Trinity Biotech plc Announces Details of Its Dividend and Share Buyback Program
June 06 2012 - 7:00AM
Trinity Biotech plc (Nasdaq:TRIB), a leading developer and
manufacturer of diagnostic products for the point-of-care and
clinical laboratory markets, announced additional details of its
Dividend and Share Buyback Program.
Annual Dividend
At its most recent AGM held on 25 May, 2012, Trinity Biotech
obtained shareholder approval to pay a dividend of US 15 cents per
ADR. The dividend will have a record date of Friday June 8, 2012
with payment to follow two weeks later on Friday June 22, 2012.
Share buyback
At the same meeting, the shareholders also renewed their
approval for the Company to repurchase its own shares, up to a
maximum of 10% of the outstanding shares at the date of the
meeting. This authority is valid for an 18 month period
commencing on the date of the meeting and is capable of being
renewed at any future General Meeting.
Following this approval, the Board of the Company has determined
to continue to repurchase shares in the market, up to the maximum
level approved. The approval granted allows for up to 10% of
the issued shares of the Company, or 2.1m ADRs, to be repurchased
which, based on current market prices, equates to up to
approximately $23m. The levels of these repurchases,
which will be determined by the Board at regular intervals, will
depend on market conditions at the time, in particular the
prevailing share price and trading volumes.
About Trinity Biotech plc
Trinity Biotech develops, acquires, manufactures and markets
diagnostic systems, including both reagents and instrumentation,
for the point-of-care and clinical laboratory segments of the
diagnostic market. The products are used to detect infectious
diseases and to quantify the level of Haemoglobin A1c and other
chemistry parameters in serum, plasma and whole blood. Trinity
Biotech sells direct in the United States, Germany, France and the
U.K. and through a network of international distributors and
strategic partners in over 75 countries worldwide. For further
information, please see the Company's website:
www.trinitybiotech.com.
The Trinity Biotech plc logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10602
Forward-looking statements in this release are made pursuant to
the "safe harbor" provision of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties
including, but not limited to, the results of research and
development efforts, the effect of regulation by the United States
Food and Drug Administration and other agencies, the impact of
competitive products, product development commercialisation and
technological difficulties, and other risks detailed in the
Company's periodic reports filed with the Securities and Exchange
Commission.
CONTACT: Trinity Biotech plc
Kevin Tansley
(353)-1-2769800
E-mail: kevin.tansley@trinitybiotech.com
Lytham Partners LLC
Joe Diaz, Joe Dorame & Robert Blum
602-889-9700
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