Purchase of own shares to cover social security fees related to incentive program
STOCKHOLM - August 22, 2013. The Board of Directors of Karolinska Development has decided – within the authorization from the Annual General Meeting on May 14, 2013 – to purchase a maximum of 93,685 shares of Series B.
The purchase will be made from August 28, 2013 to May 13, 2014, which is the day before the Annual General Meeting 2014. The purchase of shares shall take place on NASDAQ OMX Stockholm and may only occur at a price within the share price interval registered at that time. The share price interval is the price interval between the highest buying price and the lowest selling price. The purpose of the purchase is to cover social security fees under the PSP 2013 incentive program that was resolved at the Annual General Meeting in May 14, 2013. Prior to the above decision, Karolinska Development holds 150,600 own shares.
For further information, please contact:
Benjamin Nordin, IRO, Karolinska Development AB
Phone: +46 (0)73 093 60 80, e-mail: firstname.lastname@example.org
TO THE EDITORS
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and investors by developing innovations from world class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading universities, delivers a continuous flow of innovations. Today, the portfolio consists of 35 projects, of which 16 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
Karolinska Development is listed on NASDAQ OMX. Karolinska Development may be required to disclose the information provided herein pursuant to the Securities Markets Act.