DGAP-News: biolitec AG: Biolitec buys back own shares at EUR1.70 from February 9 to 23, 2012 - Offer limited to 500,000 shares
(firmenpresse) - DGAP-News: biolitec AG / Key word(s): Share Buyback
biolitec AG: Biolitec buys back own shares at EUR1.70 from February 9
to 23, 2012 - Offer limited to 500,000 shares
06.02.2012 / 15:21
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Biolitec buys back own shares at EUR1.70 from February 9 to 23, 2012 -
Offer limited to 500,000 shares
Management and board decide on buyback programme - Acceptance period from
February 9 to 23 - Public offer to buy at 1.70 EUR - Annual report
2010/2011 further delayed
Jena, February 6, 2012 - The management of biolitec AG, listed in the Prime
Standard segment of the Frankfurt Stock Exchange (ISIN DE0005213409), has
announced on January 31 to intend to buy back up to 500,000 shares. The
Jena-based medical technology company offers biolitec shareholders the
opportunity to take over their stock for a price of 1.70 Euro per share.
The board of directors of biolitec AG has approved the measure which is
taken primarily with the intention to provide shareholders in the current
market situation with a limited option for the liquidation of their shares.
'The public buyback offer shall give our shareholders an opportunity to
sell which is currently limited in the regular exchange trading due to the
low liquidity of the shares', Dr. Wolfgang Neuberger, CEO of biolitec AG,
comments. 'Unfortunately our shares have lost value in the last months as a
result of the persistent delay of our annual report 2010/2011 which is
expected to continue as well as messages about ongoing litigation processes
in the USA.'
The shares bought back in the course of the programme will be withdrawn.
The capital stock of the corporation will be reduced by up to 500,000 EUR
from the current 10,515,750 EUR depending on the volume of the buyback. For
the remaining shareholders this leads to the advantage that possible future
dividend payments will be split among up to 500,000 fewer shares.
The public offer of biolitec to purchase the shares for 1.70 EUR is
intended to prevent a further price decline, because in the current
situation sales via the stock exchange may exert additional pressure on the
stock price due to lacking demand and thus lead to further decline.
As a result of the buyback, biolitec's shares will not be included in the
mid-cap segment GEX(R) anymore, in case the free float drops below 25.1%.
In addition, due to the already announced downlisting into the Entry
Stadard segment which will lead to significant reporting cost reductions, a
number of institutional investors will possibly not acquire the shares
anymore due to their respective internal regulations.
The offering period starts on Thursday, February 9, 2012, and terminates on
Thursday, February 23, 2012, 2 o'clock p.m. (Frankfurt/Main time).
Additional details are included in the offer document for the public share
buyback offer which is expected to be available for download as of February
6 on the company's website www.biolitec.de as well as in the electronic
Federal Gazette (Bundesanzeiger).
About biolitec(R)
biolitec(R) AG worldwide is one of the leading companies in the field of
medical laser treatment and the only provider that possesses all the
relevant core competencies - photosensitizers, laser devices and optical
fibres - in the field of photodynamic therapy (PTD). Besides the laser
treatment of cancer with Foscan(R),biolitec(R) primarily researches on
minimally-invasive and gentle laser treatments and markets them. ELVeS(R)
(Endo Laser Vein System) is the laser system most often used worldwide for
the treatment of varicose veins, the Evolve(TM) laser has established as
gentle treatment in urology. Gentle laser treatments in the fields of
proctology, ENT, orthopaedics and ophtalmology as well as aesthetics also
belong to the business field of biolitec(R). biolitec(R) AG is listed in
the Prime Standard and the German Entrepreneurial Index GEX(R) (ISIN
DE0005213409). Further information at www.biolitec.de.
Investor Relations
Jörn Gleisner
Telephone +49 (0) 69 / 959083-20
Telefax +49 (0) 69 / 959083-99
E-Mail: joern.gleisner(at)biolitec.com
The information does not constitute an offer of or an invitation by or on
behalf of biolitec AG or any of its subsidiaries to subscribe for or
purchase securities of biolitec AG or any of its subsidiaries.
In particular, the information contained does not constitute an offer of
securities for sale or solicitation of an offer to buy securities in the
United States of America.
End of Corporate News
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06.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: biolitec AG
Otto-Schott-Str.15
07745 Jena
Germany
Phone: +49 (0) 3641 519 53 0
Fax: +49 (0) 3641 519 53 33
E-mail: info(at)biolitec.de
Internet: www.biolitec.de
ISIN: DE0005213409
WKN: 521340
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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155563 06.02.2012
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Datum: 06.02.2012 - 15:21 Uhr
Sprache: Deutsch
News-ID 111326
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