Actelion announces commencement of share repurchase program
(Thomson Reuters ONE) -
Actelion Pharmaceuticals Ltd /
Actelion announces commencement of share repurchase program
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The issuer is solely responsible for the content of this announcement.
ALLSCHWIL, SWITZERLAND - 23 March 2015 - Actelion (SIX: ATLN) announced today
that it has received approval from the relevant authorities to launch the
repurchase of up to 10 million shares (8.76% of currently issued capital), over
three years.
The repurchase program will be carried out via a second trading line on the SIX
Swiss Exchange established for this purpose (SIX: ATLNE). Trading is expected to
commence on 9 April 2015 and will run over a maximum of three years.
At subsequent Annual General Meetings, Actelion's Board of Directors will
propose that the shares bought through this program be cancelled and the issued
share capital reduced accordingly.
Jean-Paul Clozel, MD, Chief Executive Officer, commented: "This program
demonstrates our continued commitment to shareholder value creation. The
excellent results we have seen with our PAH portfolio, together with the value
created through our discovery and development efforts, gives us confidence in
our long-term future. The program will immediately generate value for our
shareholders."
André C. Muller, Chief Financial Officer, commented: "Our efforts to optimize
profitability have resulted in a net cash position of almost 1 billion Swiss
francs. We are constantly looking to make the best use of this reserve through
business development opportunities, whenever they fit both our strategic and
financial criteria. In the absence of an appropriate opportunity to create
significant value for the company and, ultimately, for our shareholders, we will
return value through dividends and share repurchase programs."
Shares purchased on the second trading line are subject to the Swiss federal
withholding tax at the rate of 35% on the difference between the repurchase
price of the Actelion registered share and its nominal value of CHF 0.50. This
withholding tax can be reclaimed by qualified investors.
The maximum daily repurchase volume is 127,572 shares, calculated in accordance
with Art. 55b(1)(c) of the Swiss Federal Ordinance on Stock Exchange and
Securities Trading.
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NOTES TO THE EDITOR
ACTELION LTD
Actelion Ltd. is a leading biopharmaceutical company focused on the discovery,
development and commercialization of innovative drugs for diseases with
significant unmet medical needs.
Actelion is a leader in the field of pulmonary arterial hypertension (PAH). Our
portfolio of PAH treatments covers the spectrum of disease, from WHO Functional
Class (FC) II through to FC IV, with oral, inhaled and intravenous medications.
Although not available in all countries, Actelion has treatments approved by
health authorities for a number of specialist diseases including Type 1 Gaucher
disease, Niemann-Pick type C disease, Digital Ulcers in patients suffering from
systemic sclerosis, and mycosis fungoides type cutaneous T-cell lymphoma.
Founded in late 1997, with now over 2,400 dedicated professionals covering all
key markets around the world including Europe, the US, Japan, China, Russia and
Mexico, Actelion has its corporate headquarters in Allschwil / Basel,
Switzerland.
Actelion shares are traded on the SIX Swiss Exchange (ticker symbol: ATLN) as
part of the Swiss blue-chip index SMI (Swiss Market Index SMI®). All trademarks
are legally protected.
For further information please contact:
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Actelion Pharmaceuticals Ltd, Gewerbestrasse 16, CH-4123 Allschwil
+41 61 565 62 62
http://www.actelion.com
The above information contains certain "forward-looking statements", relating to
the company's business, which can be identified by the use of forward-looking
terminology such as "estimates", "believes", "expects", "may", "are expected
to", "will", "will continue", "should", "would be", "seeks", "pending" or
"anticipates" or similar expressions, or by discussions of strategy, plans or
intentions. Such statements include descriptions of the company's investment
and research and development programs and anticipated expenditures in connection
therewith, descriptions of new products expected to be introduced by the company
and anticipated customer demand for such products and products in the company's
existing portfolio. Such statements reflect the current views of the company
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause the actual results, performance or
achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward-
looking statements. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those described herein as anticipated, believed,
estimated or expected.
Press Release PDF:
http://hugin.info/131801/R/1905291/677983.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Actelion Pharmaceuticals Ltd via GlobeNewswire
[HUG#1905291]
Unternehmensinformation / Kurzprofil:
Datum: 23.03.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 380199
Anzahl Zeichen: 6573
contact information:
Town:
Allschwil
Kategorie:
Business News
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