MARTINSRIED / MUNICH, Germany, Feb. 24, 2016 (GLOBE NEWSWIRE) -- The Management Board of MorphoSys AG (FSE: MOR; Prime Standard Segment, TecDAX; OTC: MPSYY) today announced with the approval of the Supervisory Board the decision to repurchase its own shares over the stock market for a total purchase price of up to EUR 2.18 million (excluding ancillary costs). The share buy-back will take place between March 3 and March 10, 2016, and is based on the authorization of the Annual General Meeting on May 23, 2014. On the basis of the current share price (EUR 37.47; Xetra closing price as of February 23, 2016), the total purchasing volume amounts to up to 58,179 shares or 0.22% of the registered share capital of the Company.
The Company intends to use the shares for its long-term incentive programs for its Executive Board and the Senior Management Group, but the shares can also be used for all other legally permitted purposes stated in the authorization of the Annual General Meeting of 2014.
The relevant conditions of the shareholders' resolution passed in the Annual General Meeting 2014 on the authorization to acquire and to use its own shares shall apply. The purchase price paid per share may not be more than 10% higher or 20% lower than the Company's share price determined by the opening auction in the Xetra trading system on the day of trading.
The share buy-back is to be handled independently of and uninfluenced by the Company through an appointed bank in compliance with the safe-harbor provisions.
MorphoSys will provide regular information on the progress of the share buy-back program on the Company's website www.morphosys.com/share-buyback.
MorphoSys developed HuCAL, the most successful antibody library technology in the pharmaceutical industry. By successfully applying this and other patented technologies, MorphoSys has become a leader in the field of therapeutic antibodies, one of the fastest-growing drug classes in human healthcare.
Together with its pharmaceutical partners, MorphoSys has built a therapeutic pipeline of more than 100 human antibody drug candidates for the treatment of cancer, rheumatoid arthritis, and Alzheimer's disease, to name just a few. With its ongoing commitment to new antibody technology and drug development, MorphoSys is focused on making the healthcare products of tomorrow. MorphoSys is listed on the Frankfurt Stock Exchange under the symbol MOR. For regular updates about MorphoSys, visit http://www.morphosys.com.
HuCAL®, HuCAL GOLD®, HuCAL PLATINUM®, CysDisplay®, RapMAT®, arYla®, Ylanthia®, 100 billion high potentials®, Slonomics®, Lanthio Pharma® and LanthioPep® are registered trademarks of the MorphoSys Group.
This communication contains certain forward-looking statements concerning the MorphoSys group of companies, The forward-looking statements contained herein represent the judgment of MorphoSys as of the date of this release and involve risks and uncertainties, Should actual conditions differ from the Company's assumptions, actual results and actions may differ from those anticipated, MorphoSys does not intend to update any of these forward-looking statements as far as the wording of the relevant press release is concerned
For more information, please contact:
Dr. Claudia Gutjahr-Löser
Head of Corporate Communications & IR
Senior Manager Corporate Communications & IR
Associate Director Corporate Communications & IR
Tel: +49 (0) 89 / 899 27-404
Media release (PDF) http://hugin.info/130295/R/1989026/730445.pdf
Source: MorphoSys AG