UPPSALA, Sweden, Aug. 18, 2020 /PRNewswire/ -- Biotage AB today announced that, by virtue of the authorisation by the Annual General Meeting held on June 4, 2020, the Board of Directors has resolved to issue and immediately thereafter re-purchase 243,313 class C shares. The shares are issued and re-purchased in accordance with the incentive program LTIP 2020 which was adopted by the Annual General Meeting held on June 4, 2020.
Danske Bank A/S, Danmark, Sverige Filial, will subscribe for the entire issue of new class C shares at a subscription price of SEK 1.39 per share, corresponding to the quota value of the shares. The entire issue of class C shares will thereafter, in accordance with the Board of Directors' resolution, be re-purchased by Biotage for the same price. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants of LTIP 2020.
The purpose of the re-purchase is to ensure delivery of shares to participants and to secure social contributions arising as a result of LTIP 2020. The class C shares do not entitle to dividends and each share entitles to 1/10 voting right.
This information was submitted for publication, through the agency of the contact persons set out above, at 17.00 CET on August 18, 2020
Biotage offers efficient separation technologies from analysis to industrial scale and high quality solutions for analytical chemistry from research to commercial analysis laboratories. Biotage's products are used by government authorities, academic institutions, contract research and contract manufacturing companies, pharmaceutical and food companies, among others. The company is headquartered in Uppsala and has offices in the US, UK, China, Japan, South Korea and India. Biotage has approx. 460 employees and had sales of 1 101 MSEK in 2019. Biotage is listed on NASDAQ Stockholm. Website: www.biotage.com
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