025, and (c) the report of the statutory auditor on the consolidated financial statements of the Company for the financial year ended on December 31, 2025.
| 2. | Approval of the annual (non-consolidated) statutory financial statements |
Submission of, discussion on, and approval of the annual (non-consolidated) statutory financial statements for the financial year ended on December 31, 2025, and approval of the allocation of the result as proposed by the board of directors.
Proposed resolution: The general shareholders’ meeting resolves to approve the annual (non-consolidated) statutory financial statements of the Company for the financial year ended on December 31, 2025 and to approve the allocation of the annual result as proposed by the board of directors.
1
| 3. | Consolidated financial statements |
Submission of, and discussion on, the consolidated financial statements of the Company for the financial year ended on December 31, 2025.
| 4. | Discharge from liability of the directors |
Discharge from liability of the directors for the exercise of their mandates during the financial year ended on December 31, 2025.
Proposed resolution: The general shareholders’ meeting resolves to grant discharge from liability to each of the directors who was in office during the financial year ended on December 31, 2025, for the performance of its, his or her mandate during that financial year.
| 5. | Discharge from liability of the statutory auditor |
Discharge from liability of the statutory auditor for the exercise of its mandate during the financial year ended on December 31, 2025.
Proposed resolution: The general shareholders’ meeting resolves to grant discharge from liability to the statutory auditor which was in office during the financial year ended on December 31, 2025, for the performance of its mandate during that financial year.
| 6. | Re-appointment of directors |
The board of directors recommends that (a) Michael K. McGarrity, be re-appointed as director of the Company for a term of three years, (b) Ahok BV, represented by Koen Hoffman as permanent representative, be re- appointed as director of the Company for a term of two years, and (c) Dr. Sanford Jay Siegel be re-appointed as director of the Company for a term of two years.
Proposed resolutions:
| (a) | The general shareholders’ meeting resolves to re-appoint Michael K. McGarrity, as director of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
| (b) | The general shareholders’ meeting resolves to re-appoint Ahok BV, represented by Koen Hoffman as permanent representative, as director of the Company for a term of two years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2028 which will have decided upon the financial statements for the financial year ended on December 31, 2027. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
| (c) | The general shareholders’ meeting resolves to re-appoint Dr. Sanford Jay Siegel as director of the Company for a term of two years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2028 which will have decided upon the financial statements for the financial year ended on December 31, 2027. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
Note: If the proposed resolutions set out in point 6 are approved by the general shareholders’ meeting, the Company’s board of directors will be composed of (1) Michael K. McGarrity, chief executive officer (CEO), executive director and managing director (until 2029), (2) Ahok BV, represented by Koen Hoffman, director and chair of the board of directors (until 2028), (3) Dr. Sanford Jay Siegel, director (until 2028), (4) Donnie M. Hardison Jr., director (until 2027), (5) Hilde Windels BV, represented by Hilde Windels, director (until 2027), (6) Eric Bednarski, director (until 2027), and (7) Michael Brian Holder, director (until 2027).
2
| 7. | Re-appointment of the statutory auditor |
Taking into account the recommendation and preference of the audit committee, the board of directors recommends that BDO Réviseurs d’Entreprises SRL, represented by Evy Borry as permanent representative, be re-appointed as statutory auditor of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028.
Proposed resolution: Taking into account the recommendation of the board of directors upon recommendation and preference of the audit committee, the general shareholders’ meeting resolves to re-appoint BDO Réviseurs d’Entreprises SRL, represented by Evy Borry as permanent representative, as statutory auditor of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028. For the duration of its mandate, the annual remuneration of the statutory auditor of the Company shall be EUR 275,000 (excluding VAT, taxes and expenses, as applicable) for the audit of the consolidated accounts of the group and the audit of the (non-consolidated) statutory financial statements of the Company, but excluding the audit of the financial statements in accordance with PCAOB GAAP for the purpose of filing in the United States of America. These fees are subject to a yearly indexation based on the standard index (consumer price index).
No attendance quorum: There is no attendance quorum requirement for the deliberation and voting on the respective items referred to in the aforementioned agenda of the ordinary general shareholders’ meeting.
Voting and majority: Subject to applicable legal provisions, each share shall have one vote. In accordance with applicable law, the proposed resolutions referred to in the aforementioned agenda of the ordinary general shareholders’ meeting shall be passed if they are approved by a simple majority of the votes validly cast by the shareholders. Pursuant to article 7:135 of the Belgian Companies and Associations Code, the holders of subscription rights have the right to participate to the ordinary general shareholders’ meeting, but only with an advisory vote
extraordinary GENERAL MEETING
Agenda and proposed resolutions: The agenda and proposed resolutions of the extraordinary general shareholders’ meeting of the Company which, as the case may be, can be amended at the meeting on behalf of the board of directors, are as follows:
| 1. | Submission of reports – 2026 Exact Sciences Warrants |
Submission of and discussion on:
| (a) | the report of the board of directors of the Company, prepared in accordance with articles 7:180, 7:191 and 7:193 of the Belgian Companies and Associations Code, in relation to the proposal to issue, for the benefit of Genomic Health, Inc. (a subsidiary of Exact Sciences Corporation, referred to herein as “Exact Sciences”), 3,000,000 new subscription rights for shares of the Company (the “2026 Exact Sciences Warrants”), and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences; and |
| (b) | the report of the Company’s statutory auditor, prepared in accordance with articles 7:180, 7:191 and 7:193 of the Belgian Companies and Associations Code, in relation to the proposal to issue for the benefit of Exact Sciences 3,000,000 2026 Exact Sciences Warrants, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences. |
3
| 2. | Proposal to issue 3,000,000 2026 Exact Sciences Warrants |
Proposed resolution: The general shareholders’ meeting resolves to approve the issuance of 3,000,000 new subscription rights for shares of the Company, called the “2026 Exact Sciences Warrants”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences. To this end, the general shareholders’ meeting resolves as follows:
| (a) | Terms and conditions of the subscription rights: The terms and conditions of the 2026 Exact Sciences Warrants will be in accordance with the annex of the report of the board of directors referred to in item 1.(a) of the agenda (for the purposes of this resolution, the “2026 Exact Sciences Warrants Terms and Conditions”), a copy of which will remain attached to the minutes recording the present resolution. The main terms and conditions of the 2026 Exact Sciences Warrants can, for information purposes, be summarised as follows: |
| (i) | Right to subscribe for one ordinary share: Each 2026 Exact Sciences Warrant entitles the holder to subscribe for one (1) ordinary share of the Company to be issued by the Company. |
| (ii) | Exercise price: The exercise price of the 2026 Exact Sciences Warrants (i.e., the price to be paid in cash to subscribe for one new share in the Company when a 2026 Exact Sciences Warrant is exercised) will be USD 5.265. The exercise price is subject to potential customary downward adjustments in the case of certain dilutive actions of the Company. |
| (iii) | Term: The 2026 Exact Sciences Warrants will have a term starting as from their issuance and ending on (and including) January 8, 2031. |
| (iv) | Exercisability: The exercise of the 2026 Exact Sciences Warrants will be subject to the terms and conditions contained in the 2026 Exact Sciences Warrants Terms and Conditions. The 2026 Exact Sciences Warrants may be exercised as from their issuance and until the end of their term, provided that a number of 2026 Exact Sciences Warrants with an aggregate exercise price of at least USD 500,000 are exercised by the holder thereof. |
| (v) | Transferability: Except if the Company were to explicitly allow a transfer of the 2026 Exact Sciences Warrants, the 2026 Exact Sciences Warrants cannot be transferred by a holder. Furthermore, the 2026 Exact Sciences Warrants will not be admitted to listing or trading. |
| (b) | Underlying shares: Each 2026 Exact Sciences Warrant will entitle its holder to subscribe for one new share to be issued by the Company. The new shares to be issued upon exercise of the 2026 Exact Sciences Warrants shall have the same rights and benefits as, and rank pari passu in all respects including as to entitlement to dividends and other distributions, with the existing and outstanding shares of the Company at the moment of their issuance and will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of their issuance. |
| (c) | Dis-application of the statutory preferential subscription right for the benefit of Exact Sciences: The general shareholders’ meeting resolves, in accordance with articles 7:191 and 7:193 of the Belgian Companies and Associations Code, to dis-apply, in the interest of the Company, the statutory preferential subscription right of existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences, as explained in the report of the board of directors referred to in item 1.(a) of the agenda. |
4
| (d) | Conditional capital increase and issue of new shares: The general shareholders’ meeting resolves, subject to and in the case of the exercise of the 2026 Exact Sciences Warrants, to increase the share capital of the Company and to issue the appropriate number of new shares that may be issued upon exercise of the 2026 Exact Sciences Warrants. Subject to, and in accordance with, the respective provisions of the 2026 Exact Sciences Warrants Terms and Conditions, upon exercise of the 2026 Exact Sciences Warrants and the issuance of new shares, the aggregate amount of the exercise price of the 2026 Exact Sciences Warrants will be allocated to (as the case may be, following conversion into the Company’s share capital currency, on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank, as provided for in article 5.4 of the 2026 Exact Sciences Warrants Terms and Conditions) the share capital of the Company. To the extent that the amount of the exercise price of the 2026 Exact Sciences Warrants, per share to be issued upon exercise of the 2026 Exact Sciences Warrants, exceeds the fractional value of the existing shares of the Company immediately prior to the issue of the new shares concerned, a part of the exercise price, per share to be issued upon exercise of the 2026 Exact Sciences Warrants, equal to such fractional value shall be booked as share capital, whereby the balance shall be booked as issue premium. Following the capital increase and issuance of new shares, each new and existing share shall represent the same fraction of the share capital of the Company. |
| (e) | Issue premium: Any issue premium that will be booked in connection with the 2026 Exact Sciences Warrants (whether upon exercise of the 2026 Exact Sciences Warrants, or otherwise) shall be accounted for on a non-distributable account on the liabilities side of the Company’s balance sheet under its net equity, and the account on which the issue premium will be booked shall, like the share capital, serve as a guarantee for third parties and can only be reduced on the basis of a lawful resolution of the general shareholders’ meeting passed in the manner required for an amendments to the Company’s articles of association. |
| (f) | Powers of attorney: The board of directors is authorised to implement and execute the resolutions adopted by the general shareholders’ meeting in connection with the 2026 Exact Sciences Warrants, and to take all measures and carry out all formalities that will be required pursuant to the 2026 Exact Sciences Warrants Terms and Conditions, the Company’s articles of association and all applicable laws in order to issue or transfer the shares upon exercise of the 2026 Exact Sciences Warrants. In addition, each director of the Company and Joe Sollee, each such person acting individually and with the possibility of sub-delegation and power of subrogation, shall have the power, upon exercise of the 2026 Exact Sciences Warrants, (i) to proceed with the recording of (A) the capital increase and the issue of new shares resulting from such exercise, (B) the allocation as share capital and (if applicable) as issue premium, and (C) the amendment of the Company’s articles of association to reflect the new share capital and number of shares outstanding following the exercise of the 2026 Exact Sciences Warrants (ii) to sign and deliver, on behalf of the Company, the relevant Euroclear, Computershare, Nasdaq and/or bank documentation, the share register and all other necessary documents in connection with the issuance and delivery of the shares to the beneficiary and the admission to listing and trading of such shares, and (iii) to do whatever may be necessary or useful (including, but not limited to, the preparation and execution of all documents and forms) for the admission of the shares issued upon exercise of the 2026 Exact Sciences Warrants to trading on Nasdaq (or any other market on which the Company’s shares will then be traded). |
| 3. | Submission of reports - 2026 Share Option Plan |
Submission of and discussion on:
| (a) | the report of the board of directors of the Company, prepared in accordance with articles 7:180 and 7:191 of the Belgian Companies and Associations Code, in relation to the proposal to issue 3,000,000 new subscription rights for shares of the Company (the “2026 Share Options”), pursuant to a share option plan named “the 2026 Share Option Plan”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the members of the personnel of the Company and its subsidiaries from time to time, within the meaning of article 1:27 of the Belgian Companies and Associations Code (the “Selected Participants”); and |
5
| (b) | the report of the statutory auditor of the Company, prepared in accordance with articles 7:180 and 7:191 of the Belgian Companies and Associations Code, in relation to the proposal to issue 3,000,000 2026 Share Options, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants. |
| 4. | Proposal to issue 3,000,000 2026 Share Options |
Proposed resolution: The general shareholders’ meeting resolves to approve the issuance of 3,000,000 2026 Share Options, pursuant to a share option plan named the “2026 Share Option Plan”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants. In view thereof, the general shareholders’ meeting resolves as follows:
| (a) | Terms and conditions of the 2026 Share Options: The terms and conditions of the 2026 Share Options (including, but not limited to, the exercise price of the 2026 Share Options) shall be as set out in the annex to the report of the board of directors referred to in item 3.(a) of the agenda (for the purpose of this resolution, the “Plan”), a copy of which shall remain attached to the minutes recording the present resolution. The 2026 Share Options have a term of ten years as from their issue date. |
| (b) | Underlying shares: Each 2026 Share Option shall entitle the holder thereof to subscribe for one new share to be issued by the Company. The new shares to be issued at the occasion of the exercise of the 2026 Share Options shall have the same rights and benefits as, and rank pari passu in all respects, including as to entitlements to dividends and other distributions, with the existing and outstanding shares of the Company at the moment of their issuance, and will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of issue of the new shares. |
| (c) | Dis-application of the statutory preferential subscription right for the benefit of the Selected Participants: The general shareholders’ meeting resolves, in accordance with article 7:191 of the Belgian Companies and Associations Code, to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants, and to approve the possibility for the Company to grant the 2026 Share Options to the Selected Participants, as further explained in the report of the board of directors referred to in item 3.(a) of the agenda and the terms and conditions of the Plan. |
| (d) | Confirmation of the subscription of 2026 Share Options by the Company: The general shareholders’ meeting resolves to approve and confirm that the Company will be able to subscribe for the 2026 Share Options, with a view to creating a pool of outstanding 2026 Share Options available for further grants to Selected Participants. The Company may not, however, exercise the 2026 Share Options for its own account. |
| (e) | Conditional capital increase and issue of new shares: The general shareholders’ meeting resolves, subject to, and to the extent of the exercise of the 2026 Share Options, to increase the Company’s share capital and to issue the relevant number of new shares issuable upon the exercise of the 2026 Share Options. Subject to, and in accordance with, the provisions of the Plan, upon exercise of the 2026 Share Options and issue of new shares, the aggregate amount of the exercise price of the 2026 Share Options will be allocated to (as the case may be, following conversion into the Company’s share capital currency, on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank, as provided for in article 5.2 of the Plan) the share capital of the Company. To the extent that the amount of the exercise price of the 2026 Share Options, per share to be issued upon exercise of the 2026 Share Options, exceeds the fractional value of the then existing shares of the Company existing immediately prior to the issue of the new shares concerned, a part of the exercise price, per share to be issued upon exercise of the 2026 Share Options, equal to such fractional value shall be booked as share capital, whereby the balance shall be booked as issue premium. Following the capital increase and issuance of new shares, each new and existing share shall represent the same fraction of the share capital of the Company. |
6
| (f) | Issue premium: Any issue premium that will be booked in connection with the 2026 Share Options shall be accounted for on a non-distributable account on the liabilities side of the Company’s balance sheet under its net equity, and the account on which the issue premium will be booked shall, like the share capital, serve as a guarantee for third parties and can only be reduced on the basis of a lawful resolution of the general shareholders’ meeting passed in the manner required for an amendments to the Company’s articles of association. |
| (g) | Powers of attorney: The board of directors is authorised to implement and execute the resolutions passed by the general shareholders’ meeting in connection with the 2026 Share Options, and to take all steps and carry out all formalities that shall be required by virtue of the Plan, the Company’s articles of association and applicable law in order to issue or transfer the shares upon exercise of the 2026 Share Options. Furthermore, each of the Company’s directors and Joe Sollee, each such person acting individually and with possibility of sub-delegation and the power of subrogation, shall have the power, upon exercise of the 2026 Share Options, (i) to proceed with the recording of (A) the capital increase and issue of new shares resulting from such exercise, (B) the allocation as share capital and (as applicable) as issue premium, and (C) the amendment of the Company’s articles of association to reflect the new share capital and number of outstanding shares following the exercise of the 2026 Share Options, (ii) to sign and deliver, on behalf of the Company, the relevant Euroclear, Computershare, Nasdaq, bank and/or other documentation, the share register and all other necessary documents in connection with the issuance and delivery of the shares to the Selected Participants concerned and the admission to listing and trading of such shares, and (iii) to do whatever may be necessary or useful (including but not limited to the preparation and execution of all documents and forms) for the admission of the shares issued upon the exercise of the 2026 Share Options to trading on Nasdaq (or such other markets on which the Company’s shares will be trading at that time). |
| 5. | Submission of the special report of the board of directors in accordance with article 7:199 of the Belgian Companies and Associations Code relating to the proposal to renew the authorized capital |
Consideration, discussion and submission of the special report of the board of directors in accordance with article 7:199 of the Belgian Companies and Associations Code relating to the proposal to renew the powers granted to the board of directors under the authorized capital, as set out below in item 6 of the agenda, and setting out the specific circumstances in which the board of directors will be able to use its powers under the authorized capital, and the purposes that it should pursue.
| 6. | Renewal of the authorization to the board of directors to increase the share capital within the framework of the authorized capital |
In order to allow the board of directors the flexibility to raise additional equity-based financing as and when the need may arise or an opportunity would present itself, the board of directors proposes that it be granted limited powers under the authorized capital to increase the Company’s share capital by a maximum amount of 100% during a term of five (5) years, all as further set out below. For further information on the circumstances in which the board of directors could make use of the authorized capital and the objectives that the board of directors would pursue with the authorized capital, see also the special report referred to in item 5 of the agenda.
7
Proposed resolution: The general shareholders’ meeting resolves to renew the authorization to the board of directors to increase the share capital in one or several times, during a period of five (5) years as from the publication in the Annexes to the Belgian Official Gazette of this authorization, with an aggregate amount equal to up to 100% of the amount of the share capital of the Company, and this in accordance with the terms and conditions set forth in the special report of the board of directors prepared in accordance with article 7:199 of the Belgian Companies and Associations Code, as referred to in agenda item 5 of this extraordinary general shareholders’ meeting. Consequently, the general shareholders’ meeting resolves to delete article 6 “Authorized capital” of the articles of association of the Company entirely and to replace it with the following text (whereby the date referred to in the sub-section between square brackets shall be the date of the general shareholders’ meeting approving the renewed authorized capital, and the amount referred to in the sub-section between brackets shall be the amount of the Company’s share capital at the time of the general shareholders’ meeting approving the authorized capital):
“Article 6: Authorized capital
The board of directors is authorized to increase the share capital of the company on one or several occasions by a maximum aggregate amount of [100% of the company’s share capital at the time of the adoption of the new authorized capital].
The board of directors may increase the share capital by contributions in cash or in kind, by capitalization of reserves, whether available or unavailable for distribution, and capitalization of issue premiums, with or without the issuance of new shares, for no consideration or for consideration with an issue price below, at, or above the fractional value of the then existing shares, with or without voting rights, that will have the rights as will be determined by the board of directors. Subject to applicable law, the board of directors is also authorized to use this authorization for the issuance of convertible bonds or subscription rights, bonds with subscription rights or other securities.
This authorization is valid for a period of five years as from the date of publication in the Annexes to the Belgian Official Gazette of an extract of the minutes of the extraordinary general shareholders’ meeting of the company held on [date of the general shareholders’ meeting approving the authorized capital].
In the event of a capital increase decided by the board of directors within the framework of the authorized capital, all issue premiums booked, if any, will be accounted for in accordance with the provisions of these articles of association.
The board of directors is authorized, when exercising its powers within the framework of the authorized capital, to restrict or cancel, in the interest of the company, the preferential subscription rights of the shareholders. This restriction or cancellation of the preferential subscription rights can also be done in favor of members of the personnel of the company or of its subsidiaries, or in favor of one or more persons other than members of the personnel of the company or of its subsidiaries.
The board of directors is authorized, with the right of substitution, to amend the articles of association, after each capital increase that has occurred within the framework of the authorized capital, in order to bring them in conformity with the new situation of the share capital and the shares.”
Attendance quorum: According to the Belgian Companies and Associations Code, an attendance quorum of at least 50% of the outstanding shares must be present or represented at the extraordinary general shareholders’ meeting for the deliberation and voting on the items of the aforementioned agenda of the extraordinary general shareholders’ meeting. If such attendance quorum is not reached, a second extraordinary general shareholders’ meeting will be convened for these agenda items, unless, as the case may be, decided otherwise on behalf of the board of directors, and the attendance quorum requirement will not apply to such second meeting.
Voting and majority: Subject to applicable legal provisions, each share shall have one vote. In accordance with applicable law, the proposed resolutions referred to in the aforementioned agenda of the extraordinary general shareholders’ meeting shall be passed if they are approved by a majority of 75% of the votes validly cast by the shareholders. Pursuant to article 7:135 of the Belgian Companies and Associations Code, the holders of subscription rights have the right to participate to the extraordinary general shareholders’ meeting, but only with an advisory vote.
