Following receipt of regulatory approval, Valartis Group AG announced on 23 May 2018 its share buy-back programme:
The 2018 Annual General Meeting approved the share buyback of up to 400,000 shares of Valartis Group AG before the 2019 Annual General Meeting as part of a public share buyback programme with the aim of cancelling the shares.
On 12 April 2019, the end of the share buyback programme 2018/2019, a total volume of shares was purchased for CHF 2.553 million at an average purchase price of CHF 11.03 per share. This corresponded to a total number of 230,705 shares acquired or 58 percent of the programme total (400,000 shares).
The Annual General Meeting 2019 of 14 May 2019 approved the proposal of the Board of Directors to reduce the share capital by CHF 230,705.00 from CHF 5,000,000.00 to CHF 4,769,295.00 by cancelling 230,705 shares repurchased under the share buyback programme announced on 23 May 2018 and completed on 12 April 2019. The reduction amount of CHF 230,705.00 was used to release the reserve created for treasury shares. The audit report of the statutory auditors BDO SA dated 18 April 2019 showed that the claims of the creditors were fully covered despite the reduction of the share capital.