BB Biotech shareholders agree to the motions put forward by the Board of Directors
(Thomson Reuters ONE) -
BB BIOTECH AG /
BB Biotech shareholders agree to the motions put forward by the Board of
Directors
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Extraordinary General Meeting of BB Biotech AG
In the Extraordinary General Meeting, the shareholders of BB Biotech AG approved
all proposals with a large majority.
In March 2011, BB Biotech AG launched its seventh share buy-back program.
1 640 250 own shares were bought back as part of this program. The General
Meeting has now agreed to the capital reduction and the subsequent cancellation
of the shares bought back.
The Board of Directors once again confirmed its intention to keep the discount
compared to the Net Asset Value within a target band of 10 to 15% for the long
term. In this respect, the buy-back program that has now been completed has
achieved its purpose. Despite temporary fluctuations that are due to general
turmoil on the markets, the discount is close to the target band.
In order to continue driving forward the strategy of earnings accretion the
Board of Directors had proposed a new share program for up to 1 476 225 shares.
This gives BB Biotech the opportunity to buy back up to 10% of the share capital
over a period of a maximum of three years from December 5, 2011. To this end, a
second trading line will be established for BB Biotech registered shares on the
SIX Swiss Exchange.
For further information:
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland
Thomas Egger, Tel. +41 44 267 67 09,teg(at)bellevue.ch
www.bbbiotech.com
Company profile
BB Biotech invests in companies in the fast growing market of biotechnology and
is one of the world's largest investors in this sector with CHF 1 bn in assets
under management. BB Biotech is listed in Switzerland, Germany and Italy. Its
investments are focused on listed companies that are developing and
commercializing novel medical treatments and cures. BB Biotech's investment
selection process is guided by the fundamental research and analysis of
physicians and molecular biologists. Its Board of Directors has many years of
experience in industry and science.
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BB BIOTECH AG
Vordergasse 3 Schaffhausen Switzerland
WKN: AONFN3;ISIN: CH0038389992;
BB Biotech_Media Release_02.12.11 (PDF):
http://hugin.info/130285/R/1568496/487506.pdf
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Source: BB BIOTECH AG via Thomson Reuters ONE
[HUG#1568496]
Datum: 02.12.2011 - 17:35 Uhr
Sprache: Deutsch
News-ID 93604
Anzahl Zeichen: 3428
contact information:
Town:
Schaffhausen
Kategorie:
Business News
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