8
Participation to the meetings
Introduction: Holders of securities issued by the Company who wish to participate to the ordinary and extraordinary general shareholders’ meetings of the Company should take into account the formalities and procedures described below.
Since the completion, on December 18, 2023, of the Company’s transition from a dual listing of the Company’s former American Depositary Shares on Nasdaq and shares on Euronext Brussels to a sole listing of its shares on Nasdaq, the Company’s shares are comprised of:
| (a) | shares that are reflected in the component of the Company’s share register that is held in Belgium and which is managed by Euroclear Belgium (the “Belgian Share Register” and, the shares reflected in the Belgian Share Register, the “European Shares”), and that cannot be traded on Nasdaq until they have been repositioned into U.S. Shares (as defined below); and |
| (b) | shares that are reflected directly or indirectly in the component of the Company’s share register that is held in the United States and which is managed by Computershare (the “U.S. Share Register” and, the shares reflected in the U.S. Share Register, the “U.S. Shares”), and that can be traded on Nasdaq. |
For further information and details regarding the transition to a single listing on Nasdaq and the repositioning process, please visit the dedicated web page on the Company’s website (see: https://mdxhealth.com/proposed-transition-to-a-single-listing-on-nasdaq/).
Registration date: In accordance with article 32 of the Company’s articles of association and article 7:134 of the Belgian Companies and Associations Code, the Company’s board of directors sets the registration date for the ordinary and extraordinary general shareholders’ meetings on Friday, May 22, 2026, at midnight (12:00 a.m., Belgian time) (the “Registration Date”). Only persons owning securities issued by the Company on Friday, May 22, 2026, at midnight (12:00 a.m., Belgian time) shall be entitled to participate to, and, as the case may be, vote at the ordinary and extraordinary general shareholders’ meetings. Only shareholders are entitled to vote. The holders of subscription rights can participate to the ordinary and extraordinary general shareholders’ meetings, but only with an advisory vote. Shareholders, as well as holders of subscription rights must satisfy the formalities that are described under “—Participation to the meetings”.
Participation to the meetings: In order to be able to participate to the ordinary and extraordinary general shareholders’ meetings, 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:
| (a) | Registration: Firstly, the right for a holder of securities issued by the Company to participate to and, as applicable, to vote at the ordinary and extraordinary general shareholders’ meetings is only granted on the basis of the registration of the securities concerned on the aforementioned Registration Date at midnight, as follows: |
| (i) | Holders of registered European Shares and registered subscription rights issued by the Company: The holders of registered European Shares and subscription rights in registered form issued by the Company may participate to the ordinary and extraordinary general shareholders’ meetings only for the registered European Shares and registered subscription rights that are reflected in their name in the Belgian Share Register and relevant register of subscription rights, respectively, on the Registration Date. |
| (ii) | Holders of dematerialised European Shares: The holders of dematerialised European Shares that want participate to the ordinary and extraordinary general shareholders’ meetings must request their certified account holder or the central securities depositary for the shares concerned to issue a certificate stating the number of dematerialised shares registered in the name of the shareholder in its books on the Registration Date, and to send it to the Company (by mail at its registered office (MDxHealth SA, CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium, Attention: Mr. Ron Kalfus) or by e-mail at agsm@mdxhealth.com) at the latest on the second business day prior to the ordinary and extraordinary general shareholders’ meetings, i.e., on or before Tuesday, May 26, 2026 at the latest (the “Notification Deadline”). The Company shall determine the ownership of the relevant shares at the Registration Date solely on the basis of such certificates. |
| (iii) | Holders of U.S. Shares, reflected directly in the U.S. Share Register (not through DTCC): The holders of U.S. Shares reflected directly in the U.S. Share Register (not through DTCC) may only be admitted to the ordinary and extraordinary general shareholders’ meetings if their ownership of U.S. Shares is reflected in the U.S. Share Register on the Registration Date. The Company’s U.S. transfer agent will no later than the Notification Deadline provide the Company directly or indirectly with a shareholder list at the Registration Date that contains all of the registered holders of the Company’s U.S. Shares recorded in the U.S. Share Register directly (not through DTCC) on the Registration Date. The Company shall determine the ownership of the relevant shares at the Registration Date solely on the basis of the aforementioned information. |
9
| (iv) | Holders of U.S. Shares reflected indirectly in the U.S. Share Register (through DTCC): The holders of U.S. Shares reflected indirectly in the U.S. Share Register, through CEDE & Co., the nominee holder of the U.S. Shares held for the beneficial owners through the DTCC system, may only be admitted to the ordinary and extraordinary general shareholders’ meetings if their ownership of U.S. Shares is included in the information provided to the Company no later than the Notification Deadline through the broker, financial institution or other intermediary of such shareholders. The Company shall determine the ownership of the relevant shares at the Registration Date solely on the basis of the aforementioned information. |
| (b) | Notification: Secondly, in accordance with article 32 of the Company’s articles of association and article 7:134 of the Belgian Companies and Associations Code, the Company’s board of directors sets the deadline for holders of securities issued by the Company to notify their participation to the ordinary and extraordinary general shareholders’ meetings on the Notification Deadline. Therefore, in order to participate to the ordinary and extraordinary general shareholders’ meetings, holders of securities issued by the Company must notify the Company whether they want to participate to the meetings, and must do so prior to or at the latest on Tuesday, May 26, 2026. The holders of securities who wish to make such notification can make use of the attendance form that can be obtained at the Company’s registered office and on the Company’s website (http://www.mdxhealth.com). The notice must reach the Company, by mail at its registered office (MDxHealth SA, CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium, Attention: Mr. Ron Kalfus) or by e-mail at agsm@mdxhealth.com, at the latest on the Notification Deadline. Depending on the type of securities it holds, a holder of securities issued by the Company must notify to the Company its participation to the general shareholders’ meetings as follows: |
| (i) | Holders of registered European Shares and registered subscription rights issued by the Company: Holders of registered European Shares and subscription rights in registered form issued by the Company that wish to make such notification must make sure that the attendance form is duly signed and completed and reaches the Company no later than the Notification Deadline (pursuant to the instructions set out above). |
| (ii) | Holders of dematerialised European Shares: Holders of dematerialised European Shares that wish to make such notification must make sure that the attendance form is duly signed and completed and reaches the Company no later than the Notification Deadline (pursuant to the instructions set out above). Furthermore, the notification must include a certificate confirming the number of European Shares that have been registered in their name on the Registration Date. The certificate can be obtained by the holders of the dematerialised European Shares with the certified account holder or the central securities depositary for the European Shares concerned (see also under (ii) in paragraph (a) above). |
| (iii) | Holders of U.S. Shares, reflected directly in the U.S. Share Register (not through DTCC): Holders of U.S. Shares reflected directly in the U.S. Share Register (not through DTCC) that wish to make such notification must make sure that the attendance form included as part of their notice is duly completed and reaches the Company no later than the Notification Deadline (pursuant to the instructions set out above). |
| (iv) | Holders of U.S. Shares reflected indirectly in the U.S. Share Register (through DTCC): Holders of U.S. Shares reflected indirectly in the U.S. Share Register, through CEDE & Co., the nominee holder of the U.S. Shares held for the beneficial owners through the DTCC system, that wish to make such notification must make sure that the attendance form is duly completed and reaches the Company no later than the Notification Deadline (pursuant to the instructions set out above). Furthermore, the notification must include a certificate from a broker, financial institution or other intermediary indicating that such holder was the owner of such U.S. Shares on the Registration Date. |
10
The Company encourages shareholders to participate to the ordinary and extraordinary general shareholders’ meetings through a signed proxy or the U.S. proxy card (as further explained below under “—Representation by proxy”) that will be provided or is made available to them and in accordance with the accompanying instructions. If a shareholder attends to the general shareholders’ meetings in person, it may revoke its signed proxy or U.S. proxy card until the Notification Deadline. Providing to the Company a signed proxy or U.S. proxy card to the Company shall also qualify as a notification, provided that the signed proxy or U.S. proxy card reaches the Company (by mail at its registered office (MDxHealth SA, CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium, Attention: Mr. Ron Kalfus) or by e-mail at agsm@mdxhealth.com) no later than the Notification Deadline. For the shareholders referred to in (ii) and (iv) above, the signed proxy or U.S. proxy card must also include the certificates referred to in (ii) and (iv) above respectively.
Representation by proxy: The holders of securities can participate to the meetings and vote, as applicable, through a written proxy. Written proxies must contain specific voting instructions for each proposed resolution. Proxy forms can be obtained on the Company’s website (http://www.mdxhealth.com). The proxy form must be signed in writing or electronically. Holders of U.S Shares who want to appoint a proxy are strongly encouraged to use the U.S. proxy card that will be provided to them and according to the accompanying instructions. Signed proxies and U.S. proxy cards must reach the Company by mail at its registered office (MDxHealth SA, CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium, Attention: Mr. Ron Kalfus) or by e-mail at agsm@mdxhealth.com, at the latest on the Notification Deadline, i.e., on or before Tuesday, May 26, 2026 at the latest. Holders of securities who wish to be represented by proxy must, in any case comply with the formalities to participate to the meetings, as explained under “—Participation to the meetings”. For the shareholders referred to in (ii) and (iv) of paragraph (b) of “—Participation to the meetings”, the signed proxy or U.S. proxy card must also include the certificates referred to in (ii) and (iv), respectively, of paragraph (b) of “—Participation to the meetings”.
Access to the meeting room: The natural persons who attend to the ordinary and extraordinary general shareholders’ meetings in their capacity as owner of securities, holder of proxies or representative of a legal entity must be able to provide evidence of their identity in order to be granted access to the meeting room (subject to what is shared above under “—General information”). In addition, the representatives of legal entities must hand over the documents establishing their capacity as corporate representative or attorney-in-fact. These documents will be verified immediately before the start of the meetings.
Recommendation to use e-mail: The Company recommends the holders of its securities to use e-mail for all communication with the Company regarding the general shareholders’ meetings. The Company’s e-mail address for such communication is: agsm@mdxhealth.com. The Company also points at that, in addition to be physically available at the Company’s registered office and distributed by mail, all forms and other documentation in relation to the general shareholders’ meetings will be available on the Company’s website (http://www.mdxhealth.com). See also “—Available documentation”.
Data Protection
The Company is responsible for the processing of personal data it receives from, or collects about, holders of securities issued by the Company and proxy holders in the context of general shareholders’ meetings. The processing of such data will be carried out for the purposes of the organisation and conduct of the relevant general shareholders’ meeting, including the convening notices, registrations, participation and voting, as well as for maintaining lists or registers of security holders, and the analysis of the investor and security holder base of the Company. The data include, amongst others, identification data, the number and nature of securities of a holder of securities issued by the Company, proxies and voting instructions. This data may also be transferred to third parties for the purposes of assistance or services to 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 Policy, available on the Company’s website (https://mdxhealth.com/privacy-policy). The Company draws the attention of the holders of securities issued by the Company and proxy holders to the description of the rights they may have as data subjects, such as, among others, the right to access, the right to rectify and the right to object to processing, which are outlined in the aforementioned Privacy Policy. All this does not affect the rules that apply in connection with the registration and participation to the general shareholders’ meeting. To exercise rights as a data subject and for all other information regarding the processing of personal data by or on behalf of the Company, the Company can be contacted by e-mail at dataprotection@mdxhealth.com.
11
available documentation
The following documentation is available on the Company’s website (http://www.mdxhealth.com): the notice convening the ordinary and extraordinary general shareholders’ meetings, the documents to be submitted to the ordinary and extraordinary general shareholders’ meetings as referred to in the agenda of the meetings, the attendance form, and the proxy form. Prior to the ordinary and extraordinary general shareholders’ meetings, holders of securities of the Company can also obtain at the registered office of the Company (CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium), free of cost, a copy of this documentation.
Please address any correspondence on this matter to MDxHealth SA, Mr. Ron Kalfus CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium. The e-mail address is agsm@mdxhealth.com.
On behalf of the board of directors
This document is not an offer to sell or a solicitation of an offer to buy shares or other securities of mdxhealth sa.
12
Exhibit 99.2
MDxHealth SA
Limited Liability Company
(société anonyme)
CAP Business Center
Zone Industrielle des Hauts-Sarts
Rue d’Abhooz 31
4040 Herstal, Belgium
VAT BE 0479.292.440 (RLP Liège, division Liège)
| ATTENDANCE FORM FOR SECURITY HOLDERS ordinary and Extraordinary General Meetings to be held on Thursday, May 28, 2026, at 3:00 p.m. (Belgian time) |
|
This attendance form should be used by holders of securities of MDxHealth SA (the “Company”) who want to attend the ordinary and extraordinary general shareholders’ meetings in person. More information regarding the requirements for, and the modalities of, participation in the meetings can be found in the convening notice of the ordinary and extraordinary general shareholders’ meetings.
The signed and completed form must reach the Company at the latest on the second business day prior to the ordinary and extraordinary general shareholders’ meetings, i.e., on or before Tuesday, May 26, 2026 at the latest, by mail to:
MDxHealth SA CAP Business Center Zone Industrielle des Hauts-Sarts or by e-mail to: agsm@mdxhealth.com
The use of e-mail is strongly encouraged.
The Company’s shares are comprised of: (a) shares that are reflected in the component of the Company’s share register that is held in Belgium and which is managed by Euroclear Belgium (the “Belgian Share Register” and, the shares reflected in the Belgian Share Register, the “European Shares”), and that cannot be traded on Nasdaq until they have been repositioned into U.S. Shares (as defined below), and (b) shares that are reflected directly or indirectly in the component of the Company’s share register that is held in the United States and which is managed by Computershare (the “U.S. Share Register” and, the shares reflected in the U.S. Share Register, the “U.S. Shares”), and that can be traded on Nasdaq.
Holders of dematerialised European Shares must attach to the present form a certificate issued by the certified account holder or the central securities depositary for the shares concerned, confirming the number of dematerialised European Shares that have been registered in their name on the registration date (i.e., Friday, May 22, 2026, at midnight (12:00 a.m., Belgian time)) (the “Registration Date”), with which they want to participate to the ordinary and extraordinary general shareholders’ meetings.
Holders of U.S. Shares reflected indirectly in the U.S. Share Register, through CEDE & Co., the nominee holder of the U.S. Shares held for the beneficial owners through the DTCC system, must attach to the present form a certificate from a broker, financial institution or other intermediary confirming their ownership of U.S. Shares on the Registration Date, with which they want to participate to the ordinary and extraordinary general shareholders’ meetings. |
Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Attendance form for security holders
The undersigned,
|
First Name: |
………………………………………………………………… |
| Family Name: | ………………………………………………………………… |
| Address: | ………………………………………………………………… |
| or | |
| Corporate name: | ………………………………………………………………… |
| Corporate form: | ………………………………………………………………… |
| Registered office: |
………………………………………………………………… ………………………………………………………………… |
| Represented by (first name, family name and capacity): |
………………………………………………………………… ………………………………………………………………… ………………………………………………………………… ………………………………………………………………… |
owner of the following number of securities issued by MDxHealth SA, with registered office at CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium:
|
…………………………………….(1) registered European Shares …………………………….………(1) dematerialised European Shares ……………………………………..(1)
U.S. Shares reflected directly in the U.S. ……………………………………..(1)
U.S. Shares reflected indirectly in the U.S. …………………………….…….…(1) subscription rights (2)
| ||
| Notes: | ||
| (1) | Number of relevant securities to be completed, when applicable. | |
| (2) | Pursuant to article 7:135 of the Belgian Companies and Associations Code, the holders of subscription rights have the right to attend the shareholders’ meetings, but only with an advisory vote. | |
Hereby notifies his/her/its intent to attend the ordinary and extraordinary general shareholders’ meetings of MDxhealth SA to be held on Thursday, May 28, 2026, at 3:00 p.m. (Belgian time) at the offices of the notary public Stijn Raes, at Kortrijksesteenweg 1147, 9051 Ghent, Belgium, or at such other place indicated at that place at that time.
The undersigned agrees that the English translation of the present attendance form is a free translation and for information purposes only, and that the French version shall prevail over the English translation.
