Genmab Announces Initiation of Share Buy-Back Program
14 Februar 2024 - 5:41PM
Company Announcement
- Repurchase of up to 190,000 shares
- Honoring commitments under our Restricted Stock Unit
program
- Completion expected on March 15,
2024
COPENHAGEN, Denmark; February 14, 2024 –
Genmab A/S (Nasdaq: GMAB) announced today
that it is initiating a share buy-back program to 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.”
Purpose The purpose of the share buy-back
program is to honor our commitments under the Restricted Stock Unit
program.
Time frame The share
buy-back program will start on February 15, 2024, and end on March
15, 2024 (unless Genmab terminates or suspends the program).
Terms 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 190,000 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 February 14, 2024, Genmab holds 735,891 treasury shares
equal to 1.11% 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.
About Genmab Genmab is an
international biotechnology company with a core purpose guiding its
unstoppable team to strive towards improving the lives of patients
through innovative and differentiated antibody therapeutics. For
more than 20 years, its passionate, innovative and collaborative
team has invented next-generation antibody technology platforms and
leveraged translational research and data sciences, which has
resulted in a proprietary pipeline including bispecific T-cell
engagers, next-generation immune checkpoint modulators, effector
function enhanced antibodies and antibody-drug conjugates. To help
develop and deliver novel antibody therapies to patients, Genmab
has formed 20+ strategic partnerships with biotechnology and
pharmaceutical companies. By 2030, Genmab’s vision is to transform
the lives of people with cancer and other serious diseases with
Knock-Your-Socks-Off (KYSO®) antibody medicines.
Established in 1999, 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 X.com/Genmab.
Contact: Marisol
Peron, Senior Vice President, Global Communications & Corporate
AffairsT: +1 609 524 0065; E: mmp@genmab.com
Andrew Carlsen, Vice President, Head of Investor RelationsT: +45
3377 9558; E: acn@genmab.com 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 available on 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®; the Y-shaped Genmab logo®; Genmab in
combination with the Y-shaped Genmab logo®; HuMax®; DuoBody®;
HexaBody®; DuoHexaBody®, HexElect® and KYSO®.
Company Announcement no. 06 CVR no. 2102 3884 LEI Code
529900MTJPDPE4MHJ122
Genmab A/SCarl Jacobsens Vej 302500 Valby Denmark
- 240214_CA06_Initiation of Share Buyback Program
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