- Source : Press Release
- Date : 2018-06-15
- Companies : Orexo AB
Issue and Repurchase of Class C Shares
Orexo AB (publ.) announces that the company has resolved to issue and immediately thereafter repurchase 325,000 class C shares. The shares are issued and repurchased in accordance with the long-term incentive program, LTIP 2018, which was adopted by the annual general meeting on April 12, 2018.
Danske Bank subscribes for the entire issue of new class C shares at a subscription price of 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 SEK 0.40 per share.
The purpose of the share issue is to enable the future delivery of ordinary shares to those participating in LTIP 2018. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants in LTIP 2018. The class C shares do not entitle to dividends.
For more information please contact:
Orexo AB (publ.)
Henrik Juuel, EVP and CFO Lena Wange, IR and Communications Manager
Tel: +46 (0)18 780 88 00 Tel: +46 (0)18 780 88 00
email: [email protected] email: [email protected]
Orexo develops improved pharmaceuticals based on innovative drug delivery technologies. The focus is primarily on opioid dependence 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 selected partners worldwide. The main market today is the American market for buprenorphine/naloxone products, where Orexo sells the product Zubsolv®. Total net sales for 2017 amounted to SEK 643.7 million and the number of employees at year-end was 90. 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.