VENLO, Netherlands--(BUSINESS WIRE)--QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announces that it will initiate the repurchase of a first tranche of shares under the share repurchase program which was announced by an ad hoc announcement dated January 31, 2018.
In the time period between May 15, 2018 until August 20, 2018, at the latest, a first tranche of up to 1.65 million common shares of the Company having a total purchase price of up to USD 50 million (or the equivalent Euro amount thereof, in each case without ancillary purchasing costs) shall be repurchased exclusively on the electronic trading platform of the Frankfurt Stock Exchange (XETRA). The maximum purchase price per share (excluding ancillary purchase costs) will not exceed the average closing price for the last five trading days prior to the day of purchase on the electronic trading platform of the Frankfurt Stock Exchange by more than 10%.
The purpose of the share repurchase is to hold the shares in treasury in order to satisfy obligations from exchangeable debt instruments and/or employee share-based remuneration plans. The Managing Board of QIAGEN N.V., upon authorization of the Supervisory Board, is thus exercising the authorization by the Annual General Meeting on June 21, 2017 to acquire own shares.
The full statement can be found here