Genmab A/S Genmab Announces Initiation Of Share Buy-Back Program
-- Repurchase of up to 370,000 shares
-- Mitigating dilution from warrant exercises and honoring commitments under
our Restricted Stock Unit program
-- Completion expected on August 31, 2022
COPENHAGEN, Denmark; June 17, 2022 --
Genmab A/S (Nasdaq: GMAB) announced today that it is initiating a
share buy-back program to mitigate dilution from warrant exercises
and honor our commitments under our Restricted Stock Unit program.
The share buy-back program will be undertaken on the terms set out
below and in accordance with Regulation (EU) No. 596/2014 ('MAR')
and the Commission Delegated Regulation (EU) 2016/1052, also
referred to as the "Safe Harbour Regulation."
The purpose of the share buy-back program is to mitigate
dilution caused by warrant exercises and to honor our commitments
under the Restricted Stock Unit program.
The share buy-back program will start on June 20, 2022 and end
on August 31, 2022 (unless Genmab terminates or suspends the
Genmab has appointed Danske Bank as lead manager for the share
buy-back program. Danske Bank will make its own trading decisions
and act independently of and without influence or involvement from
Genmab. Under this share buy-back program Genmab may repurchase up
to 370,000 shares.
Shares acquired under the program cannot be purchased at a price
exceeding the higher of (i) the price of the latest independent
transaction on Nasdaq Copenhagen and (ii) the price of the highest
independent bid on Nasdaq Copenhagen at the time of the
transaction. The total number of shares that may be purchased on a
single trading day may not exceed 25% of the average daily trading
volume over the preceding 20 trading days on Nasdaq Copenhagen.
As of June 17, 2022, Genmab holds 233,885 treasury shares equal
to 0.36 % of the share capital.
Genmab is entitled to suspend or stop the program at any time
subject to announcement to Nasdaq Copenhagen.
Upon initiation of the program, Genmab will issue a weekly
announcement in respect of transactions made under the program.
Genmab is an international biotechnology company with a core
purpose to improve the lives of people with cancer. For more than
20 years, Genmab's vision to transform cancer treatment has driven
its passionate, innovative and collaborative teams to invent
next-generation antibody technology platforms and leverage
translational research and data sciences, fueling multiple
differentiated cancer treatments that make an impact on people's
lives. To develop and deliver novel therapies to patients, Genmab
has formed 20+ strategic partnerships with biotechnology and
pharmaceutical companies. Genmab's proprietary pipeline includes
bispecific T-cell engagers, next-generation immune checkpoint
modulators, effector function enhanced antibodies and antibody-drug
Genmab is headquartered in Copenhagen, Denmark with locations in
Utrecht, the Netherlands, Princeton, New Jersey, U.S. and Tokyo,
Japan. For more information, please visit Genmab.com
and follow us on Twitter.com/Genmab
Marisol Peron, Senior Vice President, Communications and
T: +1 609 524 0065; E: email@example.com
Andrew Carlsen, Vice President, Head of Investor Relations
T: +45 3377 9558; E: firstname.lastname@example.org
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 by such statements. The
important factors that could cause our actual results or
performance to differ materially include, among others, risks
associated with pre-clinical and clinical development of products,
uncertainties related to the outcome and conduct of clinical trials
including unforeseen safety issues, uncertainties related to
product manufacturing, the lack of market acceptance of our
products, our inability to manage growth, the competitive
environment in relation to our business area and markets, our
inability to attract and retain suitably qualified personnel, the
unenforceability or lack of protection of our patents and
proprietary rights, our relationships with affiliated entities,
changes and developments in technology which may render our
products or technologies obsolete, and other factors. For a further
discussion of these risks, please refer to the risk management
sections in Genmab's most recent financial reports, which are
www.genmab.com and the risk factors included in Genmab's most
recent Annual Report on Form 20-F and other filings with the U.S.
Securities and Exchange Commission (SEC), which are available at
www.sec.gov. Genmab does not undertake any obligation to update or
revise forward looking statements in this Company Announcement nor
to confirm such statements to reflect subsequent events or
circumstances after the date made or in relation to actual results,
unless required by law.
Genmab A/S and/or its subsidiaries own the following trademarks:
Genmab(R) ; the Y-shaped Genmab logo(R) ; Genmab in combination
with the Y-shaped Genmab logo(R) ; HuMax(R) ; DuoBody(R) ; DuoBody
in combination with the DuoBody logo(R) ; HexaBody(R) ; HexaBody in
combination with the HexaBody logo(R) ; DuoHexaBody(R) and
Company Announcement no. 22
CVR no. 2102 3884
LEI Code 529900MTJPDPE4MHJ122
Kalvebod Brygge 43
1560 Copenhagen V
-- 170622_CA22_Share Buyback
(END) Dow Jones Newswires
June 17, 2022 10:38 ET (14:38 GMT)
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