UPPSALA, Sweden, June 16, 2017 /PRNewswire/ --
Orexo AB (publ.) announces that the company has resolved to issue and immediately thereafter repurchase 230,000 class C shares. The shares are issued and repurchased in accordance with the long-term incentive program, LTIP 2017, which was adopted by the annual general meeting on April 6, 2017.
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 those participating in LTIP 2017. The class C shares will be converted into ordinary shares prior to delivery to qualifying participants in LTIP 2017. The class C shares do not entitle to dividends.
Orexo develops improved pharmaceuticals based on innovative drug delivery technologies. The focus is primarily on opioid dependence and pain but the aim is to address therapeutic areas where our competence and technologies can create value. The main market today is the US market for the treatment of opioid dependence where the product Zubsolv® is commercialized by Orexo. Other products are commercialized by license partners, including Zubsolv in markets outside of the US. Total net sales for 2016 amounted to SEK 705.9 million and the number of employees was 102. Orexo is listed on the Nasdaq Stockholm Mid Cap (ORX) index and is available as ADRs on OTCQX (ORXOY) in the US. The head office, where also research and development is performed, is located in Uppsala, Sweden.
For more information about Orexo please visit, www.orexo.com. You can also follow Orexo on Twitter, @orexoabpubl, LinkedIn and YouTube. For more information about Zubsolv in the US, see the product and market websites www.zubsolv.com and www.rise-us.com.
This information is information that Orexo AB (publ.) is obliged to make public in accordance with the Swedish Financial Instruments Trading Act. The information was submitted for publication at 5.45 pm CET on June 16, 2017
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