Orexo Ab (AMEX:E\ORXS)
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6 Months : From Apr 2019 to Oct 2019
UPPSALA, Sweden, June 12, 2019 /PRNewswire/ -- Orexo AB (publ.) announces that the company has resolved to issue and immediately thereafter repurchase 63,000 class C shares. The shares are issued and repurchased in accordance with the long-term incentive programme, LTIP 2019, which was adopted by the annual general meeting on 11 April 2019. The size of the share issue has been determined with account taken to Orexo's total need for share delivery under the company's stock grant programs hedged with class C shares.
Danske Bank subscribes for the entire issue of new class C shares at a subscription price of approximately SEK 0.40 per share, equal to the quota value of the shares. The entire issue of class
C shares will thereafter be repurchased by Orexo for the same price per share.
The purpose of the share issue is to enable the future delivery of ordinary shares to participating in LTIP 2019. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants in LTIP 2019. The class C shares do not entitle to dividends.
For further information, please contact:
Orexo AB (publ.)
Lena Wange, IR & Communications Manager
Orexo develops improved pharmaceuticals based on innovative drug delivery technologies. The focus is primarily on opioid addiction and pain but the aim is to address therapeutic areas where our competence and technologies can create value. The products are commercialized by Orexo in the US or via partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo sells the product Zubsolv®. Total net sales for 2018 amounted to SEK 783.1 million and the number of employees was 129. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) and is available as ADRs on OTCQX (ORXOY) in the US. The head office, where research and development is also performed, is situated in Uppsala, Sweden.
For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube.
This information is information that Orexo AB (publ.) is obliged to make public in accordance with the Swedish Financial Instruments Trading Act. The information was submitted for publication at 5.30 pm CET June 12, 2019.
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Issue and repurchase of class C shares