VENLO, The Netherlands, September 21, 2012 /PRNewswire/ --
The share repurchase program, announced by QIAGEN N.V. in an ad hoc announcement dated July 24, 2012, will commence on October 1, 2012.
In the time period until November 5, 2012, a first tranche of common shares of the Company having a total purchase price of up to the EUR equivalent amount of USD 10 million (without ancillary purchasing costs) shall be repurchased on the electronic trading platform of the Frankfurt Stock Exchange (XETRA ) exclusively. The first tranche is limited by the repurchase of a total number of max. 570,000 shares. The maximum purchase price per share (excluding ancillary purchase costs) will not exceed by more than 10% the EUR equivalent of the average closing price for the last five trading days prior to the day of purchase on the NASDAQ Global Select Market.
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 27, 2012 to acquire own shares. The repurchase of additional tranches will be decided separately and details will be announced separately.The repurchase program will be carried out on behalf and account of QIAGEN N.V. through a financial institution commissioned by the Company. The financial institution will decide on the timing of the share purchase independently, without being influenced by the Company. The first tranche of the share repurchase program will be implemented in accordance with the trading terms of Art. 5 of the Regulation No. 2273/2003 of the Commission of December 22, 2003 (EC Regulation). In accordance with the EC Regulation, no purchase price may be paid that exceeds the price of the last independent trade or the highest current independent bid on the Frankfurt Stock Exchange. The higher of both values is decisive. In accordance with the EC Regulation, no more than 25% of the average daily volume of shares on the Frankfurt Stock Exchange may be acquired. The average volume of shares is based on the average daily volume traded in the twenty stock exchange trading days preceding the date of the purchase. The share repurchase program may be suspended and resumed at any time, in line with applicable statutory regulations.