Genmab announces initiation of share buy-back program
February 23 2021 - 11:05AM
Company Announcement
- Repurchase
of up to 200,000 shares
- Mitigating
dilution from warrant exercises and honoring commitments under our
Restricted Stock Unit program
- Completion
expected no later than June 30, 2021
COPENHAGEN, Denmark; February 23, 2021 –
Genmab A/S (Nasdaq: GMAB) announced today that it is
initiating a share buy-back program to mitigate dilution from
warrant exercises and honor our commitments under our Restricted
Stock Unit program. The share buy-back program will be undertaken
on the terms set out below and in accordance with Regulation (EU)
No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU)
2016/1052, also referred to as the “Safe Harbour
Regulation.”
PurposeThe purpose of the share buy-back
program is to mitigate dilution caused by warrant exercises and to
honor our commitments under our Restricted Stock Unit program.
Time frameThe share buy-back
program will start on February 24, 2021 and will be completed no
later than June 30, 2021 (unless Genmab terminates or suspends the
program).
TermsGenmab has appointed Danske Bank as lead
manager for the share buy-back program. Danske Bank will make its
own trading decisions and act independently of and without
influence or involvement from Genmab. Under this share buy-back
program Genmab may repurchase up to 200,000 shares.
Shares acquired under the program cannot be purchased at a price
exceeding the higher of (i) the price of the latest independent
transaction on Nasdaq Copenhagen and (ii) the price of the highest
independent bid on Nasdaq Copenhagen at the time of the
transaction. The total number of shares that may be purchased on a
single trading day may not exceed 25% of the average daily trading
volume over the preceding 20 trading days on Nasdaq Copenhagen.
As of February 23, 2021, Genmab holds 102,977 treasury shares
equal to 0.16% of the share capital.
Genmab is entitled to suspend or stop the program at any time
subject to announcement to Nasdaq Copenhagen.
Upon initiation of the program, Genmab will issue a weekly
announcement in respect of transactions made under the program.
About Genmab Genmab is an international
biotechnology company with a core purpose to improve the lives of
patients with cancer. Founded in 1999, Genmab is the creator of
multiple approved antibody therapeutics that are marketed by its
partners. The company aims to create, develop and commercialize
differentiated therapies by leveraging next-generation antibody
technologies, expertise in antibody biology, translational research
and data sciences and strategic partnerships. To create novel
therapies, Genmab utilizes its next-generation antibody
technologies, which are the result of its collaborative company
culture and a deep passion for innovation. Genmab’s proprietary
pipeline consists of modified antibody candidates, including
bispecific T-cell engagers and next-generation immune checkpoint
modulators, effector function enhanced antibodies and antibody-drug
conjugates. The company is headquartered in Copenhagen, Denmark
with locations in Utrecht, the Netherlands, Princeton, New Jersey,
U.S. and Tokyo, Japan. For more information, please visit
Genmab.com.
Contact:
Marisol Peron, Senior Vice President, Global Investor Relations
& CommunicationsT: +1 609 524 0065; E: mmp@genmab.com
For Investor Relations: Andrew Carlsen, Senior
Director, Head of Investor RelationsT: +45 3377 9558; E:
acn@genmab.com This Company Announcement contains forward looking
statements. The words “believe”, “expect”, “anticipate”, “intend”
and “plan” and similar expressions identify forward looking
statements. Actual results or performance may differ materially
from any future results or performance expressed or implied by such
statements. The important factors that could cause our actual
results or performance to differ materially include, among others,
risks associated with pre-clinical and clinical development of
products, uncertainties related to the outcome and conduct of
clinical trials including unforeseen safety issues, uncertainties
related to product manufacturing, the lack of market acceptance of
our products, our inability to manage growth, the competitive
environment in relation to our business area and markets, our
inability to attract and retain suitably qualified personnel, the
unenforceability or lack of protection of our patents and
proprietary rights, our relationships with affiliated entities,
changes and developments in technology which may render our
products or technologies obsolete, and other factors. For a further
discussion of these risks, please refer to the risk management
sections in Genmab’s most recent financial reports, which are
available on www.genmab.com and the risk factors included in
Genmab’s most recent Annual Report on Form 20-F and other filings
with the U.S. Securities and Exchange Commission (SEC), which are
available at www.sec.gov. Genmab does not undertake any obligation
to update or revise forward looking statements in this Company
Announcement nor to confirm such statements to reflect subsequent
events or circumstances after the date made or in relation to
actual results, unless required by law. Genmab A/S and/or its
subsidiaries own the following trademarks: Genmab®; the Y-shaped
Genmab logo®; Genmab in combination with the Y-shaped Genmab logo®;
HuMax®; DuoBody®; DuoBody in combination with the DuoBody logo®;
HexaBody®; HexaBody in combination with the HexaBody logo®;
DuoHexaBody®; HexElect®; and UniBody®.
Company Announcement no. 11CVR no. 2102 3884LEI Code
529900MTJPDPE4MHJ122
Genmab A/SKalvebod Brygge 431560 Copenhagen VDenmark
- 210223_CA_11_Share_Buyback
Genesis Healthcare (NYSE:GEN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Genesis Healthcare (NYSE:GEN)
Historical Stock Chart
From Apr 2023 to Apr 2024