The undersigned hereby confirms that the Company can send all confirmations and information required for participation in the ordinary and extraordinary general shareholders’ meetings to the following e-mail address of the undersigned:
|
…………………………………………………………………. (E-mail address of security holder) |
Done at ……………………………………., on ………………………………2026
Signature……………………………
Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Attendance form for security holders
Exhibit 99.3
AssemblÉes
gÉnÉrales ordinaire et 28 maI 2026 |
ordinary and extraordinary
general shareholders’ meetings May 28, 2026 |
| Procuration | Proxy |
Cette procuration doit être utilisée par les titulaires de titres de MDxHealth SA (la “Société”) qui désirent être représentés par un mandataire spécial aux assemblées générales ordinaire et extraordinaire des actionnaires de la Société à tenir le jeudi 28 mai 2026 à 15h00 (heure belge). Nonobstant ce qui précède, les titulaires d’Actions Américaines (telles que définies ci-dessous) qui souhaitent désigner un mandataire sont vivement encouragés à utiliser la carte de procuration américaine (U.S. proxy card) qui leur a été fournie et à suivre les instructions qui l’accompagnent. |
This proxy should be used by holders of securities of MDxHealth SA (the “Company”) who want to be represented by a proxy holder at the ordinary and extraordinary general shareholders’ meetings of the Company to be held on Thursday, May 28, 2026, at 3:00 p.m. (Belgian time). Notwithstanding the above, holders of U.S. Shares (as defined below) who want to appoint a proxy are strongly encouraged to use the U.S. proxy card provided to them and according to the accompanying instructions. |
Les actions de la Société se composent : (a) d’actions inscrites dans la composante du registre des actions de la Société qui est tenue en Belgique et qui est maintenue par Euroclear Belgium (le “Registre Belge des Actions” et, les actions reflétées dans le Registre Belge des Actions, les “Actions Européennes”), et qui ne peuvent pas être négociées sur le Nasdaq tant qu’elles n’ont pas été repositionnées en Actions Américaines (telles que définies ci-dessous), et (b) d’actions inscrites directement ou indirectement dans la composante du registre des actions de la Société tenue aux États-Unis et qui est maintenue par Computershare (le “Registre Américain des Actions” et, les actions figurant dans le Registre Américain des Actions, les “Actions Américaines”), et qui peuvent être négociées sur le Nasdaq. |
The Company’s shares are comprised of: (a) shares that are reflected in the component of the Company’s share register that is held in Belgium and which is managed by Euroclear Belgium (the “Belgian Share Register” and, the shares reflected in the Belgian Share Register, the “European Shares”), and that cannot be traded on Nasdaq until they have been repositioned into U.S. Shares (as defined below), and (b) shares that are reflected directly or indirectly in the component of the Company’s share register that is held in the United States and which is managed by Computershare (the “U.S. Share Register” and, the shares reflected in the U.S. Share Register, the “U.S. Shares”), and that can be traded on Nasdaq. |
Cette procuration ne constitue pas une sollicitation publique de procuration au sens des article 7:145 du Code des sociétés et des associations. |
This proxy does not constitute a proxy solicitation in the sense of article 7:145 of the Belgian Companies and Associations Code. |
La procuration doit être signée de façon écrite ou électroniquement. |
The proxy must be signed in writing or electronically. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 1/18 |
La procuration signée et complétée doit parvenir à la Société au plus tard le deuxième jour ouvrable qui précède les assemblées générales ordinaire et extraordinaire des actionnaires, soit le, ou avant le, mardi 26 mai 2026 (la “Date limite de Notification”) au plus tard. Jusqu’à cette date, les procurations peuvent être envoyées à l’adresse suivante : |
The signed and completed proxy must reach the Company at the latest on the second business day prior to the ordinary and extraordinary general shareholders’ meetings, i.e. on or before Tuesday, May 26, 2026 (the “Notification Deadline”) at the latest. Until the Notification Deadline, proxies can be sent to the following address: |
|
MDxHealth SA Zone Industrielle des Hauts-Sarts Rue d’Abhooz 31, Belgique |
MDxHealth SA CAP Business Center Zone Industrielle des Hauts-Sarts |
ou par courrier électronique à : |
or by e-mail to: |
agsm@mdxhealth.com |
agsm@mdxhealth.com |
Les titulaires de titres de la Société qui désirent être représentés par procuration doivent aussi s’enregistrer aux assemblées générales ordinaire et extraordinaire des actionnaires, tel que décrit dans l’invitation aux assemblées générales ordinaire et extraordinaire des actionnaires. Les titulaires d’Actions Européennes dématérialisés doivent joindre à ce formulaire un certificat délivré par le teneur de compte agréé ou le dépositaire central de titres pour les actions concernées, confirmant le nombre d’Actions Européennes dématérialisées ayant été enregistrés à leur nom à la date d’enregistrement (soit le vendredi 22 mai 2026, à minuit (00h00, heure belge)) (la “Date d’Enregistrement”) et avec lesquelles ils veulent participer aux assemblées générales ordinaire et extraordinaire des actionnaires. Les titulaires d’Actions Américaines inscrites indirectement dans le Registre Américain des Actions, par l’intermédiaire de CEDE & Co, le détenteur désigné des Actions Américaines détenues pour les bénéficiaires effectifs via le système DTCC, doivent joindre au présent formulaire un certificat d’un courtier, d’une institution financière ou d’un autre intermédiaire confirmant leur propriété des Actions Américaines à la Date d’Enregistrement, avec lesquelles ils souhaitent participer aux assemblées générales ordinaires et extraordinaires des actionnaires. |
Holders of securities of the Company who wish to be represented by proxy must also register for the ordinary and extraordinary general shareholders’ meetings, as described in the notice convening the ordinary and extraordinary general shareholders’ meetings. Holders of dematerialised European Shares must attach to the present form a certificate issued by the certified account holder or the central securities depositary for the shares concerned, confirming the number of dematerialised European Shares that have been registered in their name on the registration date (i.e., Friday, 22 May 2026, at midnight (12:00 a.m., Belgian time)) (the “Registration Date”), with which they want to participate to the ordinary and extraordinary general shareholders’ meetings. Holders of U.S. Shares reflected indirectly in the U.S. Share Register, through CEDE & Co., the nominee holder of the U.S. Shares held for the beneficial owners through the DTCC system, must attach to the present form a certificate from a broker, financial institution or other intermediary confirming their ownership of U.S. Shares on the Registration Date, with which they want to participate to the ordinary and extraordinary general shareholders’ meetings. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 2/18 |
La Société recommande d’utiliser le courrier électronique pour toute communication avec la Société concernant les assemblées générales d’actionnaires. |
The Company recommends to use e-mail for all communication with the Company regarding the general shareholders’ meetings. |
| Le/La soussigné(e), | The undersigned, |
| Prénom / First name: | ||
| Nom de famille / Family name: | ||
| Adresse / Address: | ||
| ou / or | ||
| Dénomination / Corporate name: | ||
| Forme juridique / Corporate form: | ||
| Siège / Registered office: | ||
| Représenté par (prénom, nom de famille et | ||
qualité) / Represented by (first name, family name and capacity): |
titulaire du (des) nombre(s) suivant(s) de titres émis par MDxHealth SA, ayant son siège au CAP Business Center, Zone Industrielle des Hauts-Sarts, Rue d’Abhooz 31, 4040 Herstal, Belgique, |
owner of the following number of securities issued by MDxHealth SA, with its registered office at CAP Business Center, Zone Industrielle des Hauts-Sarts, rue d’Abhooz 31, 4040 Herstal, Belgium, |
| Nombre d’Actions Européennes nominatives / Number of registered European Shares: | |||
| Nombre d’Actions Européennes dématérialisées / Number of dematerialised European Shares: | |||
| Nombre d’Actions Américaines, inscrites directement dans le Registre Américain des Actions (pas par l’intermédiaire de DTCC) / Number of U.S. Shares reflected directly in the U.S. Share Register (not through DTCC): | |||
| Nombre d’Actions Américaines, inscrites indirectement dans le Registre Américain des Actions (par l’intermédiaire de DTCC) / Number of U.S. Shares reflected indirectly in the U.S. Share Register (through DTCC): | |||
| Nombre de droits de souscription / Number of subscription rights:1 |
constitue pour mandataire spécial, avec pouvoir de substitution: |
appoints as his/her/its proxy holder, with power of substitution: |
| ☐ M./Mme / Mr./Ms. | 2 | |
| ☐ Président du conseil d’administration / Chair of the board of directors3 | ||
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 3/18 |
| 1 Conformément à l’article 7:135 du Code des sociétés et des associations, les titulaires de droits de souscription ont le droit de participer à l’assemblée générale des actionnaires mais seulement avec voix consultative. | 1 Pursuant to article 7:135 of the Belgian Companies and Associations Code, the holders of subscription rights have the right to attend the shareholders’ meetings, but only with an advisory vote. |
| 2 Veuillez compléter tel qu’approprié. Une absence d’instruction sera interprétée comme une nomination du président du conseil d’administration en tant que mandataire. | 2 Please complete as appropriate. An absence of instruction shall be tantamount to an appointment of the chair of the board of directors as proxy holder. |
3 Le président du conseil d’administration de la Société a le pouvoir de nommer un autre administrateur, un employé ou remplaçant désigné de la Société comme suppléant en vertu d’une sous-délégation si le président est empêché d’assister aux assemblées générales des actionnaires. Le président ou son suppléant ne vote qu’en exécution de la procuration, conformément aux instructions de vote spécifiques figurant dans la procuration. Voir également la note 4 ci-dessous. |
3 The chair of the board of directors of the Company has the power to appoint another director, employee or substitute of the Company as a substitute pursuant to a sub delegation if the chair is hindered to attend the general shareholders’ meetings. The chair or his substitute may only vote in execution of the proxy, in accordance with the specific voting instructions included in the proxy. See also note 4 below. |
| lequel accepte ainsi d’être nommé, et à qui le/la soussigné(e) donne les pouvoirs et instructions de vote spécifiques suivants:4 | who agrees to be so appointed, and to whom the undersigned gives the following powers and specific voting instructions:4 |
4 Veuillez indiquer l’instruction de vote dans les cases appropriées pour les points à l’ordre du jour. En l’absence d’une instruction de vote pour un point de l’ordre du jour, ou dans le cas où, pour quelque raison que ce soit, il y aurait un manque de clarté concernant les instructions de vote, le mandataire sera présumé avoir voté “Pour” des résolutions proposées soutenues par le conseil d’administration et cela sera considéré comme une instruction de vote spécifique au sens de l’article 7:143 §4 2° du Code des sociétés et des associations. |
4 Please indicate the voting instructions in the appropriate boxes of the agenda items. In the absence of voting instructions for any agenda item or in the event that, for any reason whatsoever, any uncertainty would arise with regards to the voting instructions, the proxy holder will be presumed to have voted “Contre” of the proposed resolutions supported by the board of directors and that this will be deemed to be a specific voting instruction in the sense of article 7:143 §4 2° of the Belgian Companies and Associations Code. |
| I. De représenter le/la soussigné(e) aux assemblées générales ordinaire et extraordinaire des actionnaires à tenir le jeudi 28 mai 2026 à 15h00 (heure belge), dans les bureaux de Maître Stijn Raes, notaire, à Kortrijksesteenweg 1147, 9051 Gand, Belgique, ou à tout autre endroit qui sera indiqué à cette occasion. | I. To represent the undersigned at the ordinary and extraordinary general meetings of shareholders to be held on Thursday, 28 May 2026, at 3:00 p.m. (Belgian time), at the offices of the notary public Stijn Raes, at Kortrijksesteenweg 1147, 9051 Ghent, Belgium, or at such place as will be indicated at that place at that time. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 4/18 |
|
ORDRE DU JOUR assemblée générale ordinaire |
agenda Ordinary general meeting |
|
1. Rapport sur les comptes annuels statutaires et sur les comptes annuels consolidés Communication et discussion (a) du rapport annuel combiné du conseil d’administration sur les comptes annuels consolidés et statutaires (non consolidés) de la Société pour l’exercice social clôturé au 31 décembre 2025, (b) du rapport du commissaire sur les comptes annuels statutaires (non consolidés) de la Société pour l’exercice social clôturé au 31 décembre 2025, et (c) du rapport du commissaire sur les comptes annuels consolidés de la Société pour l’exercice social clôturé au 31 décembre 2025. |
1. Report on the annual statutory financial statements and on the consolidated financial statements Submission of, and discussion on, (a) the combined annual report of the board of directors on the consolidated and (non-consolidated) statutory financial statements of the Company for the financial year ended on December 31, 2025, (b) the report of the statutory auditor on the (non-consolidated) statutory financial statements of the Company for the financial year ended on December 31, 2025, and (c) the report of the statutory auditor on the consolidated financial statements of the Company for the financial year ended on December 31, 2025. |
|
2. Approbation des comptes annuels statutaires (non consolidés) Communication, discussion et approbation des comptes annuels statutaires (non consolidés) pour l’exercice social clôturé au 31 décembre 2025 et approbation de l’affectation du résultat tel que proposé par le conseil d’administration. |
2. Approval of the annual (non-consolidated) statutory financial statements Submission of, discussion on, and approval of the annual (non-consolidated) statutory financial statements for the financial year ended on December 31, 2025, and approval of the allocation of the result as proposed by the board of directors. |
|
► Proposition de résolution : L’assemblée générale des actionnaires décide d’approuver les comptes annuels statutaires (non consolidés) de la Société pour l’exercice social clôturé le 31 décembre 2025 et d’approuver l’affectation du résultat annuel tel que proposé par le conseil d’administration. |
► Proposed resolution: The general shareholders’ meeting resolves to approve the annual (non-consolidated) statutory financial statements of the Company for the financial year ended on 31 December 2025 and to approve the allocation of the annual result as proposed by the board of directors. |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
|
3. Comptes annuels consolidés Communication et discussion des comptes annuels consolidés de la Société pour l’exercice social clôturé le 31 décembre 2025. |
3. Consolidated financial statements Submission of, and discussion on, the consolidated financial statements of the Company for the financial year ended on December 31, 2025.
|
|
4. Décharge de responsabilité des administrateurs Décharge de responsabilité des administrateurs pour l’exercice de leur mandat au cours de l’exercice social clôturé le 31 décembre 2025. |
4. Discharge from liability of the directors Discharge from liability of the directors for the exercise of their mandates during the financial year ended on 31 December 2025.
|
| ► Proposition de résolution : | ► Proposed resolution: |
| L’assemblée générale des actionnaires décide d’accorder la décharge à chacun des administrateurs qui était en fonction au cours de l’exercice social clôturé le 31 décembre 2025 pour l’exercice de son mandat au cours de cet exercice social. | The general shareholders’ meeting resolves to grant discharge from liability to each of the directors who was in office during the financial year ended on 31 December 2025, for the performance of its, his or her mandate during that financial year. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 5/18 |
|
5. Décharge de responsabilité du commissaire Décharge de responsabilité du commissaire pour l’exercice de son mandat au cours de l’exercice social clôturé le 31 décembre 2025.
|
5. Discharge from liability of the statutory auditor Discharge from liability of the statutory auditor for the exercise of its mandate during the financial year ended on 31 December 2025.
|
| ► Proposition de résolution : | ►Proposed resolution: |
| L’assemblée générale des actionnaires décide d’accorder la décharge au commissaire qui était en fonction au cours de l’exercice social clôturé le 31 décembre 2025 pour l’exercice de son mandat au cours de cet exercice social. | The general shareholders’ meeting resolves to grant discharge from liability to the statutory auditor which was in office during the financial year ended on 31 December 2025, for the performance of its mandate during that financial year. |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
|
6. Renouvellement de mandats d’administrateurs Le conseil d’administration recommande que (a) Michael K. McGarrity, soit renouvelé en tant qu’administrateur de la Société pour un mandat de trois ans, (b) Ahok BV, représentée par Koen Hoffman en tant que représentant permanent, soit renouvelée en tant qu’administrateur de la Société pour une durée de deux ans, et (c) Dr. Sanford Jay Siegel soit renouvelé en tant qu’administrateur de la Société pour une durée de deux ans. |
6. Re-appointment of directors The board of directors recommends that (a) Michael K. McGarrity, be re-appointed as director of the Company for a term of three years, (b) Ahok BV, represented by Koen Hoffman as permanent representative, be re- appointed as director of the Company for a term of two years, and (c) Dr. Sanford Jay Siegel be re-appointed as director of the Company for a term of two years. |
| ► Propositions de résolutions : | ► Proposed resolutions: |
|
(a) L’assemblée générale des actionnaires décide de renouveler le mandat de Michael K. McGarrity en tant qu’administrateur de la Société, pour une durée de trois ans, s’étendant jusqu’à, et y compris, la clôture de l’assemblée générale ordinaire des actionnaires à tenir en 2029 qui statuera sur les comptes annuels de l’exercice social clôturé le 31 décembre 2028. Le mandat de l’administrateur est rémunéré, cette rémunération étant telle que décidée par l’assemblée générale des actionnaires de temps à autre. |
(a) The general shareholders’ meeting resolves to re-appoint Michael K. McGarrity, as director of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
| (b) L’assemblée générale des actionnaires décide de renouveler le mandat de Ahok BV, représentée par Koen Hoffman en tant que représentant permanent, en tant qu’administrateur de la Société, pour une durée de deux ans, s’étendant jusqu’à, et y compris, la clôture de l’assemblée générale ordinaire des actionnaires à tenir en 2028 qui statuera sur les comptes annuels de l’exercice social clôturé le 31 décembre 2027. Le mandat de l’administrateur est rémunéré, cette rémunération étant telle que décidée par l’assemblée générale des actionnaires de temps à autre. |
(b) The general shareholders’ meeting resolves to re-appoint Ahok BV, represented by Koen Hoffman as permanent representative, as director of the Company for a term of two years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2028 which will have decided upon the financial statements for the financial year ended on December 31, 2027. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 6/18 |
| ► Instruction de vote: | ►Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
|
(c) L’assemblée générale des actionnaires décide de renouveler le mandat de Dr. Sanford Jay Siegel en tant qu’administrateur de la Société, pour une durée de deux ans, s’étendant jusqu’à, et y compris, la clôture de l’assemblée générale ordinaire des actionnaires à tenir en 2028 qui statuera sur les comptes annuels de l’exercice social clôturé le 31 décembre 2027. Le mandat de l’administrateur est rémunéré, cette rémunération étant telle que décidée par l’assemblée générale des actionnaires de temps à autre. |
(c) The general shareholders’ meeting resolves to re-appoint Dr. Sanford Jay Siegel as director of the Company for a term of two years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2028 which will have decided upon the financial statements for the financial year ended on December 31, 2027. The mandate of the director shall be remunerated, which remuneration shall be as decided by the general shareholders’ meeting from time to time. |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
|
Note: Si les résolutions proposées au point 6 sont approuvées par l’assemblée générale des actionnaires, le conseil d’administration de la Société sera composé de (1) Michael K. McGarrity, chief executive officer (CEO), administrateur et administrateur délégué (jusqu’en 2029), (2) Ahok BV, représentée par Koen Hoffman, administrateur et président du conseil d’administration (jusqu’en 2028), (3) Dr. Sanford Jay Siegel, administrateur (jusqu’en 2028), (4) Donnie M. Hardison Jr., administrateur (jusqu’en 2027), (5) Hilde Windels BV, représentée par Hilde Windels, administrateur (jusqu’en 2027), (6) Eric Bednarski, administrateur (jusqu’en 2027), et (7) Michael Brian Holder, administrateur (jusqu’en 2027). |
Note: If the proposed resolutions set out in point 6 are approved by the general shareholders’ meeting, the Company’s board of directors will be composed of (1) Michael K. McGarrity, chief executive officer (CEO), executive director and managing director (until 2029), (2) Ahok BV, represented by Koen Hoffman, director and chair of the board of directors (until 2028), (3) Dr. Sanford Jay Siegel, director (until 2028), (4) Donnie M. Hardison Jr., director (until 2027), (5) Hilde Windels BV, represented by Hilde Windels, director (until 2027), (6) Eric Bednarski, director (until 2027), and (7) Michael Brian Holder, director (until 2027). |
|
7. Renouvellement du mandat du commissaire En tenant compte de la recommandation et de la préférence du comité d’audit, le conseil d’administration recommande que BDO Réviseurs d’Entreprises SRL, représentée par Evy Borry en tant que représentante permanente, soit renouvelée en tant que commissaire de la Société pour un mandat de trois (3) ans jusqu’à, et y compris, la clôture de l’assemblée générale ordinaire des actionnaires à tenir en 2029 qui statuera sur les comptes annuels de l’exercice social clôturé le 31 décembre 2028.
► Proposition de résolution : En tenant compte de la recommandation du conseil d’administration, sur recommandation et préférence du comité d’audit, l’assemblée générale des actionnaires décide de renouveler le mandat de BDO Réviseurs d’Entreprises SRL, représentée par Evy Borry en tant que représentante permanente, en tant que commissaire de la Société pour une durée de trois ans, s’étendant jusqu’à, et y compris, la clôture de l’assemblée générale ordinaire des actionnaires à tenir en 2029 qui statuera sur les comptes annuels de l’exercice social clôturé le 31 décembre 2028. Pour la durée de son mandat, la rémunération annuelle du commissaire de la Société sera de EUR 275.000,00 (hors TVA, taxes et frais selon le cas) pour le contrôle des comptes consolidés du groupe et le contrôle des comptes annuels statutaires (non consolidés) de la Société, à l’exclusion du contrôle des comptes annuels conformément aux normes PCAOB GAAP aux fins de leur dépôt aux États-Unis d’Amérique. Ces honoraires sont soumis à une indexation annuelle basée sur l’indice standard (indice des prix à la consommation). |
7 Re-appointment of the statutory auditor Taking into account the recommendation and preference of the audit committee, the board of directors recommends that BDO Réviseurs d’Entreprises SRL, represented by Evy Borry as permanent representative, be re-appointed as statutory auditor of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028.
