Issue Of New Treasury Shares Of BioTie Therapies Corp. Without Consideration And Cancellation Of Shares Held By Biotie Therapies Ag
Issue of new treasury shares of Biotie Therapies Corp without consideration and cancellation of shares held by Biotie Therapies AG
Pursuant to the authorization of the Annual General Meeting of Shareholders held on 3 April 2014, the Board of Directors of Biotie Therapies Corp. has resolved to issue 2,447,375 shares ("Treasury Shares") to the Company itself without consideration in accordance with Chapter 9 Section 20 of the Finnish Companies Act (624/2006, as amended). The Treasury Shares are issued for the purposes of being conveyed to employees entitled to them pursuant to the terms and conditions of the Stock Option Plan 2011 and the Equity Incentive Plan 2011 ("Plans"). The Treasury Shares are of the same class as the existing shares in the Company.
The Treasury Shares will be registered without delay so that the Treasury Shares will be entered into the Finnish Trade Register on or about 23 December 2014. An application will be filed for registration of the Treasury Shares in the book -entry system maintained by Euroclear Finland Ltd, and to apply for listing of the Treasury Shares in NASDAQ OMX Helsinki Ltd after the Treasury Shares have been registered.
Further, the Board of Directors of Biotie Therapies Corp. has pursuant to an application by its Swiss subsidiary, Biotie Therapies AG, resolved to cancel 2,511,599 shares in the Company that are held as treasury shares by Biotie Therapies AG, and which it no longer requires to settle exercises of options under the Synosia option plan. The cancellation will be registered with the Finnish trade register on or about 23 December 2014 and upon registration the number of issued Biotie shares will reduce by 2,511,599 shares.
After the registration of the new shares and the cancellation of shares held by Biotie Therapies AG with the Finnish Trade Register, Biotie will have 455,968,174 issued shares of which 450,696,015 will be outstanding shares. Should all the new Treasury Shares be conveyed to employees, then this will represent a 0.54 per cent of the current number of outstanding shares. The total number of the Company's shares after the share issue held by the Company or its fully owned subsidiary is 5,272,159 shares (1.16 per cent).
It is expected that under the terms of the Plans the new Treasury Shares will be conveyed to employees at a number of times during the period of January 2015 to 28 February 2016.
Turku, 17 December 2014
Biotie Therapies Corp.
Timo Veromaa, President and CEO
For further information, please contact:
Virve Nurmi, Investor Relations Manager, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com
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Pursuant to the authorization of the Annual General Meeting of Shareholders held on 3 April 2014, the Board of Directors of Biotie Therapies Corp. has resolved to issue 2,447,375 shares ("Treasury Shares") to the Company itself without consideration in accordance with Chapter 9 Section 20 of the Finnish Companies Act (624/2006, as amended). The Treasury Shares are issued for the purposes of being conveyed to employees entitled to them pursuant to the terms and conditions of the Stock Option Plan 2011 and the Equity Incentive Plan 2011 ("Plans"). The Treasury Shares are of the same class as the existing shares in the Company.
The Treasury Shares will be registered without delay so that the Treasury Shares will be entered into the Finnish Trade Register on or about 23 December 2014. An application will be filed for registration of the Treasury Shares in the book -entry system maintained by Euroclear Finland Ltd, and to apply for listing of the Treasury Shares in NASDAQ OMX Helsinki Ltd after the Treasury Shares have been registered.
Further, the Board of Directors of Biotie Therapies Corp. has pursuant to an application by its Swiss subsidiary, Biotie Therapies AG, resolved to cancel 2,511,599 shares in the Company that are held as treasury shares by Biotie Therapies AG, and which it no longer requires to settle exercises of options under the Synosia option plan. The cancellation will be registered with the Finnish trade register on or about 23 December 2014 and upon registration the number of issued Biotie shares will reduce by 2,511,599 shares.
After the registration of the new shares and the cancellation of shares held by Biotie Therapies AG with the Finnish Trade Register, Biotie will have 455,968,174 issued shares of which 450,696,015 will be outstanding shares. Should all the new Treasury Shares be conveyed to employees, then this will represent a 0.54 per cent of the current number of outstanding shares. The total number of the Company's shares after the share issue held by the Company or its fully owned subsidiary is 5,272,159 shares (1.16 per cent).
It is expected that under the terms of the Plans the new Treasury Shares will be conveyed to employees at a number of times during the period of January 2015 to 28 February 2016.
Turku, 17 December 2014
Biotie Therapies Corp.
Timo Veromaa, President and CEO
For further information, please contact:
Virve Nurmi, Investor Relations Manager, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com
Help employers find you! Check out all the jobs and post your resume.