4basebio AG: 4basebio AG decides to buy back 2 million treasury shares (news with additional features)
DGAP-News: 4basebio AG
/ Key word(s): Share Buyback
4basebio AG decides to buy back 2 million treasury shares
- Voluntary public share buyback offer against cash payment in a purchase price range of EUR 1.60 to EUR 1.85 per share
- Repurchased shares to be retained in treasury with a view to the Company's buy and build strategy or otherwise to be redeemed
Heidelberg, Germany and Cambridge, UK, 21 January 2020 - The management board of 4basebio AG (formerly Expedeon AG) (Frankfurt: 4BSB; ISIN: DE000A2YN801; Prime Standard) has decided today, based on the authorization of the general meeting of 19 December 2019 and with the approval of the supervisory board, to acquire up to 2,056,452 treasury shares (approx. 4% of the current share capital of the Company) within the scope of a share buyback offer.
David Roth, Chief Financial Officer of 4basebio AG, comments: "Following the successful 120 Mio. Euro deal closed at the beginning of the year, our objective remains a balanced use of the Company's high level of liquid funds, some of which is intended to the benefit of our shareholders. The buyback program is intended to offer an attractive opportunity for our investors to realise value should they so wish."
The share buyback shall take place within the framework of a voluntary public offer against payment of a cash consideration in a purchase price range of EUR 1.60 to EUR 1.85 per share (excluding incidental acquisition costs). The final purchase price per 4basebio share will be determined by the Company after expiry of the acceptance period in accordance with the offer document. Shareholders may tender shares for buyback during the period from 27 January 2020, 0:00 a.m. to 10 February 2020, 12:00 p.m. (local time Frankfurt am Main). To the extent necessary and legally permissible, the buyback offer may be extended, suspended and also resumed by the company at any time. The Company also reserves the right to increase the scope of the buyback offer.
4basebio AG is considering retaining the repurchased shares in treasury until further notice in order to use them later in accordance with the authorisation granted by the Annual General Meeting on 19 December 2019 - for example as consideration for the acquisition of companies or equity interests as part of its ongoing buy & build strategy. Shares not otherwise required will be redeemed.
Further details of the public buyback offer can be found in the offer document, which will be published on 24 January 2020, i.e. before the beginning of the acceptance period, on the company's website (www.investors.4basebio.com) under the heading "News" and in the German Federal Gazette (Bundesanzeiger).
About 4basebio AG: www.investors.4basebio.com
4basebio AG, formerly operating under the name of Expedeon AG, is an enabler of exciting advances in medical science and patient care. After divestment of its immunology and proteomics products portfolio on January 1 2020, the Company changed its name to 4basebio AG reflecting the enhanced focus on technologies and products centered around DNA. The Company will focus on DNA manufacturing to supply DNA products for therapeutic and other uses requiring large amounts of high-purity DNA, such as the fast-growing market of novel gene therapies and gene vaccines. Besides DNA manufacturing, 4basebio aims at providing research and diagnostic products based on its RNA reverse transcriptase, DNA polymerase and DNA primase enzymes, addressing the research tools and diagnostic products markets.
4basebio AG has offices in Germany, Spain, UK, and the US. The Company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (Ticker: 4BSB; ISIN: DE000A2YN801; Note: Effective 21 January 2020, the ticker symbol for 4basebio AG was changed from EXNN to 4BSB.).
For further information, please contact:
MC Services AG (Investor Relations and International Media Relations)
Document title: Shares_Eng
21.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||957845|
|End of News||DGAP News Service|