Camurus AB (OM:CAMX) commences an Equity Buyback, under the authorization approved on May 8, 2024.
June 28, 2024 at 01:00 am EDT
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Camurus AB (publ) (OM:CAMX) commences share repurchases in June, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 8, 2024. As per the mandate, the company is authorized to repurchase its own shares in a manner such that the company?s holding in treasury does not exceed 2% of its issued share capital. The shares may be repurchased at a price that falls within the prevailing price interval registered at each point in time (i.e., in the interval between the highest purchase price and the lowest selling price). The purpose of the program is to enable the financing or payment of possible future company acquisitions. Repurchased shares may also be used for delivery of shares to the participants in the performance share plan 2024/2027 and to secure any payments of future social security charges related to the performance share plan, whereby repurchased shares may be transferred in accordance with transfer resolution under the performance share plan. The authority shall expire at the conclusion of the next Annual General Meeting in 2025. As of April 2, 2024, the company had 57,623,618 shares in issue.
On May 30, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 240,000 class C shares from Carnegie Investment Bank AB (publ). The shares will be repurchased at a price of SEK 0.32 per share. The purpose of the program is to convert the repurchased class C shares into ordinary shares. The repurchases will occur no later than June 30, 2024.
Camurus AB is a Sweden-based research and development based pharmaceutical and biotechnology company with a focus on the development and marketing of specialty medicines, providing patients suffering from severe and chronic disease, such as opioid dependence, pain, cancer, and endocrine diseases. The Company has a diversified research portfolio, which includes products in clinical trials. The Companyâs products are based on FluidCrystal formulation technology. FluidCrystal is Company's patent-protected technology platform. Camurus AB is the parent company of the Group, which comprises of legal entities, namely: Camurus Inc, Cubosome Inc, Development AB, Camurus GmbH, Camurus Ltd, Camurus Oy, Camurus AS, Camurus SAS, Camurus Pty Ltd, Camurus S.L, Camurus ApS, Camurus BV and Camurus Austria GmbH.