► Proposed resolution: Taking into account the recommendation of the board of directors upon recommendation and preference of the audit committee, the general shareholders’ meeting resolves to re-appoint BDO Réviseurs d’Entreprises SRL, represented by Evy Borry as permanent representative, as statutory auditor of the Company for a term of three years, up to and including the closing of the ordinary general shareholders’ meeting to be held in 2029 which will have decided upon the financial statements for the financial year ended on December 31, 2028. For the duration of its mandate, the annual remuneration of the statutory auditor of the Company shall be EUR 275,000 (excluding VAT, taxes and expenses, as applicable) for the audit of the consolidated accounts of the group and the audit of the (non-consolidated) statutory financial statements of the Company, but excluding the audit of the financial statements in accordance with PCAOB GAAP for the purpose of filing in the United States of America. These fees are subject to a yearly indexation based on the standard index (consumer price index). |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 7/18 |
| ORDRE DU JOUR assemblée générale extraordinaire |
agenda extraordinary general meeting |
| 1. Communication des rapports –Warrants d’Exact Sciences 2026 | 1. Submission of reports – 2026 Exact Sciences Warrants | ||
| Communication et discussion sur: | Submission of and discussion on: | ||
| a) le rapport du conseil d’administration de la Société, préparé conformément aux articles 7:180, 7:191 et 7:193 du Code des sociétés et des associations, relatif à la proposition d’émettre, en faveur de Genomic Health, Inc. (une filiale d’Exact Sciences Corporation, ci-après dénommée “Exact Sciences”), 3.000.000 de nouveaux droits de souscription pour actions de la Société (les “Warrants d’Exact Sciences 2026”), et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur d’Exact Sciences ; et | a) the report of the board of directors of the Company, prepared in accordance with articles 7:180, 7:191 and 7:193 of the Belgian Companies and Associations Code, in relation to the proposal to issue, for the benefit of Genomic Health, Inc. (a subsidiary of Exact Sciences Corporation, referred to herein as “Exact Sciences”), 3,000,000 new subscription rights for shares of the Company (the “2026 Exact Sciences Warrants”), and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences; and | ||
| b) le rapport du commissaire de la Société, préparé conformément aux articles 7:180, 7:191 et 7:193 du Code des sociétés et des associations, concernant la proposition d’émettre en faveur d’Exact Sciences 3.000.000 de Warrants d’Exact Sciences 2026, et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur d’Exact Sciences. | b) the report of the Company’s statutory auditor, prepared in accordance with articles 7:180, 7:191 and 7:193 of the Belgian Companies and Associations Code, in relation to the proposal to issue for the benefit of Exact Sciences 3,000,000 2026 Exact Sciences Warrants, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences. | ||
| 2. Proposition d’émettre 3.000.000 de Warrants d’Exact Sciences 2026 | 2. Proposal to issue 3,000,000 2026 Exact Sciences Warrants | ||
| ► Proposition de résolution : | ►Proposed resolution: | ||
L’assemblée générale des actionnaires décide d’approuver l’émission de 3.000.000 de nouveaux droits de souscription pour actions de la Société, dénommés les “Warrants d’Exact Sciences 2026”, et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur d’Exact Sciences. En conséquence, l’assemblée générale des actionnaires décide de ce qui suit : |
The general shareholders’ meeting resolves to approve the issuance of 3,000,000 new subscription rights for shares of the Company, called the “2026 Exact Sciences Warrants”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the Company’s existing shareholders and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences. To this end, the general shareholders’ meeting resolves as follows: | ||
| (a) Termes et conditions des droits de souscription: Les termes et conditions des Warrants d’Exact Sciences 2026 seront tels que figurant dans l’annexe au rapport du conseil d’administration visé au point 1.(a) de l’ordre du jour (aux fins de la présente résolution, les “Termes et Conditions des Warrants d’Exact Sciences 2026”), dont une copie restera jointe au procès-verbal constatant la présente résolution. Les principaux termes et conditions des Termes et Conditions des Warrants d’Exact Sciences 2026 peuvent, à titre d’information, être résumés comme suit : | (a) Terms and conditions of the subscription rights: The terms and conditions of the 2026 Exact Sciences Warrants will be in accordance with the annex of the report of the board of directors referred to in item 1.(a) of the agenda (for the purposes of this resolution, the “2026 Exact Sciences Warrants Terms and Conditions”), a copy of which will remain attached to the minutes recording the present resolution. The main terms and conditions of the 2026 Exact Sciences Warrants can, for information purposes, be summarised as follows: | ||
(i) Droit de souscrire à une action ordinaire : Chaque Warrant d’Exact Sciences 2026 permet à son détenteur de souscrire à une (1) action ordinaire de la Société à émettre par la Société. |
(i) Right to subscribe for one ordinary share: Each 2026 Exact Sciences Warrant entitles the holder to subscribe for one (1) ordinary share of the Company to be issued by the Company. | ||
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 8/18 |
| (ii) Prix d’exercice : Le prix d’exercice des Warrants d’Exact Sciences 2026 (c’est-à-dire le prix à payer en numéraire pour souscrire à une nouvelle action de la Société lorsqu’un Warrant Exact Sciences 2026 est exercé) sera de USD 5,265. Le prix d’exercice est sujet à d’éventuels ajustements habituels à la baisse en cas de certaines actions dilutives de la Société. | (ii) Exercise price: The exercise price of the 2026 Exact Sciences Warrants (i.e., the price to be paid in cash to subscribe for one new share in the Company when a 2026 Exact Sciences Warrant is exercised) will be USD 5.265. The exercise price is subject to potential customary downward adjustments in the case of certain dilutive actions of the Company. | ||
| (iii) Durée : Les Warrants d’Exact Sciences 2026 auront une durée commençant à partir de leur émission et se terminant le 8 janvier 2031 (inclus). | (iii) Term: The 2026 Exact Sciences Warrants will have a term starting as from their issuance and ending on (and including) January 8, 2031. | ||
| (iv) Possibilité d’exercice : L’exercice des Warrants d’Exact Sciences 2026 sera soumis aux termes et conditions contenus dans les Termes et Conditions des Warrants d’Exact Sciences 2026. Les Warrants d’Exact Sciences 2026 peuvent être exercés à partir de leur émission et jusqu’à la fin de leur durée, à condition qu’un nombre de Warrants d’Exact Sciences 2026 avec un prix d’exercice global d’au moins USD 500.000 soit exercé par leur détenteur. | (iv) Exercisability: The exercise of the 2026 Exact Sciences Warrants will be subject to the terms and conditions contained in the 2026 Exact Sciences Warrants Terms and Conditions. The 2026 Exact Sciences Warrants may be exercised as from their issuance and until the end of their term, provided that a number of 2026 Exact Sciences Warrants with an aggregate exercise price of at least USD 500,000 are exercised by the holder thereof. | ||
| (v) Cessibilité : A moins que la Société autorise explicitement la cession des Warrants d’Exact Sciences 2026, les Warrants d’Exact Sciences 2026 ne peuvent pas être cédés par leur détenteur. En outre, les Warrants d’Exact Sciences 2026 ne seront pas admis à la cotation ou à la négociation. | (v) Transferability: Except if the Company were to explicitly allow a transfer of the 2026 Exact Sciences Warrants, the 2026 Exact Sciences Warrants cannot be transferred by a holder. Furthermore, the 2026 Exact Sciences Warrants will not be admitted to listing or trading. |
| (b) Actions sous-jacentes : Chaque Warrant d’Exact Sciences 2026 donnera à son détenteur le droit de souscrire à une nouvelle action à émettre par la Société. Les nouvelles actions à émettre lors de l’exercice des Warrants d’Exact Sciences 2026 auront les mêmes droits et avantages, et seront à tous égards pari passu, y compris en ce qui concerne les droits aux dividendes et autres distributions, avec les actions existantes et en circulation de la Société au moment de leur émission, et auront droit aux dividendes et autres distributions pour lesquelles la date d’enregistrement ou la date d’échéance tombe à, ou après leur date d’émission. | (b) Underlying shares: Each 2026 Exact Sciences Warrant will entitle its holder to subscribe for one new share to be issued by the Company. The new shares to be issued upon exercise of the 2026 Exact Sciences Warrants shall have the same rights and benefits as, and rank pari passu in all respects including as to entitlement to dividends and other distributions, with the existing and outstanding shares of the Company at the moment of their issuance and will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of their issuance. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 9/18 |
| (c) Suppression du droit de préférence en faveur d’Exact Science : L’assemblée générale des actionnaires décide, conformément aux articles 7:191 et 7:193 du Code des sociétés et des associations, de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs actuels de droits de souscription en circulation (share options) de la Société, en faveur d’Exact Sciences, comme expliqué dans le rapport du conseil d’administration visé au point 1.(a) de l’ordre du jour. | (c) Dis-application of the statutory preferential subscription right for the benefit of Exact Sciences: The general shareholders’ meeting resolves, in accordance with articles 7:191 and 7:193 of the Belgian Companies and Associations Code, to dis-apply, in the interest of the Company, the statutory preferential subscription right of existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of Exact Sciences, as explained in the report of the board of directors referred to in item 1.(a) of the agenda. | ||
| (d) Augmentation de capital conditionnelle et émission de nouvelles actions : L’assemblée générale des actionnaires décide, sous réserve et dans la mesure de l’exercice des Warrants d’Exact Sciences 2026, d’augmenter le capital de la Société et d’émettre le nombre approprié de nouvelles actions pouvant être émises lors de l’exercice des Warrants d’Exact Sciences 2026. Sous réserve et conformément aux dispositions des Termes et Conditions des Warrants d’Exact Sciences 2026, lors de l’exercice des Warrants d’Exact Sciences 2026 et de l’émission de nouvelles actions, le prix d’exercice agrégé des Warrants d’Exact Sciences 2026 sera comptabilisé (le cas échéant, après conversion dans la devise du capital de la Société, sur la base du taux de change USD/EUR publié par la Banque Centrale Européenne, comme prévu à l’article 5.4 des Termes et Conditions des Warrants d’Exact Sciences 2026) en tant que capital de la Société. Dans la mesure où le montant du prix d’exercice des Warrants d’Exact Sciences 2026, par action à émettre lors de l’exercice des Warrants d’Exact Sciences 2026, excède le pair comptable des actions de la Société existantes immédiatement avant l’émission des nouvelles actions concernées, une partie du prix d’exercice, par action à émettre lors de l’exercice des Warrants d’Exact Sciences 2026, égale à ce pair comptable sera comptabilisée en capital, le solde étant comptabilisé en prime d’émission. Suite à l’augmentation de capital et à l’émission de nouvelles actions, chaque action nouvelle et existante représentera la même fraction du capital de la Société. | (d) Conditional capital increase and issue of new shares: The general shareholders’ meeting resolves, subject to and in the case of the exercise of the 2026 Exact Sciences Warrants, to increase the share capital of the Company and to issue the appropriate number of new shares that may be issued upon exercise of the 2026 Exact Sciences Warrants. Subject to, and in accordance with, the respective provisions of the 2026 Exact Sciences Warrants Terms and Conditions, upon exercise of the 2026 Exact Sciences Warrants and the issuance of new shares, the aggregate amount of the exercise price of the 2026 Exact Sciences Warrants will be allocated to (as the case may be, following conversion into the Company’s share capital currency, on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank, as provided for in article 5.4 of the 2026 Exact Sciences Warrants Terms and Conditions) the share capital of the Company. To the extent that the amount of the exercise price of the 2026 Exact Sciences Warrants, per share to be issued upon exercise of the 2026 Exact Sciences Warrants, exceeds the fractional value of the existing shares of the Company immediately prior to the issue of the new shares concerned, a part of the exercise price, per share to be issued upon exercise of the 2026 Exact Sciences Warrants, equal to such fractional value shall be booked as share capital, whereby the balance shall be booked as issue premium. Following the capital increase and issuance of new shares, each new and existing share shall represent the same fraction of the share capital of the Company. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 10/18 |
| (e) Prime d’émission : Toute prime d’émission qui sera comptabilisée en rapport avec les Warrants d’Exact Sciences 2026 (sur exercice des Warrants d’Exact Sciences 2026 ou autrement) sera comptabilisée sur un compte indisponible au passif du bilan de la Société dans ses capitaux propres, et le compte sur lequel la prime d’émission sera comptabilisée constituera, au même titre que le capital de la Société, la garantie des tiers et, sauf possibilité de capitalisation de ces réserves, ne pourra être réduit ou supprimé que par une décision de l’assemblée générale des actionnaires statuant dans les conditions requises pour la modification des statuts de la Société. | (e) Issue premium: Any issue premium that will be booked in connection with the 2026 Exact Sciences Warrants (whether upon exercise of the 2026 Exact Sciences Warrants, or otherwise) shall be accounted for on a non-distributable account on the liabilities side of the Company’s balance sheet under its net equity, and the account on which the issue premium will be booked shall, like the share capital, serve as a guarantee for third parties and can only be reduced on the basis of a lawful resolution of the general shareholders’ meeting passed in the manner required for an amendments to the Company’s articles of association. | ||
| (f) Procurations : Le conseil d’administration est autorisé à mettre en œuvre et à exécuter les résolutions adoptées par l’assemblée générale des actionnaires en rapport avec les Warrants d’Exact Sciences 2026, et à prendre toutes les mesures et à accomplir toutes les formalités qui seront requises en vertu des Termes et Conditions des Warrants d’Exact Sciences 2026, des statuts de la Société et des lois applicables afin d’émettre ou transférer les actions lors de l’exercice des Warrants d’Exact Sciences 2026. En outre, chaque administrateur de la Société et Joe Sollee, chacun agissant individuellement et avec possibilité de subdélégation et pouvoir de subrogation, auront le pouvoir, lors de l’exercice des Warrants d’Exact Sciences 2026, (i) de procéder à la constatation (A) de l’augmentation de capital et de l’émission de nouvelles actions résultant de cet exercice, (B) de la comptabilisation en tant que capital et (le cas échéant) prime d’émission, et (C) de la modification des statuts de la Société afin de refléter le nouveau capital et nombre d’actions en circulation suite à l’exercice des Warrants d’Exact Sciences 2026, (ii) de signer et remettre, au nom de la Société, la documentation Euroclear, Computershare, Nasdaq, bancaire et/ou autre pertinente, le registre des actions et tous les autres documents nécessaires en relation avec l’émission et la délivrance des actions au bénéficiaire et l’admission de ces actions à la cotation et à la négociation, et (iii) faire tout ce qui peut être nécessaire ou utile (y compris, mais sans s’y limiter, la préparation et l’exécution de tous les documents et formulaires) pour l’admission des actions émises lors de l’exercice des Warrants d’Exact Sciences 2026 à la négociation sur le Nasdaq (ou tout autre marché sur lequel les actions de la Société seront alors négociées à ce moment). | (f) Powers of attorney: The board of directors is authorised to implement and execute the resolutions adopted by the general shareholders’ meeting in connection with the 2026 Exact Sciences Warrants, and to take all measures and carry out all formalities that will be required pursuant to the 2026 Exact Sciences Warrants Terms and Conditions, the Company’s articles of association and all applicable laws in order to issue or transfer the shares upon exercise of the 2026 Exact Sciences Warrants. In addition, each director of the Company and Joe Sollee, each such person acting individually and with the possibility of sub-delegation and power of subrogation, shall have the power, upon exercise of the 2026 Exact Sciences Warrants, (i) to proceed with the recording of (A) the capital increase and the issue of new shares resulting from such exercise, (B) the allocation as share capital and (if applicable) as issue premium, and (C) the amendment of the Company’s articles of association to reflect the new share capital and number of shares outstanding following the exercise of the 2026 Exact Sciences Warrants (ii) to sign and deliver, on behalf of the Company, the relevant Euroclear, Computershare, Nasdaq and/or bank documentation, the share register and all other necessary documents in connection with the issuance and delivery of the shares to the beneficiary and the admission to listing and trading of such shares, and (iii) to do whatever may be necessary or useful (including, but not limited to, the preparation and execution of all documents and forms) for the admission of the shares issued upon exercise of the 2026 Exact Sciences Warrants to trading on Nasdaq (or any other market on which the Company’s shares will then be traded). |
| 3. Communication des rapports - Plan d’Option sur Action de 2026 | 3. Submission of reports - 2026 Share Option Plan | ||
Communication et discussion sur : |
Submission of and discussion on: | ||
| (a) le rapport du conseil d’administration de la Société, préparé conformément aux articles 7:180 et 7:191 du Code des sociétés et associations relatif à la proposition d’émettre 3.000.000 nouveaux droits de souscription de la Société (les “2026 Share Options”), en vertu d’un plan d’option sur action dénommé “le Plan d’Option sur Action de 2026”, et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur des membres du personnel de la Société et de ses filiales de temps à autre, au sens de l’article 1:27 du Code des sociétés et des associations (les “Participants Sélectionnés”); et | (a) the report of the board of directors of the Company, prepared in accordance with articles 7:180 and 7:191 of the Belgian Companies and Associations Code, in relation to the proposal to issue 3,000,000 new subscription rights for shares of the Company (the “2026 Share Options”), pursuant to a share option plan named “the 2026 Share Option Plan”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the members of the personnel of the Company and its subsidiaries from time to time, within the meaning of article 1:27 of the Belgian Companies and Associations Code (the “Selected Participants”); and | ||
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 11/18 |
| (b) le rapport du commissaire de la Société, préparé conformément aux articles 7:180 et 7:191 du Code des sociétés et des associations, concernant la proposition d’émettre 3.000.000 2026 Share Options et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur des Participant Sélectionnés. | (b) the report of the statutory auditor of the Company, prepared in accordance with articles 7:180 and 7:191 of the Belgian Companies and Associations Code, in relation to the proposal to issue 3,000,000 2026 Share Options, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants. |
| 4. Proposition d’émettre 3.000.000 2026 Share Options | 4. Proposal to issue 3,000,000 2026 Share Options | ||
| ► Proposition de résolution : | ► Proposed resolution: | ||
| L’assemblée générale des actionnaires décide d’approuver l’émission de 3.000.000 de 2026 Share Options, en vertu d’un plan d’option sur action dénommé “le Plan d’Option sur Action de 2026”, et de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur des Participants Sélectionnés. En conséquence, l’assemblée générale des actionnaires décide de ce qui suit : | The general shareholders’ meeting resolves to approve the issuance of 3,000,000 2026 Share Options, pursuant to a share option plan named the “2026 Share Option Plan”, and to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants. In view thereof, the general shareholders’ meeting resolves as follows: | ||
| (a) Termes et conditions des 2026 Share Options : Les termes et conditions des 2026 Share Options (inclus, mais sans s’y limiter, le prix d’exercice des 2026 Share Options) seront tels que figurant dans l’annexe au rapport du conseil d’administration visé au point 3.(a) de l’ordre du jour (aux fins de la présente résolution, le “Plan”), dont une copie restera jointe procès-verbal constatant la présente résolution. Les 2026 Share Options ont une durée de 10 ans à partir de leur date d’émission. | (a) Terms and conditions of the 2026 Share Options: The terms and conditions of the 2026 Share Options (including, but not limited to, the exercise price of the 2026 Share Options) shall be as set out in the annex to the report of the board of directors referred to in item 3.(a) of the agenda (for the purpose of this resolution, the “Plan”), a copy of which shall remain attached to the minutes recording the present resolution. The 2026 Share Options have a term of ten years as from their issue date. | ||
| (b) Actions sous-jacentes : Chaque 2026 Share Option donne à son détenteur le droit de souscrire à une nouvelle action qui sera émise par la Société. Les nouvelles actions à émettre lors de l’exercice des 2026 Share Options auront les mêmes droits et avantages, et seront à tous égards pari passu, en ce compris en ce qui concerne les droits aux dividendes et autres distributions, avec les actions existantes et en circulation de la Société au moment de leur émission, et auront droit aux dividendes et autres distributions pour lesquelles la date d’enregistrement ou la date d’échéance tombe à, ou après la date d’émission des nouvelles actions. | (b) Underlying shares: Each 2026 Share Option shall entitle the holder thereof to subscribe for one new share to be issued by the Company. The new shares to be issued at the occasion of the exercise of the 2026 Share Options shall have the same rights and benefits as, and rank pari passu in all respects, including as to entitlements to dividends and other distributions, with the existing and outstanding shares of the Company at the moment of their issuance, and will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of issue of the new shares. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 12/18 |
| (c) Suppression du droit de préférence en faveur des Participants Sélectionnés : L’assemblée générale des actionnaires décide, conformément à l’article 7:191 du Code des sociétés et des associations, de supprimer, dans l’intérêt de la Société, le droit de préférence des actionnaires existants de la Société et, pour autant que de besoin, des détenteurs de droits de souscription en circulation (share options) de la Société, en faveur des Participants Sélectionnés, et d’approuver la possibilité pour la Société d’octroyer les 2026 Share Options aux Participants Sélectionnés, comme expliqué plus en détail dans le rapport du conseil d’administration visé au point 3.(a) de l’ordre du jour et dans les termes et conditions du Plan. | (c) Dis-application of the preferential subscription right for the benefit of the Selected Participants: The general shareholders’ meeting resolves, in accordance with article 7:191 of the Belgian Companies and Associations Code, to dis-apply, in the interest of the Company, the statutory preferential subscription right of the existing shareholders of the Company and, insofar as required, of the holders of outstanding subscription rights (share options) of the Company, for the benefit of the Selected Participants, and to approve the possibility for the Company to grant the 2026 Share Options to the Selected Participants, as further explained in the report of the board of directors referred to in item 3.(a) of the agenda and the terms and conditions of the Plan. | ||
| (d) Confirmation de la souscription de 2026 Share Options par la Société : L’assemblée générale des actionnaires décide d’approuver et de confirmer que la Société sera en mesure de souscrire aux 2026 Share Options, en vue de créer un pool de 2026 Share Options disponible pour des octrois ultérieurs aux Participants Sélectionnés. La Société ne peut cependant pas exercer les 2026 Share Options pour son compte propre. | (d) Confirmation of the subscription of 2026 Share Options by the Company: The general shareholders’ meeting resolves to approve and confirm that the Company will be able to subscribe for the 2026 Share Options, with a view to creating a pool of outstanding 2026 Share Options available for further grants to Selected Participants. The Company may not, however, exercise the 2026 Share Options for its own account. | ||
| (e) Augmentation de capital conditionnelle et émission de nouvelles actions : L’assemblée générale des actionnaires décide, sous réserve et dans la mesure de l’exercice des 2026 Share Options, d’augmenter le capital de la Société et d’émettre le nombre approprié de nouvelles actions pouvant être émises lors de l’exercice des 2026 Share Options. Sous réserve et conformément aux dispositions du Plan, lors de l’exercice des 2026 Share Options et de l’émission de nouvelles actions, le montant total du prix d’exercice des 2026 Share Options sera affecté (le cas échéant, après conversion dans la devise du capital de la Société, sur la base du taux de change USD/EUR publié par la Banque Centrale Européenne, comme prévu à l’article 5.2 du Plan) au capital de la Société. Dans la mesure où le montant du prix d’exercice des 2026 Share Options, par action à émettre lors de l’exercice des 2026 Share Options, excède le pair comptable des actions de la Société existantes alors immédiatement avant l’émission des nouvelles actions concernées, une partie du prix d’exercice, par action à émettre lors de l’exercice des 2026 Share Options, égale à ce pair comptable sera comptabilisée en capital, le solde étant comptabilisé en prime d’émission. Suite à l’augmentation de capital et à l’émission de nouvelles actions, chaque action nouvelle et existante représentera la même fraction du capital de la Société. | (e) Conditional capital increase and issue of new shares: The general shareholders’ meeting resolves, subject to, and to the extent of the exercise of the 2026 Share Options, to increase the Company’s share capital and to issue the relevant number of new shares issuable upon the exercise of the 2026 Share Options. Subject to, and in accordance with, the provisions of the Plan, upon exercise of the 2026 Share Options and issue of new shares, the aggregate amount of the exercise price of the 2026 Share Options will be allocated to (as the case may be, following conversion into the Company’s share capital currency, on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank, as provided for in article 5.2 of the Plan) the share capital of the Company. To the extent that the amount of the exercise price of the 2026 Share Options, per share to be issued upon exercise of the 2026 Share Options, exceeds the fractional value of the then existing shares of the Company existing immediately prior to the issue of the new shares concerned, a part of the exercise price, per share to be issued upon exercise of the 2026 Share Options, equal to such fractional value shall be booked as share capital, whereby the balance shall be booked as issue premium. Following the capital increase and issuance of new shares, each new and existing share shall represent the same fraction of the share capital of the Company. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 13/18 |
| (f) Prime d’émission : Toute prime d’émission qui sera comptabilisée en relation avec les 2026 Share Options sera comptabilisée sur un compte indisponible au passif du bilan de la Société dans ses capitaux propres, et le compte sur lequel la prime d’émission sera comptabilisée constituera, au même titre que le capital de la Société, la garantie des tiers et, sauf possibilité de capitalisation de ces réserves, ne pourra être réduit ou supprimé que par une décision de l’assemblée générale des actionnaires statuant dans les conditions requises pour la modification des statuts de la Société. | (f) Issue premium: Any issue premium that will be booked in connection with the 2026 Share Options shall be accounted for on a non-distributable account on the liabilities side of the Company’s balance sheet under its net equity, and the account on which the issue premium will be booked shall, like the share capital, serve as a guarantee for third parties and can only be reduced on the basis of a lawful resolution of the general shareholders’ meeting passed in the manner required for an amendments to the Company’s articles of association. | ||
