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Decision by the Board of Directors to acquire own shares | ||||||
By: Nasdaq / GlobeNewswire - 25 Apr 2019 | Back to overview list |
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ORION CORPORATION STOCK EXCHANGE RELEASE 25 APRIL 2019 at 12.30 EEST
Decision by the Board of Directors to acquire own shares The Board of Directors of Orion Corporation decided on 25 April 2019 on a share acquisition based on the authorisation by the Annual General Meeting on 26 March 2019. According to the decision, 250,000 Class B shares of Orion Corporation will be acquired. The acquisition will be started at the earliest on 2 May 2019 and it can continue until further notice. The acquisition of the shares will be executed in accordance with the terms of the authorisation by the Annual General Meeting. The shares shall be acquired using funds in the company's unrestricted equity at the price of the acquisition moment quoted at trading on regulated market organised by Nasdaq Helsinki Oy ("Stock Exchange"), in proportions not corresponding to the shareholders' holdings. The shares shall be acquired and paid for in accordance with the rules of the Stock Exchange and Euroclear Finland Ltd. The shares will be acquired to be used as part of the execution of incentive plans of the Orion Group. There is a weighty financial reason for the targeted share acquisition, because the purpose of the incentive plans is to encourage the persons involved in it to sustained commitment and efforts for the benefit of the company and its shareholders. The terms and conditions of the authorisation to acquire the company's own shares are attached to this release. They were published in the stock exchange release of 26 March 2019 concerning the decisions of the Annual General Meeting of Orion Corporation. The 2018 Financial Statements documents of Orion Corporation, the decision of the profit distribution made by the Annual General Meeting on 26 March 2019 as well as the Interim Report 1-3/2019 are available on the homepage http://www.orion.fi/en/Orion-group/investors, as provided in the Companies Act.
Orion Corporation Timo Lappalainen Olli Huotari Contact person: APPENDIX: Authorisation of the Board of Directors to decide on acquisition of the company's own shares Maximum amount of shares to be acquired Consideration to be paid for the shares Targeted acquisition Holding, invalidation and conveyance of the shares The shares can be acquired for the purpose of developing the capital structure of the Company, for using them for financing possible corporate acquisitions or other business arrangements of the Company, for financing capital expenditure, as part of the Company's incentive system, or otherwise conveying or invalidating them. Other terms and validity The authorisation to acquire own shares shall be valid 18 months from the decision of the Annual General Meeting of the Shareholders. Publisher: Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory diseases for which Orion develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2018 amounted to EUR 977 million and the company had about 3,200 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki. |
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