Sobi's board of directors exercises authorisation for repurchase of shares for the purpose of securing the company's commitments under the incentive program
July 18, 2014 - London
The annual general meeting of Swedish Orphan Biovitrum AB (publ) on 8 May 2014 resolved - for the purpose of ensuring that the company can fulfill its commitments under the long-term incentive program resolved by the annual general meeting - on a directed share issue of no more than 396,180 redeemable and convertible class C shares.
The general meeting also resolved to authorise the board of directors to resolve on the repurchase of all issued class C shares by an offer directed to all holders of class C shares. Repurchase under this authorisation may be made on one or several occasions until the annual general meeting in 2015 and at a price to no less than 100 per cent and no more than 105 per cent of the quotient value of the share (approximately SEK 0.55).
The board of directors has resolved to exercise the repurchase authorisation for the said purpose by repurchasing of all issued class C shares against payment of 100 per cent of the quotient value of the share, corresponding to approximately SEK 0.55 per share. Repurchase of the class C shares may be effected during the period 21 July - 15 September 2014.
The company currently holds 4 688 948 own common shares but no own class C shares. Subsequently to the effected repurchase of class C shares above, the number of own class C shares will amount to 396,180.
The class C shares will, following the repurchase, be converted to common shares to ensure delivery under the incentive program.
Sobi is an international specialty healthcare company dedicated to rare diseases. Our mission is to develop and deliver innovative therapies and services to improve the lives of patients. The product portfolio is primarily focused on Inflammation and Genetic diseases, with two late stage biological development projects within Haemophilia. We also market a portfolio of specialty and rare disease products for partner companies. Sobi is a pioneer in biotechnology with world-class capabilities in protein biochemistry and biologics manufacturing. In 2013, Sobi had total revenues of SEK 2.2 billion ($334 M) and about 550 employees. The share (STO: SOBI) is listed on NASDAQ OMX Stockholm. More information is available at www.sobi.com.
For more information please contact
Media relations Investor relations
Oskar Bosson Jörgen Winroth
Head of Communications Vice President, Head of Investor Relations
T: +46 70 410 71 80 T: +1 347-224-0819, +1 212-579-0506
The information was released for public distribution on 18 July 2014, 09:00.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Swedish Orphan Biovitrum AB (publ) via Globenewswire