ICON plc: Commencement of Share Repurchase Programme
22 Novembro 2011 - 8:05PM
Business Wire
ICON plc (NASDAQ:ICLR) (ISIN:IE0005711209), a
global provider of outsourced development services to the
pharmaceutical, biotechnology and medical device industries, today
announced that it will now begin to repurchase shares pursuant to
the approval by its Board of Directors of a share buyback of up to
$50m, as indicated in the Company’s Q3 results issued on 27 October
2011. ICON has now entered into a share repurchase plan, and
currently intends to enter into further share repurchase plans, to
effect the share repurchase programme in accordance with Rule
10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, the
authorisation granted at the Company’s annual general meeting on 18
July 2011, applicable laws and regulations and the Listing Rules of
the Irish Stock Exchange.
Under the repurchase programme, a broker will purchase the
Company’s American Depositary Shares (“ADSs”) from time to time on
the open market or in privately negotiated transactions in
accordance with agreed terms and limitations. ADSs purchased will
be deposited with the Depositary under the Company’s ADR facility
against delivery of the underlying Ordinary Shares, which will be
repurchased by the Company on the Irish Stock Exchange in
compliance with the Company’s share repurchase authorisation and
applicable laws and regulations. Separately, Ordinary Shares traded
on the Irish Stock Exchange may also be repurchased on behalf of
the Company.
The programme is designed to allow share repurchases during
periods when the Company would ordinarily not be permitted to do so
because it may be in possession of material non-public or
price-sensitive information, applicable insider trading laws or
self-imposed trading blackout periods. The Company’s instructions
to the broker are irrevocable and the trading decisions in respect
of the repurchase programme will be made independently of and
uninfluenced by the Company. ICON confirms that it currently has no
material non-public, price-sensitive or inside information
regarding the Company or its securities, and it will not enter into
further plans whilst in possession of such information.
The timing and actual number of shares repurchased will be
dependent on market conditions, legal and regulatory requirements
and the other terms and limitations contained in the plans. In
addition, share repurchases may be suspended or discontinued in
certain circumstances in accordance with the agreed terms.
Therefore, there can be no assurance as to the timing or number of
shares that may be repurchased under the repurchase programme. All
Ordinary Shares repurchased by ICON will be cancelled. As outlined
at the time of the Q3 2011 results the Company currently intends to
complete repurchases within a 12 month period.
The statements made in this press release may contain
forward-looking statements that involve a number of risks and
uncertainties. In addition to the matters described in this press
release, the effect of market conditions and legal and regulatory
requirements on the Company’s share repurchases, as well as other
risks and uncertainties detailed from time to time in SEC reports
filed by ICON, including its Annual Report on Form 20-F, may affect
the actual results achieved by ICON. ICON disclaims any intent or
obligation to update these forward-looking statements.
ICON plc is a global provider of outsourced development services
to the pharmaceutical, biotechnology and medical device industries.
The Company specialises in the strategic development, management
and analysis of programs that support clinical development - from
compound selection to Phase I-IV clinical studies. With
headquarters in Dublin, Ireland, ICON currently, operates from 79
locations in 39 countries and has approximately 8,350 employees.
Further information is available at www.iconplc.com.
Source: ICON plc
ICON/ICLR-F
ICON (NASDAQ:ICLR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
ICON (NASDAQ:ICLR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024