MorphoSys to Start Share Buy-Back Program
MorphoSys AG announced the decision to repurchase its own shares on the stock market. Following approval by the Company's Supervisory Board, the Board of Management of MorphoSys AG has resolved to acquire up to 100,000 MorphoSys shares over the stock market during the time period from June 1, 2011 to June 30, 2011. The shares will be used to implement the Company's long-term incentive program for management.
The relevant conditions of the shareholders' resolutions passed in the ordinary shareholders' meeting 2011 of MorphoSys AG on the authorization to acquire and to use its own shares shall apply. The purchase price paid per share may not be more than 10 % higher or 20 % lower than the Company's share price determined by the opening auction in the Xetra trading system on the day of trading. On the basis of the current share price (status: May 31, 2011), this would amount to around EUR 1.7 million or up to 0.5 % of the share capital.
The buy-back is to be handled independently of and uninfluenced by the Company through an appointed bank in compliance with the safe-harbor provisions.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
