MorphoSys AG to Start Share Buy-Back Program
Published: Apr 02, 2012
MARTINSRIED, GERMANY and MUNICH, GERMANY--(Marketwire - April 02, 2012) -
MorphoSys AG / MorphoSys to Start Share Buy-Back Program.
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MorphoSys AG (FSE: MOR; Prime Standard Segment; TecDAX) announced today the decision to repurchase its own shares on the stock market. Following approval by the Company's Supervisory Board, the Board of Management of MorphoSys AG has resolved to acquire up to 100,000 MorphoSys shares over the stock market during the time period from April 1, 2012 to April 30, 2012. The shares will be used to implement the Company's long-term incentive program 2012 for its management.
The relevant conditions of the shareholders' resolutions passed in the ordinary shareholders' meeting 2011 of MorphoSys AG on the authorization to acquire and to use its own shares shall apply. The purchase price paid per share may not be more than 10 % higher or 20 % lower than the Company's share price determined by the opening auction in the Xetra trading system on the day of trading. On the basis of the current share price (status: March 30, 2012), this would amount to around EUR 1.76 million or up to 0.4% of the share capital.
The buy-back is to be handled independently of and uninfluenced by the Company through an appointed bank in compliance with the safe-harbor provisions.
MorphoSys will provide regular information on the progress of the share buy-back program on the Company's website www.morphosys.com.
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare. The Company's AbD Serotec unit uses HuCAL and other technologies to generate superior monoclonal antibodies for research and diagnostic applications. Through its own development efforts and successful partnerships in the pharmaceutical industry, MorphoSys has built a therapeutic pipeline of more than 70 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on engineering the medicines of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT® and arYla® are registered trademarks of MorphoSys AG. Ylanthia® and 100 billion high potentialsTM are trademarks of MorphoSys AG.
Slonomics® is a registered trademark of Sloning BioTechnology GmbH, a subsidiary of MorphoSys AG.
This communication contains certain forward-looking statements concerning the MorphoSys group of companies. The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties. Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated. MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned.
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Source: MorphoSys AG via Thomson Reuters ONE [HUG#1599183]
For more information, please contact:
Dr. Claudia Gutjahr-Loser
Head of Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-122
Senior Manager Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-454
Specialist Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-332