Following receipt of regulatory approval, Valartis Group AG today announces its share buy-back programme:
The General Meeting approved on 15 May 2018 the repurchase up to a maximum of 400,000 shares of the Company’s own shares prior to the 2019 Annual General Meeting by way of a public share buy-back programme for cancellation purposes. Any shares repurchased under the public share buy-back programme are to be cancelled and therefore will not fall within the scope of the 10 per cent limit on a company’s own shares pursuant to Art. 659 of the Swiss Code of Obligations. The amendment of the Articles of Association (reduction of share capital) in respect of the actual number of shares repurchased will be submitted to the Annual General Meeting 2019 for approval.
The share capital of Valartis Group AG currently registered with the commercial register amounts to CHF 5,000,000.00 and is divided into 5,000,000 registered shares with a nominal value of CHF 1.00 each.