Actelion announces share buyback program - up to 10 million shares over a maximum of three years through the first trading line for reactive servicing of employee share ownership schemes
Actelion Pharmaceuticals Ltd / Actelion announces share buyback program - up to 10 million shares over a maximum of three years through the first trading line for reactive servicing of employee share ownership schemes . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
ALLSCHWIL, SWITZERLAND - 5 December 2013 - The Board of Directors of Actelion Ltd. (SIX: ATLN) has approved a new program to buy back up to 8.31% (up to 10 million shares) of the currently outstanding share capital over the next three years. The repurchased registered shares will be used for the reactive servicing of existing employee option and share ownership programs. This will compensate for a possible dilution of earnings per share as a result of the share ownership schemes.
At the closing price on 4 December 2013, the maximum buyback volume amounts to CHF 720 million. The program will start on 9 December 2013, will last until 8 December 2016 at the latest and will be handled through the normal trading line on the SIX Swiss Exchange.
UBS AG has been commissioned to repurchase the shares. The terms of the buyback program will be published on 6 December 2013 in the daily press and on the company's website (www.actelion.com).
NOTES TO THE EDITOR
Actelion Ltd is a biopharmaceutical company with its corporate headquarters in Allschwil/Basel, Switzerland. Actelion first drug Tracleer® (bosentan), an orally available dual endothelin receptor antagonist, has been approved as a therapy for pulmonary arterial hypertension. Actelion markets Tracleer through its own subsidiaries in key markets worldwide, including the United States (based in South San Francisco), the European Union, Japan, Canada, Australia and Switzerland. Actelion, founded in late 1997, is a leading player in innovative science related to the endothelium - the single layer of cells separating every blood vessel from the blood stream. Actelion's over 2,300 employees focus on the discovery, development and marketing of innovative drugs for significant unmet medical needs. Actelion shares are traded on the SIX Swiss Exchange (ticker symbol: ATLN) as part of the Swiss blue-chip index SMI (Swiss Market Index SMI®).
For further information please contact:
Senior Vice President, Head of Investor Relations & Public Affairs
Actelion Pharmaceuticals Ltd, Gewerbestrasse 16, CH-4123 Allschwil
+41 61 565 62 62
+1 650 624 69 36
The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Actelion Pharmaceuticals Ltd via Globenewswire
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Actelion Pharmaceuticals Ltd
Gewerbestrasse 16 Allschwil Switzerland