| (g) Procurations : Le conseil d’administration est autorisé à mettre en œuvre et à exécuter les résolutions adoptées par l’assemblée générale des actionnaires en rapport avec les 2026 Share Options, et à prendre toutes les mesures et à accomplir toutes les formalités requises en vertu du Plan, des statuts de la Société et de la loi applicable afin d’émettre ou transférer les actions lors de l’exercice des 2026 Share Options. En outre, chaque administrateur de la Société et Joe Sollee, chacun agissant individuellement et avec possibilité de subdélégation et pouvoir de subrogation, auront le pouvoir, lors de l’exercice des 2026 Share Options, (i) de procéder à la constatation (A) de l’augmentation de capital et de l’émission de nouvelles actions résultant de cet exercice, (B) de la comptabilisation en tant que capital et (le cas échéant) prime d’émission, et (C) de la modification des statuts de la Société afin de refléter le nouveau capital et nombre d’actions en circulation suite à l’exercice des 2026 Share Options, (ii) de signer et remettre, au nom de la Société, la documentation Euroclear, Computershare, Nasdaq, bancaire et/ou autre pertinente, le registre des actions et tous les autres documents nécessaires en relation avec l’émission et la délivrance des actions aux Participant Sélectionnés concernés et l’admission de ces actions à la cotation et à la négociation, et (iii) faire tout ce qui peut être nécessaire ou utile (y compris, mais sans s’y limiter, la préparation et l’exécution de tous les documents et formulaires) pour l’admission des actions émises lors de l’exercice des 2026 Share Options à la négociation sur Nasdaq (ou tout autre marché sur lequel les actions de la Société seront négociées à ce moment). | (g) Powers of attorney: The board of directors is authorised to implement and execute the resolutions passed by the general shareholders’ meeting in connection with the 2026 Share Options, and to take all steps and carry out all formalities that shall be required by virtue of the Plan, the Company’s articles of association and applicable law in order to issue or transfer the shares upon exercise of the 2026 Share Options. Furthermore, each of the Company’s directors and Joe Sollee, each such person acting individually and with possibility of sub-delegation and the power of subrogation, shall have the power, upon exercise of the 2026 Share Options, (i) to proceed with the recording of (A) the capital increase and issue of new shares resulting from such exercise, (B) the allocation as share capital and (as applicable) as issue premium, and (C) the amendment of the Company’s articles of association to reflect the new share capital and number of outstanding shares following the exercise of the 2026 Share Options, (ii) to sign and deliver, on behalf of the Company, the relevant Euroclear, Computershare, Nasdaq, bank and/or other documentation, the share register and all other necessary documents in connection with the issuance and delivery of the shares to the Selected Participants concerned and the admission to listing and trading of such shares, and (iii) to do whatever may be necessary or useful (including but not limited to the preparation and execution of all documents and forms) for the admission of the shares issued upon the exercise of the 2026 Share Options to trading on Nasdaq (or such other markets on which the Company’s shares will be trading at that time). |
| ► Instruction de vote: | ► Voting instruction: | |
| 0 Pour / For | 0 Contre / Against | 0 Abstention |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 14/18 |
| 5. Communication du rapport spécial du conseil d’administration conformément à l’article 7:199 du Code des sociétés et des associations relatif à la proposition de renouveler le capital autorisé Considération, discussion et communication du rapport spécial du conseil d’administration conformément à l’article 7:199 du Code des sociétés et des associations relatif à la proposition de renouveler les pouvoirs conférés au conseil d’administration dans le cadre du capital autorisé, tel que repris ci-dessous au point 6 de l’ordre du jour, et exposant les circonstances spécifiques dans lesquelles le conseil d’administration pourra utiliser ses pouvoirs dans le cadre du capital autorisé, et les objectifs qu’il devra poursuivre. |
5. Submission of the special report of the board of directors in accordance with article 7:199 of the Belgian Companies and Associations Code relating to the proposal to renew the authorized capital Consideration, discussion and submission of the special report of the board of directors in accordance with article 7:199 of the Belgian Companies and Associations Code relating to the proposal to renew the powers granted to the board of directors under the authorized capital, as set out below in item 6 of the agenda, and setting out the specific circumstances in which the board of directors will be able to use its powers under the authorized capital, and the purposes that it should pursue. |
| 6. Renouvellement de l’autorisation au conseil d’administration d’augmenter le capital dans le cadre du capital autorisé Afin de permettre au conseil d’administration de disposer de la flexibilité nécessaire pour lever des fonds propres supplémentaires lorsque le besoin s’en fait sentir ou qu’une opportunité se présente, le conseil d’administration propose de lui accorder des pouvoirs limités dans le cadre du capital autorisé pour augmenter le capital de la Société d’un montant maximum égal à 100% du montant du capital de la Société pendant une période de cinq (5) ans, le tout comme indiqué ci-dessous. Pour de plus amples informations sur les circonstances dans lesquelles le conseil d’administration pourrait faire usage du capital autorisé et sur les objectifs que le conseil d’administration poursuivrait avec le capital autorisé, voyez également le rapport spécial mentionné au point 5 de l’ordre du jour. |
6. Renewal of the authorization to the board of directors to increase the share capital within the framework of the authorized capital In order to allow the board of directors the flexibility to raise additional equity-based financing as and when the need may arise or an opportunity would present itself, the board of directors proposes that it be granted limited powers under the authorized capital to increase the Company’s share capital by a maximum amount of 100% during a term of five (5) years, all as further set out below. For further information on the circumstances in which the board of directors could make use of the authorized capital and the objectives that the board of directors would pursue with the authorized capital, see also the special report referred to in item 5 of the agenda. |
| ► Proposition de résolution : | ►Proposed resolution: |
| L’assemblée générale des actionnaires décide de renouveler l’autorisation donnée au conseil d’administration d’augmenter le capital en une ou plusieurs fois, pendant une période de cinq (5) ans à compter de la publication aux Annexes du Moniteur belge de la présente autorisation, d’un montant total jusqu’à 100% du montant du capital de la Société, et ce conformément aux conditions et modalités fixées dans le rapport spécial du conseil d’administration établi conformément à l’article 7:199 du Code des sociétés et des associations, tel que visé au point 5 de l’ordre du jour de la présente assemblée générale extraordinaire des actionnaires. En conséquence, l’assemblée générale des actionnaires décide de supprimer l’article 6 “Capital autorisé” des statuts de la Société et de le remplacer par le texte suivant (la date mentionnée dans la sous-section entre crochets étant la date de l’assemblée générale approuvant le capital autorisé renouvelé, et le montant mentionné dans la sous-section entre crochets étant le montant du capital de la Société au moment de l’assemblée générale approuvant le capital autorisé) : | The general shareholders’ meeting resolves to renew the authorization to the board of directors to increase the share capital in one or several times, during a period of five (5) years as from the publication in the Annexes to the Belgian Official Gazette of this authorization, with an aggregate amount equal to up to 100% of the amount of the share capital of the Company, and this in accordance with the terms and conditions set forth in the special report of the board of directors prepared in accordance with article 7:199 of the Belgian Companies and Associations Code, as referred to in agenda item 5 of this extraordinary general shareholders’ meeting. Consequently, the general shareholders’ meeting resolves to delete article 6 “Authorized capital” of the articles of association of the Company entirely and to replace it with the following text (whereby the date referred to in the sub-section between square brackets shall be the date of the general shareholders’ meeting approving the renewed authorized capital, and the amount referred to in the sub-section between brackets shall be the amount of the Company’s share capital at the time of the general shareholders’ meeting approving the authorized capital): |
“Article 6 : Capital Autorisé |
“Article 6: Authorized capital |
Le conseil d’administration est autorisé à augmenter le capital de la société en une ou plusieurs fois d’un montant total maximum de [100 % du capital de la société au moment de l’adoption du nouveau capital autorisé]. |
The board of directors is authorized to increase the share capital of the company on one or several occasions by a maximum aggregate amount of [100% of the company’s share capital at the time of the adoption of the new authorized capital]. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 15/18 |
Le conseil d’administration peut augmenter le capital par des apports en numéraire ou en nature, par l’incorporation de réserves, disponibles ou non, et par l’incorporation de primes d’émission, avec ou sans émission de nouvelles actions, à titre gratuit ou pour une contrepartie avec un prix d’émission inférieur, égal ou supérieur au pair comptable des actions existantes, avec ou sans droit de vote, qui auront les droits qui seront déterminés par le conseil d’administration. Sous réserve du droit applicable, le conseil d’administration est également autorisé à utiliser cette autorisation pour l’émission d’obligations convertibles ou de droits de souscription, d’obligations avec droits de souscription ou d’autres titres. |
The board of directors may increase the share capital by contributions in cash or in kind, by capitalization of reserves, whether available or unavailable for distribution, and capitalization of issue premiums, with or without the issuance of new shares, for no consideration or for consideration with an issue price below, at, or above the fractional value of the then existing shares, with or without voting rights, that will have the rights as will be determined by the board of directors. Subject to applicable law, the board of directors is also authorized to use this authorization for the issuance of convertible bonds or subscription rights, bonds with subscription rights or other securities. |
| Cette autorisation est valable pour une période de cinq ans à compter de la date de publication aux Annexes du Moniteur belge d’un extrait du procès-verbal de l’assemblée générale extraordinaire des actionnaires de la société tenue le [date de l’assemblée générale approuvant le capital autorisé renouvelé]. | This authorization is valid for a period of five years as from the date of publication in the Annexes to the Belgian Official Gazette of an extract of the minutes of the extraordinary general shareholders’ meeting of the company held on [date of the general shareholders’ meeting approving the authorized capital]. |
En cas d’augmentation de capital décidée par le conseil d’administration dans le cadre du capital autorisé, toutes les primes d’émission comptabilisées, le cas échéant, seront comptabilisées conformément aux dispositions des présents statuts. |
In the event of a capital increase decided by the board of directors within the framework of the authorized capital, all issue premiums booked, if any, will be accounted for in accordance with the provisions of these articles of association. |
| Le conseil d’administration est autorisé, dans l’exercice de ses pouvoirs dans le cadre du capital autorisé, à limiter ou à supprimer, dans l’intérêt de la société, le droit de préférence des actionnaires. Cette limitation ou suppression du droit de préférence peut également être faite en faveur des membres du personnel de la société ou de ses filiales, ou en faveur d’une ou plusieurs personnes autres que les membres du personnel de la société ou de ses filiales. | The board of directors is authorized, when exercising its powers within the framework of the authorized capital, to restrict or cancel, in the interest of the company, the preferential subscription rights of the shareholders. This restriction or cancellation of the preferential subscription rights can also be done in favor of members of the personnel of the company or of its subsidiaries, or in favor of one or more persons other than members of the personnel of the company or of its subsidiaries. |
Le conseil d’administration est autorisé, avec droit de substitution, à modifier les statuts, après chaque augmentation de capital intervenue dans le cadre du capital autorisé, afin de les mettre en conformité avec la nouvelle situation du capital et des actions.” |
The board of directors is authorized, with the right of substitution, to amend the articles of association, after each capital increase that has occurred within the framework of the authorized capital, in order to bring them in conformity with the new situation of the share capital and the shares.” |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 16/18 |
II. Si les assemblées générales ordinaire et/ou extraordinaire des actionnaires sont ajournées prorogées ou suspendues, le mandataire spécial aura les pouvoirs de représenter le soussigné aux assemblées générales des actionnaires qui seront tenues avec le même ordre du jour, le cas échéant (étant entendu que, par rapport aux points susmentionnés de l’ordre du jour de l’assemblée générale extraordinaire des actionnaires, les votes susmentionnés s’appliqueront en tout état de cause également à la deuxième assemblée générale extraordinaire des actionnaires qui serait convoquée avec un ordre du jour identique à celui de la première assemblée générale extraordinaire des actionnaires dans le cas où le quorum de présence légalement requis pour délibérer et voter valablement sur ces points de l’ordre du jour n’aurait pas été atteint lors de la première assemblée générale extraordinaire des actionnaires): |
II. In case the aforementioned ordinary and/or extraordinary general shareholders’ meetings would be postponed, a adjourned or suspended, the special proxy holder shall have the power to represent the undersigned at the general shareholders’ meetings that would be held having the same agenda, as relevant (it being understood that, in relation to the aforementioned agenda items on the agenda of the extraordinary general shareholders’ meeting, the aforementioned votes will in any event also apply to the second extraordinary general shareholders’ meeting which would be convened with an agenda identical to the agenda of the first extraordinary general shareholders’ meeting in case the legally required attendance quorum to validly deliberate and resolve on such agenda items would not be reached during the first extraordinary general shareholders’ meeting): |
| ☐ oui | ☐ yes |
| ☐ non | ☐ no |
Veuillez remplir la case appropriée. Une absence d’instruction ou si, pour quelque raison, il y a une absence de clarté à propos de l’instruction donnée, le soussigné sera supposé avoir choisi “oui”. Veuillez noter qu’aux fins de s’appliquer à telle assemblée subséquente, les titulaires de titres doivent s’enregistrer à nouveau pour cette assemblée. |
Please tick the appropriate box. In the absence of an instruction, or if, for whatever reason, there is a lack of clarity with regard to the instruction given, the undersigned shall be deemed to have selected “yes”. Please note that in order to apply for such subsequent meeting, holders of securities must again register for such meeting. |
Si, pendant les assemblées, il y a des modifications à une proposition de résolution ou une nouvelle proposition de résolution :1 |
In case of amendments during the meetings to a proposed resolution or a new proposed resolution:1 |
| ☐ le mandataire spécial votera pour la résolution modifiée ou nouvelle | ☐ the proxy holder shall vote for the amended or new resolution |
| ☐ le mandataire spécial votera contre la résolution modifiée ou nouvelle | ☐ the proxy holder shall vote against the amended or new resolution |
| ☐ le mandataire spécial s'abstiendra de voter sur la résolution modifiée ou nouvelle | ☐ the proxy holder shall abstain from the vote on the amended or new resolution |
| ☐ le mandataire spécial votera sur la résolution modifiée ou nouvelle selon la manière supportée ou recommandée par le conseil d'administration de la Société | ☐ the proxy holder shall vote on the amended or new resolution in the manner supported or recommended by the board of directors of the Company |
| 1 Veuillez cocher tel qu’approprié. Une absence d’instruction sera interprétée comme une instruction de voter pour la résolution modifiée ou nouvelle selon la manière supportée ou recommandée par le conseil d’administration de la Société. | 1 Please complete as appropriate. An absence of instruction shall be tantamount to an instruction to vote for the amended or new resolution as will be supported or recommended by the board of directors of the Company. |
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 17/18 |
III. Le mandataire spécial est autorisé, au nom et pour le compte du soussigné, à signer toutes listes de présence et procès-verbaux, à participer à toutes les délibérations, à prendre part au vote sur toutes les décisions ou sujets pouvant, conformément à cet ordre du jour, être soumis à l’assemblée. |
III. The special proxy holder has the power to, in the name of and on behalf of the undersigned, sign all attendance lists and minutes, participate in all deliberations, vote with respect to all decisions or items that can, pursuant to this agenda, be presented to said meetings. |
IV. Le mandataire spécial est autorisé, en général, à faire tout ce qui semble nécessaire et/ou utile pour exercer cette procuration. |
IV. In general, the special proxy holder has the power to do all that appears necessary and/or useful for the exercise of this proxy. |
Le/la soussigné(e) ratifie et approuve par la présente tous les actes accomplis par le mandataire spécial susmentionné. Le mandataire spécial votera pour le compte du/de la soussigné(s) conformément aux instructions spécifiques données ci-dessus. |
The undersigned hereby ratifies and approves all acts carried out by the aforementioned proxy holder. The special proxy holder will vote on behalf of the undersigned in accordance with the specific instructions given above. |
La présente procuration vaut également notification conformément aux formalités décrites dans l’invitation aux assemblées générales ordinaire et extraordinaire des actionnaires de la Société à tenir le jeudi 28 mai 2026, à condition qu’elle soit dûment complétée par le soussigné et reçue par la Société au plus tard à la Date limite de Notification. |
The present proxy shall also serve as notification in accordance with the formalities described in the notice convening the ordinary and extraordinary general shareholders’ meetings of the Company to be held on Thursday, May 28, 2026, provided it is duly completed by the undersigned and received by the Company at the latest on the Notification Deadline. |
Le soussigné confirme que la traduction anglaise de la présente procuration n’est qu’une traduction libre en anglais et à titre informatif uniquement, et que la version française prévaut sur la version anglaise. |
The undersigned confirms that the English translation of the present proxy is a free English translation and for information purposes only, and that the French version shall prevail over the English version. |
| BON POUR PROCURATION | GOOD FOR PROXY |
...........................................2026
(date)
...............................................................................................
(nom / name)
...............................................................................................
(signature)
| Assemblée Générale Ordinaire et Extraordinaire des Actionnaires de MDxHealth SA - Procuration | |
| Ordinary and Extraordinary General Shareholders' Meetings of MDxHealth SA - Proxy | 18/18 |
Exhibit 99.4
Free English translation - For information purposes only
Free English translation
This
English version of the 2026 Share Option Plan of MDxHealth SA is a free translation of the
original French version. In case of discrepancies between the original French version and this English
version, the original French version shall prevail.
2026
SHARE OPTION PLAN
MDXHEALTH SA
MDxHealth
SA • Rue d’Abhooz 31 - CAP Business Center, 4040 Herstal, Belgium
www.mdxhealth.com •TVA BE 0479.292.440 RPM (Liège)
Free English translation - For information purposes only
ARTICLE 1 – PURPOSE OF THE PLAN
This 2026 Share Option Plan (the “Plan”) describes the general terms and conditions of the Share Options that the Company may grant to the Selected Participants.
The aim of the Plan is to realize the following corporate and human resources goals:
| (i) | encourage, motivate and retain the Selected Participants; |
| (ii) | enable the Company and its Subsidiaries to attract and retain Personnel with the required experience and skills; and |
| (iii) | link the interests of the Selected Participants closer to the interests of the shareholders of the Company by giving them the opportunity to share in the increase of the value of the Company. |
ARTICLE 2 – DEFINITIONS AND INTERPRETATION
The following terms shall have the following meaning for the purpose of the Plan:
| Belgian Companies and Associations Code | the Belgian Companies and Associations Code of 23 March 2019 (as amended from time to time). | |
| Beneficiary | With respect to a natural person, a person validly designated by the Selected Participant, being either the Selected Participant’s spouse, or the cohabiting partner, or legal heirs, in order to exercise the rights of the Selected Participant under the Plan after the death of the Selected Participant. Designation, revocation and re-designation of a Beneficiary must be done in writing in accordance with the applicable law. In the absence of any valid designation, the heirs of the Selected Participant in accordance with the applicable law of inheritance shall be deemed to be the Beneficiary. In the event that there are several heirs, all heirs acting jointly or one person designated by all heirs acting jointly shall be deemed to be the Beneficiary. | |
| Board of Directors | The board of directors of the Company. | |
| Business Day | A day on which banks are open for business in Belgium and the United States of America, excluding Saturdays and Sundays. | |
| Change of Control | A Change of Control shall be deemed to have occurred if (i) any “person” or “group” (within the meaning of Rule 13d-5 of the U.S. Securities Exchange Act of 1934, as amended), shall acquire, directly or indirectly, beneficially or of record, determined on a fully diluted basis, more than 35% of the securities or interests of any class or kind ordinarily having the power to vote for the election of Directors of the Company, (ii) a majority of the mandates (other than vacant mandates) on the Board of Directors shall be taken by persons whose nomination as Director of the Company (A) was not proposed to the general shareholders’ meeting of the Company by (a majority of) the Board of Directors, or (B) was not supported or approved by (a majority of) the Board of Directors, or (iii) any person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (A) a transfer of assets to an entity that is directly or indirectly controlled by the Company’s shareholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a shareholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Shares, (2) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, or (3) a person that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding Shares. For purposes of the foregoing, gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. |
1
| Company | MDxHealth SA, a company established under Belgian law, having its registered office at Rue d’Abhooz 31 - Cap Business Center, 4040 Herstal, Belgium, registered with the register of legal persons under number 0479.292.440. | |
| Control | The possibility de facto or de jure to exercise a decisive influence over the appointment of the majority of the members of the Board of Directors or the general orientation of the Company’s governance, as determined in articles 1:14 and following of the Belgian Companies and Associations Code. | |
| Date of Grant | The date on which the offer of the Share Options to a Selected Participant is made. | |
| Date of Issuance | The date on which the Share Options will be issued pursuant to a resolution of an extraordinary general shareholders’ meeting held on May 28, 2026, or in case of absence of the required attendance quorum at such meeting, on June 25, 2026. | |
| Date of Termination of the Selected Participant’s Director’s mandate, employment agreement, management agreement or similar agreement | The effective date of termination of the Selected Participant’s Director’s mandate, employment agreement, management agreement or similar agreement for whatever reason, with the exception of a termination of a management agreement immediately followed by the signing of an employment agreement, a new management agreement or a similar agreement with the Company or a Subsidiary, a termination of an employment agreement immediately followed by the signing of a new employment agreement, management agreement or similar agreement with the Company or a Subsidiary, and the termination of a Director’s mandate immediately followed by the re- appointment as Director. | |
| Director | A member of the Board of Directors or the board of directors of a Subsidiary. | |
| Exercise Period | The period during which the Selected Participant can exercise the Share Options granted to him/her, provided and to the extent that the Share Options are exercisable in accordance with the conditions set forth in the Plan and in any other arrangement that may exist between the Selected Participant and the Company. |
2
| Exercise Price | The price, determined by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, at which each Share subject to a Share Option may be acquired/subscribed for upon the exercise of that Share Option. | |
| Notification | A written letter sent to the official domicile or registered office of the addressee by means of (i) a courier with notice of receipt, (ii) a registered letter or (iii) an e-mail sent to the addressee’s e-mail address. The date of the Notification is: (i) the date of signing for receipt, or (ii), in the absence thereof, the postmarked date of the registered letter, or (iii) the date of sending of the e-mail, provided that the e-mail was sent to the correct e-mail address of the addressee. | |
| Personnel | An individual who is a member of the personnel of the Company or a Subsidiary as defined under article 1:27 of the Belgian Companies and Associations Code. | |
| Plan | The present 2026 Share Option Plan. | |
| Selected Participant(s) | Any Personnel to whom Share Options will be granted pursuant to, or under, this Plan. | |
| Share | A share of the Company, representing the share capital of the Company. | |
| Share Option | A subscription right issued by the Company entitling the Selected Participant to acquire/subscribe for one (1) Share pursuant to the Plan during a certain period at a certain price. | |
| Share Option Price | The price, if any, which the Selected Participant owes to the Company for the acquisition of the Share Option itself. | |
| Subsidiary | Any company or organization which is directly or indirectly under the Control of the Company. | |
| Transfer – Transferring | Any transaction under living persons which has as its purpose the sale, acquisition, granting or accepting of options, exchange, waiver, contribution to a company, transfer in any manner whether or not for consideration, the giving of payment or pledge, or the acceptance of payment or pledge, or generally any agreement which has as its object an immediate or future transfer of title. | |
| Vested Share Options | Share Options that have become definitely acquired by the Selected Participant in accordance with the conditions set forth in the Plan, without prejudice to the possibility that the Share Options become void in cases where they are not exercised or can no longer be exercised pursuant to Plan. |
3
Except insofar as the context otherwise requires, (i) words denoting the singular shall include the plural and vice versa and (ii) words denoting the masculine gender shall include the feminine gender and vice versa.
