Company: PRTA
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001140361-25-037500
Chunk: 11

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 11
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 approximately $479.7 million. In order to facilitate the creation of distributable reserves, we are asking our shareholders to approve the reduction of our capital up to the entire balance of our share premium account as of the passing of this resolution, or such lesser amount as our Board may determine or the Irish High Court may confirm. In order to have greater flexibility in the future to execute corporate transactions, including, a potential share redemption program, we are now seeking approval to reduce the capital on the terms set out below. Why We are Proposing to Create Distributable Reserves Our Board reviews the Company’s capital structure and balance sheet strength on a regular basis. We are seeking to create distributable reserves, by way of the proposed reduction of our capital by up to the entire balance of our share premium account as of the passing of this resolution, or such lesser amount as our Board may determine or the Irish High Court may confirm, in order to give our Board flexibility with respect to allocating our capital, such as by allowing it to authorize redemptions or repurchases of our shares, payment of dividends to our shareholders, or other distributions to our shareholders. In particular, the proposed reduction would give our Board the flexibility to potentially return capital to shareholders via a share redemption program through open market purchases or other permissible means as mentioned in our press release issued on August 4, 2025. Our Board has not made any final decision to authorize any such return of capital, including a share redemption program, and such an action will depend on prevailing market and economic conditions; our financial position, results of operations, and prospects; our available cash, cash flow, and liquidity requirements; our ordinary share price; capital and regulatory requirements; and other factors, conditions, and circumstances as may be considered by our Board. In order to reduce our capital to create distributable reserves, we must seek the Irish High Court’s confirmation of the proposed capital reduction. If shareholders approve this proposal, we currently intend to seek the Irish High Court’s confirmation as soon as practicable. We expect the Irish High Court’s confirmation process to take approximately six to eight weeks from the date of making an application, but it may take longer depending on the Court’s schedule and availability. Although we are not aware of any reason why the Irish High Court would not confirm a reduction of our capital to facilitate the creation of distributable reserves, there is no guarantee of such confirmation or that the Irish High Court will confirm the amount of the capital reduction we seek. Even if shareholders approve this proposal, our Board determines