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UPPSALA, Sweden--(BUSINESS WIRE)--Regulatory News: The board of directors of Biotage AB (publ)(STO:BIOTA) has resolved to start a share buy-back program in accordance with the Annual General Meeting’s resolution to authorize the board to decide on the acquisition and sale of the company’s own shares.
At the Annual General Meeting held on 25 April 2013, the board was authorized to decide on the acquisition and sale of the company’s own shares up and until the forthcoming Annual General Meeting. The shares acquired may not exceed 10 per cent of the total number of outstanding Biotage shares at any time. The purpose of the repurchase program is to give the board a wider freedom of action in the work with the company’s capital structure and thereby improve shareholder value. Acquisition and sale of shares will take place on the NASDAQ OMX Stockholm at a price within the price interval at any time recorded. Biotage currently owns 3,394,375 of its own shares, which the Annual General Meeting held on 25 April 2013 resolved to withdraw. Following the completion of the withdrawal of these shares, the total number of outstanding shares will be 69,861,330.
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