ARTICLE 3 - TYPE AND NUMBER OF SHARE OPTIONS
The total number of Share Options issued under the Plan is of three million (3,000,000). All of such Share Options may be incentive stock options within the meaning of Section 422 of the U.S. Internal Revenue Code of 1986, as amended. Only Personnel who are employees subject to U.S. taxation as of the applicable Date of Grant are eligible to receive such incentive stock options.
Each Share Option shall entitle a Selected Participant to acquire one (1) Share.
The new Shares to be issued at the occasion of the exercise of the Share Options shall have the same rights and benefits as, and rank pari passu in all respects, including with respect to entitlements to distributions and dividends, with the existing and outstanding Shares of the Company at the time of their issuance. They will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of issue of the new Shares.
A new Share shall represent the same fraction of the capital of the Company as the other outstanding Shares of the Company at that moment.
ARTICLE 4 - ADMINISTRATION
The Board of Directors shall administer the Plan. The Board of Directors shall have the possibility to delegate its powers or certain of its powers to certain persons of the management and/or to certain committees that may be established by the Board of Directors, in compliance with the Belgian Companies and Associations Code and the Company’s internal governance rules.
Subject to the provisions of the Plan and in as far as the decisions are in line with the purpose of the Plan, the Board of Directors, or any other committee created or person appointed by the Board of Directors, is entitled to determine, define and interpret all rules, regulations or other measures required or desirable for the administration of the Plan. The Board of Directors may terminate the Plan at any time. Share Options granted prior to such termination shall remain valid and exercisable in accordance with the Plan.
ARTICLE 5 - CONDITIONS OF THE SHARE OPTIONS
5.1 Share Option Price
Except where the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, decides otherwise, on a one-to-one basis, the Selected Participant shall owe no Share Option Price to the Company upon subscription for, or acceptance of, the Share Options.
Should a Share Option Price be due, it would be recorded as an issue premium. This issue premium would be booked as a liability on the Company’s balance sheet under its equity, and the account to which the issue premium would be booked would serve, in the same way as the share capital, as a guarantee for third parties, and may only be reduced on the basis of a valid resolution of the general shareholders’ meeting passed in the manner required for an amendment to the Company’s articles of association.
4
5.2 Exercise Price
The Exercise Price of a Share Option shall be determined by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, on the Date of the Grant thereof. Unless determined otherwise by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, prior to, at, or after the Date of Grant, the Exercise Price shall not be lower than the lower of (i) the price of the Shares on the stock market on which the Shares are listed and traded on the day prior to the Date of Grant (should the Shares or securities be listed on the Nasdaq, the Nasdaq must be used as market of reference), and (ii) the average price of the Shares on the relevant stock market on which the Shares are listed and traded during the period of 30 days preceding the Date of Grant of the relevant Share Option (should the Shares or securities be listed on the Nasdaq, the Nasdaq must be used as market of reference).
Upon exercise of Share Options and issue of new shares, the aggregate amount of the Exercise Price of the Share Options shall be allocated to the share capital of the Company. To the extent that the amount of the Exercise Price of the Share Option, per Share to be issued upon exercise of the Share Option, would exceed the fractional value of the existing shares of the Company immediately prior to the issue of the new Shares concerned, a part of the Exercise Price, per Share to be issued upon exercise of the Share Option equal to such fractional value, shall be booked as share capital, whereby the balance shall be booked as issue premium. In accordance with article 7:178 of the Belgian Companies and Associations Code, following the capital increase and issuance of new Shares, each new and existing Share shall represent the same fraction of the share capital of the Company.
Upon exercise of Share Options:
| ● | should the Company’s share capital be expressed in euro currency and the aggregate amount of the Exercise Price of such Share Options exercise be paid by the relevant Selected Participant (or its Beneficiary, as the case may be) in US dollars, the amount equal to the relevant aggregate Exercise Price for such Share Options exercise shall be converted into euro on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank (“ECB”) on https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/ html/index.en.html (or such other relevant website of the ECB) (the “Exchange Rate”) on the second Business Day preceding the date of the relevant notarial deed in which the issuance of the relevant new Shares and the corresponding capital increase are established, and whereby the final amount in euro will be rounded down to the nearest two decimals; and |
| ● | should the Company’s share capital be expressed in US dollar currency and the aggregate amount of the Exercise Price of such Share Options exercise be paid by the relevant Selected Participant (or its Beneficiary, as the case may be) in euro, the amount equal to the relevant aggregate Exercise Price for such Share Options exercise shall be converted into US dollar on the basis of the relevant USD/EUR exchange ratio as shall be published by the ECB on https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/ html/index.en.html (or such other relevant website of the ECB) (the “Exchange Rate”) on the second Business Day preceding the date of the relevant notarial deed in which the issuance of the relevant new Shares and the corresponding capital increase are established, and whereby the final amount in US dollar will be rounded down to the nearest two decimals. |
5
5.3 Term (duration) of the Share Options
The duration of a Share Option shall be ten (10) years as of its Date of Issuance. However, the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, shall have the right to shorten this term. Unless a shorter term is provided by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, a Share Option is therefore (in any event) automatically null, void and of no value at 24:00 (midnight) CET on the tenth (10th) anniversary date of the Date of Issuance.
5.4 Registered nature
The Share Options are and shall remain registered, and shall be entered in the register of subscription right holders that shall be held at the registered office of the Company. The Company shall deliver to each Selected Participant and Beneficiary, free of charge, a certificate confirming that the Participant or Beneficiary is duly registered in the register of subscription right holders as owner of the Share Options.
5.5 Rights as a shareholder
The Selected Participant (in the Selected Participant’s capacity as holder of a Share Option) is not a shareholder of the Company, nor shall the Selected Participant have any rights or privileges, which as a rule belong to a shareholder of the Company, as long as the Share Options held by the Selected Participant have not been exercised.
ARTICLE 6 – TRANSFER OF THE SHARE OPTIONS
6.1 Decease
In case the holder of a Share Option is a natural person, the following will apply: in the event of the decease of a Selected Participant, all Share Options (including the Vested Share Options at the time of decease) shall be transferred to the Beneficiary of the Selected Participant and shall be (or remain as far as the Vested Share Options are concerned) exercisable at the time and under the terms established in this Plan.
6.2 Transferability of the Share Options
Except for the transfer contemplated under article 6.1 above and except if the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, were to allow a Transfer of the Share Options, the Share Options cannot be Transferred by a Selected Participant once they have been granted to a Selected Participant.
ARTICLE 7 - EXERCISE OF THE SHARE OPTIONS
Share Options can only be exercised during an Exercise Period (as specified in article 7.2 below) provided and to the extent that they have become Vested Share Options and have become exercisable (in accordance with article 7.1 below) prior to or during a certain Exercise Period.
7.1 Vesting and exercisability of the Share Options
The vesting schedule of a Share Option, i.e. the dates and conditions upon which it shall become a Vested Share Option, shall be as set forth in this Plan, except where, for Share Options granted to Selected Participants in any capacity other than the capacity of non-executive Director of the Company, the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, determines otherwise and, for Share Options granted to Selected Participants in their capacity of non-executive Director of the Company, the general shareholders’ meeting determines otherwise. The vesting schedule and the period before a Share Option can become exercisable can therefore be shorter than the periods as referred to below in this article 7.1.
6
7.1.1 General vesting mechanism of the Share Options
Unless otherwise determined by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, the Share Options subscribed for by a Selected Participant in any capacity other than the capacity of non-executive Director of the Company shall vest, i.e. become Vested Share Options, in installments of twenty-five percent (25%) per year during a period of four (4) years as of the Date of Grant, as follows:
| ● | on the first anniversary date of the Date of Grant: 25%; |
| ● | during the second year from the Date of Grant: maximum 25%, i.e. maximum 50% in total over the first two years after the Date of Grant; |
| ● | during the third year from the Date of Grant: maximum 25%, i.e. maximum 75% in total over the first three years after the Date of Grant; |
| ● | as from the fourth year from the Date of Grant: 25%, i.e. maximum 100% in total over the first four years after the Date of Grant. |
During the second, the third, and the fourth years after the Date of Grant, the Share Options subscribed for by a Selected Participant in any capacity other than the capacity of non-executive Director of the Company shall vest pro rata temporis on a quarterly basis, i.e. for a number that bears the same proportion to the maximum number of Share Options that can vest during that period as the number of (full) quarters that have passed during said given period bears to the total number of quarters of that period. For example, one year and seven months after the Date of Grant, a maximum of 37.5% of the Share Options granted to a Selected Participant could be Vested Share Options.
The Share Options granted to a non-executive Director of the Company shall all vest, i.e. become Vested Share Options, on the date of the ordinary shareholders’ meeting that takes place in the calendar year following the calendar year where the Share Options were granted, provided that on the date preceding the date of the former ordinary shareholders’ meeting the mandate of such non-executive Director of the Company has not terminated (without prejudice to section 7.1.3 of the Plan).
Notwithstanding the foregoing, all Share Options subscribed for by a Selected Participant shall automatically vest (if not yet vested) and become Vested Share Options in the event of a Change of Control over the Company.
7.1.2 Exercisability of the Share Options
The Selected Participants are allowed to exercise any Vested Share Options during any Exercise Period as of and from the moment where such Share Options became Vested Share Options. The rules set forth in section 7.1.3. below however prevail over the rules set forth in this section 7.1.2.
7
7.1.3 Consequences of termination of a Director’s mandate, employment agreement, management agreement or similar agreement
Without prejudice to the provisions of the following paragraphs and unless otherwise determined by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, when (i) the Director’s mandate of a Selected Participant is terminated for other reasons than for breach of his/her duties as a Director, (ii) the employment agreement of a Selected Participant is terminated for other reason than for serious cause, or (iii) management or similar agreement of the Selected Participant is terminated for other reasons than breach of said agreement, in each such case the Selected Participant may exercise all his/her Share Options that have become Vested Share Options at the Date of Termination of the Selected Participant’s Director’s mandate, employment agreement, management agreement or similar agreement, as relevant, at the time and in accordance with the conditions set forth in the Plan, within a period of one year as from the Date of Termination of the Director’s mandate, employment agreement, management agreement or similar agreement.
Unless otherwise determined by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, the Vested Share Options that are not exercised within the period referred to in the previous paragraph shall automatically lapse and become null and void. The Share Options that have not become Vested Share Options at the Date of Termination of the Selected Participant’s Director’s mandate, employment agreement, management agreement or similar agreement, as relevant, automatically lapse and become null and void.
Upon termination of (i) the Director’s mandate of the Selected Participant for breach of his/her duties as a Director, (ii) the employment agreement of the Selected Participant for serious cause, or (iii) management or similar agreement of the Selected Participant for breach of said agreement, all Share Options granted to the Selected Participant shall, unless determined otherwise by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, whether vested or not, automatically become definitely non-exercisable as from the Date of Termination of the Selected Participant’s Director’s mandate, employment agreement, management agreement or similar agreement, as relevant.
7.1.4 Consequences of legal retirement, disability or serious disease
In case the holder of a Share Option is a natural person, the following will apply: in the event of termination of the Director’s mandate, employment agreement, management agreement or similar agreement of the Selected Participant, as relevant, as a consequence of legal retirement, disability or serious disease, the (at that time) Vested Share Options shall remain exercisable for the remaining term of the Share Options pursuant to the terms and conditions set forth in the Plan.
7.2 Exercise Period
Vested Share Options can only be exercised during the following periods: during the term of the Share Options, between 1 March and 31 March, and between 1 September and 30 September. Each Exercise Period shall close on the last Business Day of the particular Exercise Period.
The Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, may, however, in its absolute discretion, provide for additional Exercise Periods and do so for instance in case of a Change of Control over the Company (e.g., in case all Share Options automatically vest in accordance with 7.1.1 in fine above).
8
7.3 Partial exercise
A Selected Participant may exercise all or part of his/her Vested Share Options. However, it is not possible to exercise a Share Option with respect to fractions of Shares.
7.4 Exercise procedure
A Share Option shall be deemed to have been exercised upon receipt by the Company, at the latest on the last Business Day of the Exercise Period, of:
| (i) | a Notification signed by the Selected Participant stating that a Share Option or a specified number of Share Options is exercised; |
| (ii) | evidence of complete payment of the Exercise Price, within thirty (30) calendar days following the last Business Day of the Exercise Period in which the Share Options were exercised, for the number of Shares as indicated in the Notification provided sub (i), by bank transfer to a blocked account of the Company whose number is communicated by the Company; |
| (iii) | in the event that a Share Option is exercised by a person or persons other than the Selected Participant, suitable proof of the right of this person or these persons to exercise the Share Option; and |
| (iv) | Any and all statements and documents, which the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, deems desirable or necessary in order to comply with all applicable legal and regulatory provisions, and the submission of which the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, consequently requests. |
7.5 Conditions for the issuance of Shares
| 7.5.1 | The Company shall only be obliged to issue the Shares as a result of the exercise of the Share Options, by registration in the Company’s share register or any other manner prescribed by the Belgian Companies and Associations Code, after all of the preceding conditions set forth in article 7.4 have been fulfilled and following the completion of the capital increase mentioned below. |
| 7.5.2 | The Board of Directors, or one member thereof or any other person specifically delegated for such purpose, shall, in accordance with article 7:187 of the Belgian Companies and Associations Code (or any other provision having the same purport), have the capital increase resulting from the exercise of the Share Options, and the fully paid in Shares thus subscribed for, recorded before a notary public within sixty (60) days after the closing of the Exercise Period in which the Share Options were exercised. |
| 7.5.3 | If, at the time of exercise of the Share Options, the Shares are admitted to listing and/or trading on the Nasdaq, another stock market or another trading platform, the Company shall use reasonable efforts in order to take such actions and make such filings as shall be necessary to have the Shares that are issued upon exercise of the relevant Share Options admitted to listing and/or trading on the Nasdaq, such other stock market or such other trading platform under the timeline as shall be decided by the Board of Directors. |
| 7.5.4. | The Company may at its discretion postpone the delivery of the Shares, if this is necessary in order to comply with the applicable regulations or provisions of whatever nature, including but not limited to public offer, registration and other obligations with respect to the Shares of the Company, as the Company deems appropriate. |
9
ARTICLE 8 – CHANGE IN THE CAPITAL STRUCTURE OF THE COMPANY – EXERCISE OF THE SHARE OPTIONS BY VIRTUE OF LAW
8.1 Change in the capital structure of the Company
Contrary to article 7:71 of the Belgian Companies and Associations Code, the Company explicitly reserves the right to take all possible decisions and to enter into all possible transactions that may have an impact on its capital, on the distribution of profits or on the distribution of liquidation proceeds or that may otherwise affect the rights of the Selected Participants.
Should the rights of the Selected Participant be affected by such decision or transaction, then the Selected Participant shall not be entitled to a change of the Exercise Price, a change of the exercise conditions or any other form of (financial or other) compensation, unless such a decision or transaction would have as its main purpose to prejudice the rights of the holders of the Share Options.
In case of a merger, de-merger or share split of the Company, the rights attached to the outstanding Share Options and/or Exercise Price of the Share Options shall be adapted in accordance with the conversion ratios applied at the occasion of the merger, de-merger or share split to the other shareholders.
8.2 Exercise of the Share Options by virtue of law
If a Share Option which is not exercisable or which cannot be exercised pursuant to the issuance conditions (as determined in this Plan) becomes prematurely exercisable on the basis of article 7:71 of the Belgian Companies and Associations Code and is also exercised pursuant to said article, the Shares obtained by exercising the Share Option shall not be transferable, unless explicitly agreed upon by the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, until the time the underlying Share Options would have become exercisable in accordance with the Plan.
ARTICLE 9 – MISCELLANEOUS
9.1 Taxes and social security
The Company or a Subsidiary shall be entitled, in accordance with the applicable law or practice, to withhold from any cash payment made to a Selected Participant, and/or the Selected Participant shall be obliged to pay to the Company or to a Subsidiary (if requested for by the Company or a Subsidiary), the amount of any tax and/or social security contributions, if any, attributable to or payable in connection with the grant, vesting or exercise of any Share Options or attributable to or payable in connection with the delivery of the Shares.
The Company or a Subsidiary shall also be entitled, in accordance with the applicable law or practice, to make the necessary reporting, required as a result of the grant of Share Options, their vesting, their exercisability or the delivery of the Shares.
9.2 Costs
Stamp duties and other similar duties or taxes levied upon exercise of the Share Options and/or the delivery of the new Shares shall be borne by the Selected Participant.
Costs related to the capital increase that shall take place upon the exercise of the Share Options shall be borne by the Company.
10
9.3 Applicable law and competent courts
Belgian law governs the Plan. Disputes shall fall under the exclusive jurisdiction of the courts and tribunals of the jurisdiction where the Company has its registered office.
Share Options subscribed for in the framework of this Plan shall be governed by and construed in accordance with the laws of Belgium.
9.4 Notifications
Each Notification to a Selected Participant shall be made to the address mentioned in the register of subscription rights holders or the relevant notice details as set out in the agreement between the Company and the Selected Participant pursuant to which the Share Options were granted. Each Notification to the Company, a Subsidiary or the Board of Directors, or any other committee created or person appointed by the Board of Directors in accordance with article 4, shall be validly made to the address of the registered office of the Company. Address changes must be communicated in accordance with this provision.
9.5 Relation to Selected Participant’s agreement
Notwithstanding any provision of the plan, the rights and obligations of a Selected Participant as determined under the terms of the Selected Participant’s employment agreement or management agreement or similar agreement with the Company or any Subsidiary shall not be affected by the Selected Participant’s participation in the Plan or by any right that the Selected Participant may have to participate therein. A Selected Participant who subscribes for Share Options pursuant to the Plan shall have no rights to compensation or damages in consequence of the termination of the Selected Participant’s employment agreement, or management agreement or similar agreement with the Company or a Subsidiary for any reason whatsoever, insofar as those rights arise or may arise from the termination of the rights which the Selected Participant would have or of the claims which the Selected Participant could make relating to the exercise of the Share Options under the Plan as a result of the termination of such Selected Participant’s employment agreement, or management agreement or similar agreement, or from the loss or reduction in value of the rights or advantages.
11
Exhibit 99.5
NEITHER THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “US SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE US SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE US SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.
