- Buyback of up to 200,000 shares
- Mitigate dilution due to exercise of warrants and honor commitments under our restricted stock unit program
- Completion expected by June 30, 2021
Copenhagen, Denmark; February 23, 2021 Genmab A / S (Nasdaq: GMAB) today announced the launch of a share buyback program to mitigate dilution from exercise of warrants and honor our commitments under our restricted share unit program. The share buyback program will be undertaken under the conditions set out below and in accordance with Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052, also known as the Safe Harbor. Regulation.
The purpose of the share repurchase program is to mitigate the dilution caused by the exercise of warrants and to honor our commitments under our restricted share unit program.
The share buyback program will begin on February 24, 2021 and end no later than June 30, 2021 (unless Genmab terminates or suspends the program).
Genmab has appointed Danske Bank as lead manager of the share buyback program. Danske Bank will make its own business decisions and will act independently and without the influence or involvement of Genmab. As part of this share buyback program, Genmab can buy back up to 200,000 shares.
Shares acquired under the program cannot be purchased at a price greater than the higher of (i) the price of the last independent transaction on Nasdaq Copenhagen and (ii) the price of the most independent offer. high on the Nasdaq Copenhagen at the time of the transaction. The total number of shares that can be purchased on a single trading day cannot exceed 25% of the average daily trading volume over the previous 20 trading days on the Nasdaq Copenhagen.
As of February 23, 2021, Genmab held 102,977 treasury shares representing 0.16% of the share capital.
Genmab is entitled to suspend or terminate the program at any time subject to an announcement at Nasdaq Copenhagen.
When the program is launched, Genmab will publish a weekly announcement regarding transactions made under the program.
Genmab is an international biotechnology company whose primary goal is to improve the lives of cancer patients. Founded in 1999, Genmab is the creator of several approved therapeutic antibodies which are marketed by its partners. The company aims to create, develop and commercialize differentiated therapies by leveraging next generation antibody technologies, expertise in antibody biology, translational research and data science and strategic partnerships. To create new therapies, Genmab uses its next generation antibody technologies, which are the result of its collaborative corporate culture and a deep passion for innovation. Genmabs’ proprietary pipeline consists of engineered antibody candidates, including bispecific T-cell gear and next-generation immune checkpoint modulators, effector-enhanced antibodies, and antibody-drug conjugates. The company is headquartered in Copenhagen, Denmark, with sites in Utrecht, the Netherlands, Princeton, New Jersey, the United States and Tokyo, Japan. For more information, please visit Genmab.com.
Marisol Peron, Senior Vice President, Global Investor Relations and Communications
T: +1 609 524 0065; E: [email protected]
For investor relations:
Andrew Carlsen, Senior Director, Head of Investor Relations
T: +45 3377 9558; E: [email protected]
This company announcement contains forward-looking statements. The words believe, expect, anticipate, intend and plan and similar expressions identify forward-looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied in such statements. Important factors that could cause our actual results or performance to vary materially include, but are not limited to, risks associated with preclinical and clinical product development, uncertainties associated with the results and conduct of clinical trials, including unforeseen safety issues, uncertainties related to the product manufacturing, the lack of acceptance of our products in the market, our inability to manage growth, the competitive environment in relation to our industry and our markets, our inability to attract and retain suitably qualified personnel, the inapplicability or lack of protection of our patents and rights, our relationships with affiliated entities, changes and technological developments that may render our products or technologies obsolete, and other factors. For a more in-depth discussion of these risks, please refer to the risk management sections of Genmabs’ latest financial reports, available at www.genmab.com and the risk factors included in Genmabs latest annual report on Form 20-F and other filings from the United States Securities and Exchange Commission (SEC), available at www.sec.gov. Genmab assumes no obligation to update or revise any forward-looking statements in this Company Announcement or to confirm such statements to reflect subsequent events or circumstances after the date of publication or in connection with actual results, unless the law requires it.
Genmab A / S and / or its subsidiaries own the following brands: Genmab; the Y-shaped Genmab logo; Genmab in combination with the Y-shaped Genmab logo; HuMax; DuoBody; DuoBody in combination with the DuoBody logo; HexaBody; HexaBody in combination with the HexaBody logo; DuoHexaBody; HexElect; and UniBody.
Company announcement no. 11
CVR no. 2102 3884
LEI code 529900MTJPDPE4MHJ122
Genmab A / S
Kalvebod Brygge 43
1560 Copenhagen V
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