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17.03.2016 17:40
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BB Biotech AG: Shareholders at the general meeting vote in favor of all proposals and approve the distribution of CHF 14.50 as well as a new share buyback program of up to 10%
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BB BIOTECH AG / BB Biotech AG: Shareholders at the general meeting vote in favor of all proposals and approve the distribution of CHF 14.50 as well as a new share buyback program of up to 10% . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
All proposals of BB Biotech AG's Board of Directors were approved by shareholders at its Annual General Meeting held today.
Shareholders voted in favor of the proposal to pay out CHF 14.50 per share in cash, drawn in part from capital contribution reserves (CHF 12.25, exempt from Swiss withholding tax) and retained earnings (CHF 2.25). Payment will be made on March 23, 2016, the date of record is March 22, 2016 and the ex-dividend date is March 21, 2016.
The 5-for-1 stock split was approved. After the stock split the total number of registered shares outstanding will increase to 59'250'000. Splitting par value per share is intended to increase the stock's liquidity and tradability. The legal efficacy of the split is conditional upon the registration of the resolution by the Swiss Commercial Register planned for March 24, 2016. March 29, 2016 is scheduled to be the first day of trading for the shares with the new par value of CHF 0.20 each.
After the conclusion of the previous share buyback program on March 11, 2016, shareholders voted to cancel the repurchased shares and approved another share buyback program of up to 10% for the purpose of capital reduction/cancellation of shares. This ensures the continuation of the structured distribution policy that was adopted in 2012 to return capital to shareholders, providing them with a 10% annual return.
Shareholders elected the previous board members to another term of office. Dr. Erich Hunziker was confirmed as Chairman of the Board of Directors and Dr. Clive Meanwell and Prof. Dr. Dr. Klaus Strein as directors for a one-year term of office extending until completion of the next Annual General Meeting.
Investor Relations
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00
Dr. Silvia Schanz, ssc@bellevue.ch
Maria-Grazia Iten-Alderuccio, mga@bellevue.ch
Claude Mikkelsen, cmi@bellevue.ch
Media Relations
Bellevue Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland, Tel. +41 44 267 67 00
Tanja Chicherio, tch@bellevue.ch
b-public AG, Pfingstweidstrasse 6, 8005 Zurich, Switzerland, Tel. +41 79 423 22 28
Thomas Egger, teg@b-public.ch
Company profile
BB Biotech invests in companies in the fast growing market of biotechnology and is one of the world's largest investors in this sector. BB Biotech is listed in Switzerland, Germany and Italy. Its investments are focused on listed companies that are developing and commercializing novel medical treatments and cures. BB Biotech's investment selection process is guided by the fundamental research and analysis of physicians and molecular biologists. Its Board of Directors has many years of experience in industry and science.
Disclaimer
This release contains forward-looking statements and expectations as well as assessments, beliefs and assumptions. Such statements are based on the current expectations of BB Biotech, its directors and officers, and are, therefore, subject to risks and uncertainties that may change over time. As actual developments may significantly differ, BB Biotech and its directors and officers accept no responsibility in that regard. All forward-looking statements included in this release are made only as of the date of this release and BB Biotech and its directors and officers assume no obligation to update any forward-looking statements as a result of new information, future events or other factors.This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BB BIOTECH AG via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BB BIOTECH AG via Globenewswire
HUG#1995704
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BB BIOTECH AG
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WKN: AONFN3;ISIN: CH0038389992;
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