Mdxhealth
Limited Liability Company
Registered office: CAP Business Center, Zone Industrielle des Hauts-Sarts
Rue d’Abhooz 31, 4040 Herstal, Belgium
VAT BE 0479.292.440 Register of Legal Entities Liège, division Liège
2026 Exact sciences Warrants
Terms and Conditions
The present terms and conditions (hereinafter referred to as the “Conditions”) contain the issue and exercise conditions of the subscription rights, named “2026 Exact Sciences Warrants” (the “Warrants”), issued by MDxHealth SA, a limited liability company (société anonyme) organized and existing under the laws of Belgium, with registered office at CAP Business Center, Zone Industrielle des Hauts-Sarts, Rue d’Abhooz 31, 4040 Herstal, Belgium, registered with the register for legal entities (registre des personnes morales) under number 0479.292.440 (RLP Liège, division Liège) (the “Company”) on [●], 2026 (the “Issue Date”) following the fourth amendment to the asset purchase agreement entered by and between the Company and Genomic Health, Inc. (“Exact Sciences”) on August 2, 2022, pursuant to which, among other things and subject to the terms and conditions included in the asset purchase agreement, Exact Sciences agreed to sell and assign, and the Company agreed to purchase and assume, the business of developing, marketing and performing the Oncotype DX Genomic Prostate Score test.
Subject to, and in accordance with, the terms and conditions set forth in the Conditions:
| Warrants issued: | 3,000,000 Warrants |
| Shares per Warrant: | each Warrant confers the right (but not the obligation) on the Holder thereof (as defined below) to subscribe, upon exercise of the Warrant, for one (1) new Share of the Company (as defined below) (as may be adjusted and/or substituted pursuant to section 6 of the Conditions) to be issued by the Company against payment in cash of the Exercise Price. |
| Exercise Price: | USD 5.265 per Warrant (as may be adjusted pursuant to section 6 of the Conditions) (the “Exercise Price”). |
| Term: | The Warrants have a term (the “Term”) ending on (and including) 18:00 hours on January 8, 2031 (the “Expiration Date”). |
| 1. | Certain Definitions and Interpretation |
| 1.1. | Certain definitions: In these Conditions, the following words and expressions that are not defined elsewhere in these Conditions shall have the following meanings, save where the context requires otherwise: |
“Affiliate” means, when used with respect to a Person, any Person that controls, is controlled by or is under common control with such Person, for so long as such control exists. For the purposes of this definition, the word “control” (including, with correlative meaning, the terms “controlled by” or “under the common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of more than fifty percent (50%) of the voting shares of such entity, or by contract or otherwise.
“Belgian Companies and Associations Code” means the Belgian Companies and Associations Code of 23 March 2019, as amended from time to time, and the rules and regulations promulgated thereunder.
“Business Day” means a day on which banks are generally open for business in Brussels (Belgium) and New York (United-States), excluding Saturdays and Sundays.
“Holder” means a Person from time to time who entered in the warrant register of the Company as a holder of one or more Warrants.
“Person” means any individual or natural person, any legal entity with separate legal personality, partnership, joint venture, (joint share) corporation, association, limited liability company, trust, unincorporated organization, or any governmental entity (or any department, agency or political subdivision thereof).
“Trading Day” means any day on which the Shares are traded on the Nasdaq Capital Market, or, if the Nasdaq Capital Market is not the principal trading market for the Shares, then on the principal securities exchange or securities market on which the Shares are then traded.
“Share” means any ordinary share (aandeel / action) outstanding from time to time representing the Company’s share capital.
| 1.2. | Headings: Headings used in these Conditions are for convenience purposes only and shall not affect the construction or interpretation of these Conditions. |
| 1.3. | Meaning of references: Unless the context does not so permit, or save where specifically indicated otherwise: |
| (a) | references to articles are to sections in these Conditions, and references to sub-sections or paragraphs are to sub-sections or paragraphs of the section in which such references appear; |
| (b) | references to Schedules are references to the schedules to these Conditions; |
| (c) | the words “herein”, “hereof”, “hereunder”, “hereby”, “hereto”, “herewith” and words of similar import shall refer to these Conditions as a whole and not to any particular section, paragraph or other subdivision; |
| (d) | references to the word “include” or “including” (or any similar term) are not to be construed as implying any limitation, and general words introduced by the word “other” (or any similar term) shall not be given a restrictive meaning by reason of the fact that they are preceded by words indicating a particular class of acts, matters or things; |
2
| (e) | any reference to “writing” or “written” includes any method of reproducing words or text in a legible and non-transitory form and shall also include e-mail; |
| (f) | references to any statute, regulation or statutory provision shall be deemed to include reference to any statute, regulation or statutory instrument which amends, extends, consolidates or replaces the same (or shall have done so) and to any other regulation, statutory instrument or other subordinate legislation made thereunder or pursuant thereto, provided that no such reference shall include any amendment, extension or replacement of the same with retrospective effect; |
| (g) | all periods of time set out herein shall be calculated from midnight to midnight local time in Brussels, Belgium. They shall start on the day following the day on which the event triggering the relevant period of time has occurred. The expiration date shall be included in the period of time. If the expiration date is not a Business Day, it shall be postponed until the next Business Day. Unless otherwise provided herein, all periods of time shall be calculated in calendar days. All periods of time consisting of a number of months (or years) shall be calculated from the day in the month (or year) when the triggering event has occurred until the eve of the same day in the following month(s) (or year(s)) (“van de zoveelste tot de dag vóór de zoveelste” / “de quantième à veille de quantième”). |
| 1.4. | Fractional value: For the purpose of these Conditions, the fractional value (fractiewaarde / pair comptable) of the Company’s Shares from time to time shall be determined as a fraction, (a) the numerator of which is the amount of the Company’s share capital at that time, and (b) the denominator of which is the aggregate number of actually issued and outstanding Shares of the Company at that time. |
| 1.5. | Language: The Conditions were drawn up in English, after which a French translation was prepared. In the case of discrepancies between the English and the French version, the English version shall prevail between the parties hereto to the fullest extent possible and permitted by Belgian law. Notwithstanding the foregoing, Belgian legal concepts which are expressed in English language terms, are to be interpreted in accordance with the Belgian legal terms to which they refer, and the use herein of French and/or Dutch words in these Conditions as translation for certain words or concepts shall be conclusive in the determination of the relevant legal concept under Belgian law of the words or concepts that are so translated herein. |
| 2. | Nature and Form of the Warrant |
| 2.1. | Nature of the Warrants: Each Warrant has been issued in the form of one subscription right (inschrijvingsrecht / droit de souscription), subject to the terms of these Conditions, which are binding upon the Company and each Holder. A total of three million (3,000,000) Warrants has been issued. |
| 2.2. | Subscription right: Subject to, and in accordance with, the terms and conditions set forth in these Conditions, each Warrant confers the right (but not the obligation) on the Holder thereof to subscribe, upon exercise of the Warrant, for one (1) new Share to be issued by the Company (as may be adjusted and/or substituted pursuant to section 6 of the Conditions) against payment in cash of the Exercise Price of the Warrant (as may be adjusted pursuant to section 6 of the Conditions). |
3
| 2.3. | No shareholder rights: The Holder of a Warrant is not a shareholder of the Company solely by virtue of holding the Warrant, and therefore does not have the rights of a shareholder in relation to the Shares to be issued or delivered to the holder of the Warrant upon an exercise of the Warrant until the exercise of the Warrant and the issue and delivery of the relevant Shares. A Holder will, however, have the right to attend general shareholders’ meetings of the Company to the extent permitted by applicable law. |
| 2.4. | Form: The Warrants are in registered form. In accordance with applicable law, the ownership and rights to a Warrant is recorded in a warrant register book, which is kept at the registered office of the Company. The Warrants cannot be converted into a bearer instrument or in dematerialized form. At the request of a Holder, the Company shall confirm in writing the number of Warrants held by such Holder by means of a confirmation substantially in the form of Schedule 1. |
| 2.5. | No listing: The Warrant shall not be listed at any time on a securities exchange, regulated market, multilateral trading facility or similar securities market. |
| 2.6. | Transferability of the Warrant: Except if the Company were to explicitly allow a transfer of the Warrants, the Warrants cannot be transferred by a Holder. |
| 3. | Term of the Warrant |
The Warrants have a Term starting as from their issuance and ending on (and including) 18:00 hours on the Expiration Date. A Warrant automatically expires and becomes invalid (caduque) by operation of law on 18:00 hours on the Expiration Date, unless it is exercised prior to such time by the Holder thereof in accordance with the terms and conditions set forth in these Conditions.
| 4. | Shares issuable upon exercise of the Warrants |
The Shares to be issued upon each exercise of the Warrants shall have the same rights and benefits as, and rank pari passu in all respects including as to entitlement to dividends and other distributions, with the existing and outstanding Shares at the moment of their issue and will be entitled to dividends and other distributions in respect of which the relevant record date or due date falls on or after the date of their issue.
| 5. | Exercise of the Warrants |
| 5.1. | Right to exercise: Each Warrant can be exercised at any time as from [●], 2026 until the expiry of the Term, provided that a number of Warrants with an aggregate Exercise Price of at least USD 500,000 are exercised by the Holder. The exercise of a Warrant following the Expiration Date shall be considered void. |
| 5.2. | Limitations on exercises. To the extent any Warrant is not exercised earlier, such Warrant will lapse and terminate immediately at 18:00 hours on the Expiration Date, without further notice, and the rights to exercise the Warrants shall be of no further force or effect whatsoever thereafter. |
| 5.3. | Exercise Notice: The Warrants can only be exercised by means of a duly completed and signed written notice substantially in the form of Schedule 2 (the “Exercise Notice”). The Exercise Notice must be served on the Company in accordance with the provisions of section 9.4. The date on which the Exercise Notice shall have been served (or be deemed served) on the Company pursuant to section 9.4 shall be the exercise date of the relevant Warrants (the “Exercise Date”). The Exercise Date must fall within the Term. |
4
| 5.4. | Payment of the Exercise Price: Upon the exercise of a Warrant, the applicable Exercise Price must be paid in cash by means of a wire transfer of such amount in immediately available funds in USD to the special account of the Company that shall be notified by the Company to the Holder of the Warrant (the “Exercise Account”). The Company shall, as promptly as practicable and in any event no later than one (1) Business Day after the Exercise Date of a Warrant, notify the Holder of the Warrant of the details of the relevant Exercise Account via email to the address mentioned in the Exercise Account. If the applicable Exercise Price of a Warrant is not paid in accordance with the foregoing provisions and received by the Company on the Exercise Account prior to 16:00 hours on the third (3rd) Business Day following the Exercise Date, the Warrant shall be deemed not to have been exercised. Should the Company’s share capital be expressed in euro in the Company’s articles of association, for the purpose of the capital increase and the amendment of the Company’s articles of association resulting from the exercise of Warrants, the amount equal to the relevant aggregate Exercise Price for such Warrants exercise shall be converted into euro on the basis of the relevant USD/EUR exchange ratio as shall be published by the European Central Bank (“ECB”) on https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html (or such other relevant website of the ECB) (the “Exchange Rate”) on the second (2nd) Business Day preceding the date of the relevant notarial deed in which the issuance of the relevant new Shares and the corresponding capital increase are established (or such other reference date designated in prior notice by the Company from time to time to the relevant Holder, as the case may be), and whereby the final amount in euro will be rounded down to the nearest two decimals. |
| 5.5. | No exercise for fractions of Shares: The Warrants can only be exercised for a whole number of Shares, and not with respect to fractions of Shares. If as a result of an adjustment pursuant to section 6 of the Conditions a Warrant were to give the right to subscribe for a fraction of a Share, the Warrants can be exercised in an aggregated manner by the Holder thereof in such a manner that the number of Shares issuable upon exercise of the Warrants concerned (including the relevant fractions of a Share) shall be aggregated, but rounded down to the nearest whole number of Shares. |
| 5.6. | Issue and delivery of the Shares: The Company shall only be obliged to issue Shares upon an exercise of a Warrant provided that (a) the exercise complies with sections 5.1 and 5.2, (b) the relevant Exercise Notice has been served upon the Company in accordance with section 5.3, and (c) the applicable aggregate Exercise Price has been paid in accordance with the provisions of section 5.4. Subject to the foregoing, the Company shall issue and deliver the relevant Shares as soon as practicable, but in any event no later than 18:00 hours on the fourteenth (14th) Business Day after the Exercise Date (the “Delivery Date”). |
| 5.7. | Form of the Shares: The Shares to be delivered upon the exercise of the Warrants shall be delivered in registered form and recorded in the component of the Company’s share register that is maintained in the United States with the Company’s transfer agent and registrar in the United States, as the case may be in accordance with the delivery instructions set out in the Exercise Notice. It shall be sufficient that the relevant form(s) shall have been duly and validly completed and submitted by the Company with the Company’s transfer agent and registrar in the United States, as the case may be in accordance with delivery instructions set out in the Exercise Notice, by 18:00 hours on the Delivery Date, for delivery of the relevant Shares. Due and valid completion and submission of the aforementioned form(s), as the case may be in accordance with delivery instructions so given shall qualify as settlement of the delivery of the relevant Shares. The Company shall not be responsible for the subsequent actions of the Company’s transfer agent and registrar in the United States required to complete the delivery of the relevant Shares with the relevant Holder. |
5
| 5.8. | Capital increase: In accordance with applicable law, upon the exercise of Warrants, the capital increase and issue of new Shares resulting therefrom shall be formally recorded before a notary public by one or more authorized representatives of the Company. |
| 5.9. | Allocation of the Exercise Price: Upon the exercise of Warrants and the issue of the relevant new Shares pursuant to these Conditions, the applicable aggregate Exercise Price shall be allocated to the share capital of the Company. If the amount of the applicable (as the case may be converted) Exercise Price per Share issued is greater than the fractional value of the existing Shares immediately prior to the capital increase, then the applicable aggregate Exercise Price shall be allocated in such a manner that per Share issued (i) a part of the applicable aggregate Exercise Price equal to the fractional value of the existing Shares immediately prior to the capital increase shall be booked as share capital, and (ii) the balance of the applicable aggregate Exercise Price shall be booked as issue premium. Such issue premium shall be accounted for on the liabilities side of the Company’s balance sheet as net equity. The account on which the issue premium shall be booked shall, like the share capital, serve as the guarantee for third parties and, save for the possibility of a capitalization of those reserves, can only be reduced on the basis of a valid resolution of the general shareholders’ meeting passed in the manner required for an amendment to the Company’s articles of association. Following the issue of new Shares and the capital increase resulting therefrom, each of the Shares (existing and new) shall represent the same fraction of the Company’s share capital. |
| 5.10. | Further information: Upon receipt of the Exercise Notice in relation to a Warrant, the Company may request the Holder of the relevant Warrant in writing to provide to the Company with such further declarations and documents, which are reasonably necessary to allow the Company to comply with all applicable legal and regulatory provisions in connection with the exercise of the Warrant and the issue or delivery of the Shares resulting therefrom. |
| 5.11. | Listing of the Shares: Provided that the Holder has provided the necessary delivery instructions set out in the Exercise Notice in due time, the Company will procure, at its sole expense, that, upon exercise of Warrants, the Shares issuable upon exercise of such Warrants be admitted to trading and listing on any principal stock exchange or other trading platform on which the Company’s other Shares are then admitted to trading and listing. Provided that the Holder has provided the necessary delivery instructions set out in the Exercise Notice in due time, the Company will use its reasonable best efforts to ensure that the Shares issuable upon exercise of Warrants may be issued without violation of any applicable law or regulation or of any requirement of any securities exchange on which the Company’s other Shares are then listed or traded. |
| 5.12. | Confirmation of Shares: Upon the written request of a Holder (but not more than once during any calendar quarter), the Company shall, within three (3) Business Days, confirm to a Holder the number of their outstanding Shares. Furthermore, upon the written request of the Company (but not more than once during any calendar quarter), a Holder shall promptly confirm to the Company their then current beneficial ownership with respect to the Company’s Shares. |
| 6. | Adjustments to the Shares and the Exercise Price |
| 6.1. | Splits and reverse splits: If the Company subdivides its Shares into a greater number of Shares, the number of Shares issuable upon exercise of the Warrants pursuant to the Conditions shall be proportionately increased, and the Exercise Price shall be proportionately reduced. If the Shares are reduced, combined or consolidated into a lesser number of Shares, the Exercise Price shall be proportionately increased and the number of Shares issuable upon exercise of the Warrants pursuant to the Conditions shall be proportionately reduced. |
6
| 6.2. | Reclassification, exchange, combinations or substitution, etc.: Upon any event whereby all of the Shares are reclassified, exchanged, combined, substituted, or replaced for, into, with or by Company securities of a different class and/or kind, then from and after the consummation of such event, each outstanding Warrant will be exercisable for the number, class and kind of Company securities that the Holder thereof would have received had the Shares issuable upon exercise of such Warrant been issued and outstanding on and as of the consummation of such event, and subject to further adjustment thereafter from time to time in accordance with the provisions of these Conditions. Following such an event, the terms of these Conditions shall apply mutatis mutandis with respect to such other Company securities. The provisions of this section 6.2 shall similarly apply to successive reclassifications, exchanges, combinations, substitutions, replacements or other similar events. |
| 6.3. | No other adjustments: Notwithstanding article 7:71 of the Belgian Companies and Associations Code, the Company may proceed with all actions that it deems appropriate in relation to its capital, its articles of association, its financial condition or its management, even if such actions would lead to a reduction of the benefits allocated to a Holder, including but not limited to mergers, acquisitions, capital increases or reductions (including those subject to a condition precedent), incorporation of reserves in the capital with issuance of new shares, the distribution of dividends, the issuance of subscription rights, convertible bonds or other securities entitling its holder to subscribe for or acquire shares or other securities of the Company, the amendment of arrangements or provisions relating to the distribution of profits or liquidation proceeds (except if an amendment to the arrangements or provisions relating to the distribution of profits or liquidation proceeds would result in all of the then outstanding and existing Shares having preferred rights relating to the distribution of profits or liquidation proceeds as compared to the Shares to be issued upon exercise of the Warrants). Should the rights of a Holder with respect to the Warrants of such Holder be affected by such decision or transaction, then the Holder shall not be entitled to a change of the Exercise Price, a change of the exercise conditions or any other form of (financial or other) compensation, unless specifically provided for in sections 6.1 and 6.2 of these Conditions. |
| 6.4. | Notice as to adjustments. Upon each adjustment of the number of Shares issuable upon exercise of the Warrants pursuant to the Conditions, substitution of such Shares, or adjustment of the Exercise Price in accordance with this section 6, the Company shall notify the Holder in writing in accordance with the provisions of section 9.4 within a reasonable time setting forth the relevant adjustment and facts upon which such adjustment is based. |
| 7. | Representations AND Warranties OF THE HOLDER |
Upon subscribing for or otherwise acquiring Warrants, and upon an exercise of Warrants, the Holder thereof shall (and shall be deemed to) provide to the Company the following representations, warranties, agreements, covenants, undertakings and acknowledgements:
| 7.1. | Qualified Investor status. The Holder warrants, represents and agrees with the Company that it is either: |
| (a) | (i) a “qualified investor” within the meaning of Regulation 2017/1129 of the European parliament and of the council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC, as amended; and (ii) it is not in the United States and is not acting for the account or benefit of a person within the United States, and was located outside the United States at the time of subscribing or acquiring Warrants, and is acquiring Warrants or, if it is giving this representation and warranty in connection with an exercise of Warrants, acquiring Shares outside the United States in an “offshore transaction” as defined in Regulation S (“Regulation S”) under the United States Securities Act of 1933, as amended (the “US Securities Act”) and not with a view towards, or for resale in connection with, the public sale or distribution thereof in a manner that would violate the US Securities Act; or |
7
