The extraordinary shareholders' meeting took place today, September, 18th, in Zurich. The shareholders approved the proposal of the board to reduce the capital. The measures taken to reduce the discount will be continued.
Schaffhausen, 18. September 2006. The extraordinary shareholders' meeting took place today, September, 18th, in Zurich. The shareholders approved the board's proposal to cancel 1'800'000 shares of BB BIOTECH, which were bought during the repurchase program. Accordingly, BB BIOTECH's share capital is being reduced from CHF 25'700'000 to actually CHF 23'900'000.
Through this measure the necessary flexibility for the ongoing repurchase program is maintained. The intention to limit the discount at a level of 10% is unchanged. All parts of the bundle of measures like the discount dependend dividend model will be continued.
The exact cause of the discount is unclear. The market sentiment has a significant impact, especially in times of big premium and big discount. Single measures to reduce the discount work only to a limited extent. Therefore, BB BIOTECH has decided to implement a bundle of measures. Since their implementation and thanks to an improved market sentiment the discount has subsequently been reduced. The fundamental progress of the sector and BB BIOTECH NAV's successful performance are so far not reflected within the discount.
For further information please contact: Swissfirst Asset Management AG, Seestrasse 16, 8700 Küsnacht, Switzerland Dr. Christian Lach or Adrian Brungger, Tel. +41 44 267 67 00
Please find the press release under the following link:
Viðskiptablaðið er 25 ára og af því tilefni býðst nýjum áskrifendum að kaupa áskrift á 50% afslætti.
Afmælisverðið er aðeins 2.500 krónur.
Tilboðið er fyrir nýja áskrifendur. Núverandi áskrifendur geta bætt við sig áskrift á þessu verði. Gildir í 4 mánuði. Áskrifendur fá Viðskiptablaðið, Frjálsa verslun og Fiskifréttir sent ásamt vefaðgangi að vb.is og fiskifrettir.is