biolitec AG
biolitec AG: Biolitec buys back own shares at EUR1.70 from February 9 to 23, 2012 – Offer limited to 500,000 shares
biolitec AG / Key word(s): Share Buyback Biolitec buys back own shares at EUR1.70 from February 9 to 23, 2012 – Offer limited to 500,000 shares Management and board decide on buyback programme – Acceptance period from February 9 to 23 – Public offer to buy at 1.70 EUR – Annual report 2010/2011 further delayed Jena, February 6, 2012 – The management of biolitec AG, listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0005213409), has announced on January 31 to intend to buy back up to 500,000 shares. The Jena-based medical technology company offers biolitec shareholders the opportunity to take over their stock for a price of 1.70 Euro per share. The board of directors of biolitec AG has approved the measure which is taken primarily with the intention to provide shareholders in the current market situation with a limited option for the liquidation of their shares. ‘The public buyback offer shall give our shareholders an opportunity to sell which is currently limited in the regular exchange trading due to the low liquidity of the shares’, Dr. Wolfgang Neuberger, CEO of biolitec AG, comments. ‘Unfortunately our shares have lost value in the last months as a result of the persistent delay of our annual report 2010/2011 which is expected to continue as well as messages about ongoing litigation processes in the USA.’ The shares bought back in the course of the programme will be withdrawn. The capital stock of the corporation will be reduced by up to 500,000 EUR from the current 10,515,750 EUR depending on the volume of the buyback. For the remaining shareholders this leads to the advantage that possible future dividend payments will be split among up to 500,000 fewer shares. The public offer of biolitec to purchase the shares for 1.70 EUR is intended to prevent a further price decline, because in the current situation sales via the stock exchange may exert additional pressure on the stock price due to lacking demand and thus lead to further decline. As a result of the buyback, biolitec’s shares will not be included in the mid-cap segment GEX(R) anymore, in case the free float drops below 25.1%. In addition, due to the already announced downlisting into the Entry Stadard segment which will lead to significant reporting cost reductions, a number of institutional investors will possibly not acquire the shares anymore due to their respective internal regulations. The offering period starts on Thursday, February 9, 2012, and terminates on Thursday, February 23, 2012, 2 o’clock p.m. (Frankfurt/Main time). Additional details are included in the offer document for the public share buyback offer which is expected to be available for download as of February 6 on the company’s website www.biolitec.de as well as in the electronic Federal Gazette (Bundesanzeiger). About biolitec(R) biolitec(R) AG worldwide is one of the leading companies in the field of medical laser treatment and the only provider that possesses all the relevant core competencies – photosensitizers, laser devices and optical fibres – in the field of photodynamic therapy (PTD). Besides the laser treatment of cancer with Foscan(R), biolitec(R) primarily researches on minimally-invasive and gentle laser treatments and markets them. ELVeS(R) (Endo Laser Vein System) is the laser system most often used worldwide for the treatment of varicose veins, the Evolve(TM) laser has established as gentle treatment in urology. Gentle laser treatments in the fields of proctology, ENT, orthopaedics and ophtalmology as well as aesthetics also belong to the business field of biolitec(R). biolitec(R) AG is listed in the Prime Standard and the German Entrepreneurial Index GEX(R) (ISIN DE0005213409). Further information at www.biolitec.de. Investor Relations The information does not constitute an offer of or an invitation by or on behalf of biolitec AG or any of its subsidiaries to subscribe for or purchase securities of biolitec AG or any of its subsidiaries. End of Corporate News 06.02.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | biolitec AG | |
Otto-Schott-Str.15 | ||
07745 Jena | ||
Germany | ||
Phone: | +49 (0) 3641 519 53 0 | |
Fax: | +49 (0) 3641 519 53 33 | |
E-mail: | info@biolitec.de | |
Internet: | www.biolitec.de | |
ISIN: | DE0005213409 | |
WKN: | 521340 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
End of News | DGAP News-Service |
155563 06.02.2012 |