Issue and re-purchase of class C shares for incentive program
Biotage has announced the issuance and immediate repurchase of 243,252 class C shares as part of its LTIP 2021 incentive program, authorized by the Annual General Meeting on April 28, 2021. Danske Bank will subscribe for these shares at SEK 1.39 each, which will then be repurchased by Biotage at the same price. The purpose is to ensure delivery of shares to program participants and cover associated social contributions. The class C shares carry no dividends and have limited voting rights.
- Issuance and repurchase of 243,252 class C shares supports LTIP 2021, aligning employee interests with shareholders.
- Subscription price set at SEK 1.39 reflects the quota value, ensuring no immediate financial impact.
- Class C shares do not entitle holders to dividends, potentially limiting attractiveness for participants.
UPPSALA, Sweden, Nov. 30, 2021 /PRNewswire/ -- The Board of Directors of Biotage AB (publ) ("Biotage") has today resolved, by virtue of the authorisation by the Annual General Meeting held on April 28, 2021, to issue and immediately thereafter re-purchase 243,252 class C shares. The shares are issued and re-purchased in accordance with the incentive program LTIP 2021 which was adopted by the Annual General Meeting held on April 28, 2021.
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 2021.
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 2021. 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 15.30 CET, November 30, 2021
Contact person:
Tomas Blomquist, CEO
Tel: 0705 23 01 63, tomas.blomquist@biotage.com
About Biotage
Biotage is a Global Impact Tech Company committed to solving society's problems. We offer workflow solutions and products to customers in drug discovery and development, analytical testing and water and environmental testing.
Biotage is contributing to sustainable science with the goal to make the world healthier, greener and cleaner - HumanKind Unlimited.
Our customers span a broad range of market segments including pharmaceutical, biotech, contract research and contract manufacturers as well as clinical, forensic and academic laboratories in addition to organizations focused on food safety, clean water and environmental sustainability.
Biotage is headquartered in Uppsala in Sweden and employs approx. 485 people worldwide. The Group had sales of 1,092 MSEK in 2020 and our products are sold in more than 70 countries. Biotage's share (BIOT) is listed in the Mid Cap segment on the NASDAQ Stockholm.
Website: www.biotage.com
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SOURCE Biotage
FAQ
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