| (b) | (i) a institutional “accredited investor” (an “IAI”) within the meaning of Rule 501(a) under the US Securities Act or a “qualified institutional buyer” (a “QIB”) as defined in Rule 144A (“Rule 144A”) under the US Securities Act or, if it is giving this representation and warranty in connection with an exercise of Warrants, acquiring Shares for its own account or for the account of one or more IAIs or QIBs with respect to whom it has the authority to make, and does make, the representations, warranties and agreements herein; (ii) the Warrants and Shares issuable pursuant to the Conditions have not been, and will not be, registered under the US Securities Act or with any state or other jurisdiction of the United States and that it is aware, and each legal or beneficial owner of the Warrants and Shares issuable pursuant to the Conditions has been advised, that the Warrants and Shares are being offered, issued and sold to it in accordance with the exemption from registration under the US Securities Act for transactions by an issuer not involving a public offering of securities in the United States; (iii) the Warrants and Shares issuable pursuant to the Conditions may not and will not be reoffered, resold, pledged or otherwise transferred by it except: (A) pursuant to a registration statement which has been declared effective under the US Securities Act; (B) outside the United States pursuant to Rule 903 or Rule 904 of Regulation S; (C) to a person that it and any person acting on its behalf reasonably believe is a QIB purchasing for its own account or for the account of another QIB a transaction meeting the requirements of Rule 144A; or (D) pursuant to Rule 144 under the US Securities Act (if available) or another exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in each case in accordance with all applicable securities laws of the states of the United States and any other relevant jurisdiction and, in the case of (C) and (D) above, only after delivery of an opinion of counsel or such other documentation as the Company may reasonably require to evidence compliance with the registration requirements of the US Securities Act; (iv) the Warrants and Shares issuable pursuant to the Conditions are “restricted securities” as defined in Rule 144(a)(3) under the US Securities Act; (v) it has not subscribed for or acquired the Warrants or, if it is giving this representation and warranty in connection with an exercise of Warrants, the Shares issuable pursuant to the Conditions as a result of any general solicitation or general advertising, including advertisements, articles, blogs, mass-distributed emails, notices, website postings (including any form of communication by social media) published in any newspaper or magazine (online or print versions), broadcast over any form of television or radio (including streaming and satellite transmissions substantially similar thereto) or any seminar, meeting, chatroom or conference call whose attendees have been invited by general solicitation or general advertising; (vi) for so long as the Warrants and Shares issuable pursuant to the Conditions are “restricted securities” (within the meaning of Rule 144(a)(3) under the US Securities Act), it will segregate such Warrants and Shares from any other warrants, Shares or other financial instruments of the Company that it holds that are not restricted securities, it shall not deposit such Warrants and Shares in any unrestricted depositary receipt facility established or maintained by a depositary bank in respect of financial instruments of the Company and it will only transfer such Warrants and Shares in accordance with this paragraph; (vii) if it is acquiring the Warrants or, if it is giving this representation and warranty in connection with an exercise of Warrants, the Shares issuable pursuant to the Conditions as a fiduciary or agent for one or more investor accounts, it has sole investment discretion with respect to each such account; (viii) it is acquiring such Warrants or, if it is giving this representation and warranty in connection with an exercise of Warrants, the Shares issuable pursuant to the Conditions for its own account (or the account of one or more IAIs or QIBs as to which it has sole investment discretion) for investment purposes and (subject to the disposition of its property being at all times within its control) not with a view towards, or for resale in connection with, the public sale or distribution thereof in a manner that would violate the US Securities Act; and (ix) the Company has not made any representation as to the availability of the exemption provided by Rule 144 or any other exemption under the US Securities Act for the reoffer, resale, pledge or transfer of Warrants and Shares issuable pursuant to the Conditions. |
| 7.2. | Investment experience. Each Holder understands that the acquisition of Warrants and Shares issuable pursuant to the Conditions involves substantial risk and each Holder has experience as an investor in securities of companies in the development stage or otherwise comparable to the Company, and acknowledges that the Holder can bear the economic risk of its investment in acquisition of Warrants and Shares issuable pursuant to the Conditions, and has such knowledge and experience in financial or business matters such that it is capable of evaluating the merits and risks of its investment in Warrants and Shares issuable pursuant to the Conditions. |
| 7.3. | No voting or dividend rights. Each Holder, as Holder of a Warrant, will not have any voting rights with respect to general meetings of the Company nor any dividend rights until the underlying Shares have been issued to it upon the exercise of this Warrant. |
8
| 8. | Representations and Warranties of the Company |
The Company represents and warrants to each Holder as follows:
| 8.1. | Warrants duly authorized and issued: Any Warrants have been duly issued and allotted by the Company to their initial subscribers. |
| 8.2. | Shares duly authorized and issued: Any Shares issued upon the exercise of a Warrant in accordance with the provisions of the Conditions will be duly and validly authorized and issued (subject to payment by the Holder of the relevant Exercise Price), and fully paid, and no further contributions in respect of such Shares will be required, and such Shares will be free from all taxes, liens and charges (other than liens or charges created by a Holder, income and other taxes incurred in connection with the exercise of a Warrant or taxes in respect of any transfer occurring contemporaneously therewith). |
| 8.3. | Sufficient authority: The Company will at all times reserve and keep available a sufficient authority (on the basis of a decision by its general shareholders’ meeting) for the purpose of allowing for the exercise of the Warrants and the issuance of the Shares issuable upon exercise of the Warrants pursuant to the Conditions. |
| 8.4. | Shareholder authority: The Company has obtained all necessary shareholder and third party consents (which consents are subsisting and remain sufficient and have not been revoked at the Issue Date) to allocate the Warrants to the Holder pursuant to the Conditions. |
| 9. | Miscellaneous |
| 9.1. | Binding nature of the Conditions: In the case of subscription for the Warrant, the subscriber shall be bound by, and deemed to have accepted, the present Conditions. In the event of a transfer of the Warrant (or any right thereto), the acquirer or transferee shall be bound by, and deemed to have accepted, the present Conditions. |
| 9.2. | Severability: Whenever possible, the provisions of the Conditions shall be interpreted in such a manner that they are valid and enforceable under the applicable legislation. If any provision in these Conditions is held to be illegal, invalid or unenforceable, in whole or in part, under any applicable law, then such provision or part of it shall be deemed not to form part of these Conditions, and the legality, validity or enforceability of the remainder of these Conditions shall not be affected. In that event, the illegal, invalid or non-enforceable provision or part thereof is automatically replaced with the legal, valid and enforceable provision that is the closest to the original provision or part thereof as regards content, bearing and intention. |
| 9.3. | Expenses: The Company shall pay any taxes, duties and/or expenses payable in connection with the issue or delivery of the Warrants. The Company shall also pay all costs associated with the admission of the relevant Shares to trading and listing pursuant to section 5.11. Notwithstanding the foregoing, each Holder shall pay all taxes, duties and/or expenses, including any applicable depository charges, transaction or exercise charges, stamp duty, stamp duty reserve tax, issue, registration, securities transfer and/or other taxes or duties arising in connection with the exercise or a transfer of its Warrants. The Company shall not be liable for or otherwise obliged to pay any tax, duty, withholding or other payment which may arise as a result of the ownership, exercise or enforcement of Warrants, and all payments made by the Company shall be made subject to any such tax, duty, withholding or other payment which may be required to be made, paid, withheld or deducted. |
9
| 9.4. | Notices: Any notice, notification, demand or other communication (“notice”) to be given under these Conditions shall be in writing, shall specifically refer to these Conditions, and shall be addressed to the appropriate party at the address specified below or such other address as may be specified by such party in writing in accordance with this section 9.4, and shall be deemed delivered and effective for all purposes: (i) when given personally; (ii) upon actual receipt if given by electronic mail provided the sending party has not received an automated message indicating that the e-mail delivery failed; or (iii) on the second (2nd) Business Day following delivery to a reliable overnight courier service, courier fee prepaid and return receipt requested. The current details for notices are: |
| (a) | if to the Company: the address of the Company’s registered office, with the notice made for the attention of the General Counsel of the Company. |
| (b) | if to a Holder: to such Holder’s address as set out in the warrant register book. |
| 9.5. | Governing law: The Conditions, the Warrants and any non-contractual obligations arising out of or in connection with each of them are governed by, and are to be construed in accordance with, Belgian law. |
| 9.6. | Competent court: These Conditions and the rights and obligations of the Company and the Holder shall be subject to the exclusive jurisdiction of courts within the city of Brussels (Belgium) in their territorial scope and, if permitted by law, using the French language or, if not so permitted, using the Dutch language, and shall be governed by and construed in accordance with Belgian substantive law (to the exclusion of conflict of law rules and international treaties). |
10
Schedule
1
Form of Confirmation
| To: | [[name], a company organised and existing under the laws of [jurisdiction], with registered office at [address] and registered with [applicable company register] under number [number] [Drafting note: for legal entity]/[[name], of [nationality], residing at [address] [Drafting note: for natural person]] (the “Holder”) |
| Re: | Exact Sciences Warrants – Confirmation |
Dear all,
The present letter (the “Confirmation”) is sent on behalf of MDxHealth SA, a limited liability company (société anonyme) organized and existing under the laws of Belgium, with registered office at CAP Business Center, Zone Industrielle des Hauts-Sarts, Rue d’Abhooz 31, 4040 Herstal, Belgium, registered with the register for legal entities (registre des personnes morales) under number 0479.292.440 (RLP Liège, division Liège) (the “Company”).
Reference is made to the 2026 Exact Sciences Warrants that have been issued by the Company on [●] (the “Warrants”). Capitalized words and expressions used herein will, unless otherwise defined herein, have the same meaning as in the terms and conditions of the Warrants (the “Conditions”).
The Company hereby confirms to the Holder that on [date] the Holder was registered in the warrant register of the Company as the owner of [number] Warrants.
The aforementioned Warrants are in registered form, and the present Confirmation does not constitute a bearer instrument incorporating any rights to the aforementioned Warrants, and does not confer any rights to the Warrants.
On behalf of the Company:
| By: | |||
| Name: | [●] | ||
| Title: | [●] | ||
| Date: | [●] | ||
11
Schedule
2
Form of Exercise Notice
| To: | MDxHealth SA CAP Business Center Zone Industrielle des Hauts-Sarts Rue d’Abhooz 31 4040 Herstal Belgium |
| Re: | Exact Sciences Warrants – Exercise Notice |
Dear all,
The present letter (the “Exercise Notice”) is sent on behalf of [[name], a company organised and existing under the laws of [jurisdiction], with registered office at [address] and registered with [applicable company register] under number [number] [Drafting note: for legal entity]/[[name], of [nationality], residing at [address] [Drafting note: for natural person]] (the “Holder”).
Reference is made to the 2026 Exact Sciences Warrants that have been issued by MDxHealth SA, a limited liability company (société anonyme) organized and existing under the laws of Belgium, with registered office at CAP Business Center, Zone Industrielle des Hauts-Sarts, Rue d’Abhooz 31, 4040 Herstal, Belgium, registered with the register for legal entities (registre des personnes morales) under number 0479.292.440 (RLP Liège, division Liège)) (the “Company”) on [●] (the “Warrants”). Capitalized words and expressions used herein will, unless otherwise defined herein, have the same meaning as in the terms and conditions of the Warrants (the “Conditions”).
The Holder hereby:
| 1. | notifies the Company that it irrevocably and unconditionally exercises [number] Warrants and subscribes for [number] new Shares in accordance with the Conditions; |
| 2. | requests that the Company confirms the details of the Exercise Account as soon as practicably possible via email to [email address]; |
| 3. | confirms it shall pay the aggregate amount of the Exercise Price of the Warrants exercised, being USD [●] by means of a wire transfer of such amount in immediately available funds in USD to the Exercise Account; |
| 4. | undertakes to fill in and sign any additional document that may be reasonably requested by the Company and/or third parties to proceed with the issuance and listing of the [number] new Shares and the related capital increase; |
| 5. | provides to the Company the representations, warranties, agreements, covenants, undertakings and acknowledgements set out in section 7 of the Conditions as at the date of the present Exercise Notice; |
| 6. | the Shares to be issued as a result of the exercise of the Warrants are to be delivered in registered form to an account in the name of the Holder and recorded in the component of the Company’s share register that is maintained in the United States with the Company’s transfer agent and registrar in the United States, in accordance with the following instructions: |
|
Name of the Holder: |
[●] | |
| Address of the Holder: | [●] |
On behalf of the Holder:
| By: | |||
| Name: | [●] | ||
| Title: | [●] | ||
| Date: | [●] | ||
12
Exhibit 99.6
***Unofficial English translation - For information purposes only ***
MDXHEALTH
Limited Liability Company
(Société anonyme)
CAP Business Center
Zone Industrielle des Hauts-Sarts
Rue d’Abhooz 31
4040 Herstal
Belgium
Registered with the Register of Legal Persons
VAT BE 0479.292.440 (RLP Liège, Section Liège)
_________________________________________________
SPECIAL
Report of the Board of Directors
in accordance with Article 7:199 OF the Belgian Companies AND ASSOCIATIONS Code
_________________________________________________
| 1. | INTRODUCTION |
This special report has been prepared by the board of directors of MDxHealth SA (the “Company”) in accordance with article 7:199 of the Belgian Companies and Associations Code (as amended from time to time) (the “Belgian Companies and Associations Code”). It relates to the proposal to renew the powers of the board of directors of the Company to increase the Company’s share capital within the framework of the authorized capital within the limits set out in this special board report, and sets out the circumstances in which the board of directors will be able to use its powers under the authorized capital and the purposes that it should pursue. This proposal shall be submitted to the extraordinary general shareholders’ meeting of the Company to be held before a notary public on May 28, 2026 (or on June 25, 2026, should the required attendance quorum not be reached at the first meeting).
| 2. | PROPOSAL TO RENEW THE AUTHORIZED CAPITAL |
The current authorization to the board of directors to increase the share capital of the Company within the framework of the authorized capital was granted by the extraordinary general shareholders’ meeting held on June 30, 2023, and expires on July 7, 2028.
So far, the board of directors has used its powers under the current authorized capital on (i) October 20, 2023, by the issuance of 2,500,000 new shares for an aggregate amount of EUR 831,123.31 (all booked as share capital, without issue premium), (ii) September 27, 2024, by the issuance of 20,000,000 new shares for an aggregate amount of EUR 35,858,359.48 (all booked as share capital, without issue premium), (iii) October 29, 2024, by the issuance of 2,209,241 new shares for an aggregate amount of EUR 4,084,379.73 (all booked as share capital, without issue premium), and (iv) October 1, 2025, by the issuance of 1,867,186 new shares for an aggregate amount of EUR 3,866,208.91 (all booked as share capital, without issue premium). As a result, under the current authorized capital, the board of directors is still authorized to increase the Company’s share capital by an aggregate amount of EUR 118,831,558.15 (excluding issue premium, if any). Furthermore, on April 30, 2024, the board of directors also reserved a total amount of EUR 80,000,000.00 to proceed with capital increases within the framework of the authorized capital, subject to certain conditions. While this amount has not yet been utilized by the board of directors, taking into account a hypothetical capital increase for the full amount, under the current authorized capital, the board of directors would still be authorized to increase the Company’s share capital by a total amount of EUR 38,831,558.15 (excluding issue premium, if any).
1
In addition, under existing agreements and facilities, the Company may be required to issue additional new shares on an expedited basis, within the framework of the authorized capital, while the current authorized capital will expire in approximately two years from the date of this report (i.e., July 7, 2028).
In view of the above, in accordance with article 7:199 of the Belgian Companies and Associations Code, the board of directors proposes to the extraordinary general shareholders’ meeting of the Company to be authorized, for a period of five years as from the publication of such authorization in the Annexes to the Belgian Official Gazette, to increase the share capital of the Company in one or several times with a maximum amount of up to hundred percent (100%) of the share capital at the time of the general shareholders’ meeting approving the authorized capital.
It should be noted that the aforementioned authorization is not intended as a defense mechanism against a takeover bid as it does not authorize the board of directors to increase the share capital of the Company with restriction or cancellation of the preferential subscription right of the shareholders after the Financial Services and Markets Authority (FSMA) has notified the Company of a public takeover bid for the Company’s shares, subject to the provisions of article 7:202 of the Belgian Companies and Associations Code.
If approved by the shareholders, article 6 of the articles of association of the Company will read as follows (whereby the date referred to in the sub-section between square brackets shall be the date of the general shareholders’ meeting approving the renewed authorized capital, and the amount referred to in the sub-section between brackets shall be the amount of the Company’s share capital at the time of the general shareholders’ meeting approving the authorized capital):
“Article 6: Authorized capital
The board of directors is authorized to increase the share capital of the company on one or several occasions by a maximum aggregate amount of [100% of the company’s share capital at the time of the adoption of the new authorized capital].
The board of directors may increase the share capital by contributions in cash or in kind, by capitalization of reserves, whether available or unavailable for distribution, and capitalization of issue premiums, with or without the issuance of new shares, for no consideration or for consideration with an issue price below, at, or above the fractional value of the then existing shares, with or without voting rights, that will have the rights as will be determined by the board of directors. Subject to applicable law, the board of directors is also authorized to use this authorization for the issuance of convertible bonds or subscription rights, bonds with subscription rights or other securities.
This authorization is valid for a period of five years as from the date of publication in the Annexes to the Belgian Official Gazette of an extract of the minutes of the extraordinary general shareholders’ meeting of the company held on [date of the general shareholders’ meeting approving the authorized capital].
In the event of a capital increase decided by the board of directors within the framework of the authorized capital, all issue premiums booked, if any, will be accounted for in accordance with the provisions of these articles of association.
2
The board of directors is authorized, when exercising its powers within the framework of the authorized capital, to restrict or cancel, in the interest of the company, the preferential subscription rights of the shareholders. This restriction or cancellation of the preferential subscription rights can also be done in favor of members of the personnel of the company or of its subsidiaries, or in favor of one or more persons other than members of the personnel of the company or of its subsidiaries.
The board of directors is authorized, with the right of substitution, to amend the articles of association, after each capital increase that has occurred within the framework of the authorized capital, in order to bring them in conformity with the new situation of the share capital and the shares.”
| 3. | CIRCUMSTANCES AND PURPOSES FOR THE USE OT THE AUTHORIZED CAPITAL |
The board of directors is of the opinion that the renewal of the authorized capital is necessary to meet the needs of the Company as a Nasdaq listed company.
In principle, changes to the share capital are decided by the Company’s general shareholders’ meeting. Such resolution by the general shareholders’ meeting must satisfy the quorum and majority requirements that apply to an amendment of the articles of association. This means that a shareholders’ resolution to increase the Company’s share capital is only passed provided that at least 50% of the share capital of the Company is present or represented at the general shareholders’ meeting, and provided that the resolution is approved by 75% of the votes cast at the meeting. In the event the required attendance quorum of 50% is not present or represented at the first meeting, a second meeting can be convened through a new notice, and the second general shareholders’ meeting may validly deliberate and decide regardless of the number of shares present or represented.
Subject to the same quorum and majority requirements for an increase of the share capital, the Company’s general shareholders’ meeting may also authorize the board of directors, within certain limits, to increase the Company’s share capital without further approval of the shareholders. This is the so-called authorized capital.
The technique of the authorized capital offers the board of directors a degree of flexibility and expedience that may be necessary to ensure optimal management of the Company and the financing of its operations. The prior disclosures, formalities and time windows to convene a general shareholders’ meeting and obtain a general shareholders’ meeting approval to effect a capital increase are detailed, numerous, and often cannot be reconciled with the speed with which market opportunities arise and disappear again. For example, the time to convene a general shareholders’ meeting (including a second meeting if the required attendance quorum of 50% of the shares is not reached at the first meeting) can take approximately one to two months for a U.S. listed company. During this period, market circumstances can change significantly. If the board of directors is not able to seize potential market opportunities that arise, this could be to the disadvantage of the Company. In addition, if market circumstances no longer allow for a capital increase at favorable conditions after a general shareholders’ meeting has been convened, this could also be to the disadvantage of the Company.
The board of directors intends to use the abovementioned powers under the authorized capital in circumstances where, in the interest of the Company, the convening of a general shareholders’ meeting would be undesirable or not appropriate. Such circumstances could for instance arise when:
| ● | it appears to be necessary to be able to respond quickly to certain market opportunities; or |
| ● | there is a financing need, whereby the relevant market circumstances are not appropriate for convening a general shareholders’ meeting or for an offering or issuance to all shareholders; or |
3
| ● | under existing agreements, facilities or instruments, the Company is required to issue shares on an expedited basis, irreconcilable with the formalities for convening an extraordinary general shareholders’ meeting; or |
| ● | a prior convening of a general shareholders’ meeting would lead to an untimely announcement of the transaction, which could be to the disadvantage of the Company; or |
| ● | the costs related to the convening of a general shareholders’ meeting are not in balance with the amount of the proposed capital increase; or |
| ● | due to the urgency of the situation, it appears that a capital increase within the framework of the authorized capital is necessary in the interests of the Company. |
The board of directors would be able to use its powers under the authorized capital to issue shares, share options, subscription rights, or other securities with disapplication of the preferential subscription right to the benefit of the members of the personnel of the Company or of its subsidiaries, or to the benefit of one or more specified persons other than members of the personnel of the Company or of its subsidiaries.
The board of directors would be able to use its powers under the authorized capital to raise capital, inter alia:
| ● | with a view to strengthening the share capital or net equity of the Company; |
| ● | to attract possible new partners, or important shareholders, or specialist investors from one or several selected jurisdictions (in or outside Belgium or the United States) to the share capital structure of the Company; |
| ● | to increase the liquidity in the trading of the Company’s shares; |
| ● | to finance the existing business activities or new business initiatives of the Company and its subsidiaries; |
| ● | to finance the future growth and development of the business activities of the Company and its subsidiaries; |
| ● | to finance (in whole or in part) takeovers or acquisitions of companies, businesses or assets (such as, but not limited to, intellectual property rights), corporate partnerships, in-licensing deals or other types of mergers, partnerships or strategic alliances; |
| ● | for share-based compensation plans for members of the personnel, consultants and other service providers of the Company and its subsidiaries (from time to time); and/or |
| ● | for other general working capital purposes. |
* * *
[signature page follows]
Done on April 27, 2026.
4
On behalf of the board of directors,
| [Signed] | [Signed] | |||
| By: | By: | |||
| Director | Director |
5