UPPSALA, Sweden--(BUSINESS WIRE)--Regulatory News:
Orexo AB (STO:ORX) announces that the company has resolved to issue and immediately thereafter repurchase 135,000 class C shares. The shares are issued and repurchased in accordance with the long-term incentive program, LTIP 2015, which was adopted by the annual general meeting on 15 April 2015.
Danske Bank subscribes for the entire issue of new class C shares at a subscription price of SEK 0.40 per share, equal to the quota value of the shares. The entire issue of class C shares will thereafter be repurchased by Orexo for SEK 0.40 per share.
The purpose of the share issue is to enable the future delivery of ordinary shares to participants in LTIP 2015. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants in LTIP 2015. The class C shares do not entitle to dividends.
About Orexo Orexo is a specialty pharmaceutical company commercializing its proprietary product Zubsolv® for maintenance treatment of opioid dependence in the US. Zubsolv is an advanced formulation of buprenorphine and naloxone using Orexo’s unique knowledge and expertise in sublingual drug delivery. R&D is focusing on reformulation of known substances to new improved products that meet great unmet medical needs by using its patented proprietary technologies. Orexo’s share is listed on Nasdaq Stockholm Exchange Mid Cap (STO: ORX) and is available as ADRs on OTCQX (ORXOY) in the US. Orexo’s global headquarters and R&D are based in Uppsala, Sweden.
For information about Orexo please visit www.orexo.com
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