Bremen, November 4, 2008 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a specialist in disease-oriented software products for image-based medicine, is launching a stock buy-back program.
Under a resolution passed at the annual general meeting on July 9, 2008, the Company is authorized to buy back up to 10 percent of its own current share capital in accordance with Section 71 (1) Sentence 1 No. 8 of the German Stock Corporations Act. MeVis Medical Solutions currently holds 91,000 own shares, which accounts for 5 percent of the Company’s share capital.
The Executive Board decided on November 4, 2008 to buy back a further volume of up to 91,000 of the Company’s own shares via the stock market by March 31, 2009. Together with the shares currently held in treasury, MeVis Medical Solutions may hold up to 10 percent of its own shares by the end of this stock buy-back program.
By repurchasing its own shares, the Company wants to gain additional strategic scope in the event of acquisitions, the purchase of intellectual property, investments and similar transactions aimed at further implementing its growth strategy. Unless these transactions can be realized in the foreseeable future, the shares held by the Company in treasury can also be cancelled.
The buyback is being executed by M.M. Warburg & CO in accordance with the provisions of EU Regulation 2273/2003 of December 22, 2003 independently and free of any influence on the part of the Company. In accordance with the wording of the resolution passed by the shareholders at the annual general meeting, the purchase price of the shares (excluding transactions costs) must not be any more than five percent above or below the average price at which the Company’s stock has been traded in the closing auction of the Frankfurt stock exchange Xetra trading system on the five trading days immediately preceding the acquisition.
Information on the progress of the stock buy-back program will be regularly updated at MeVis Medical Solution AG’s website.