Bremen, March 31, 2009 - Today Bremen-based MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a specialist in disease-oriented software products for image-based medicine, terminated its stock buy-back program as scheduled.
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.
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 until March 31, 2009. Under this stock repurchase program, the Company has acquired 33,682 of its own shares as of today’s date resulting in total expenses of EUR 1.16 million. All the stock was bought via the Xetra electronic trading platform and on the floor of the Frankfurt stock exchange via M.M. Warburg & CO.
At the launching date of this stock buy-back program the Company already held 91,000 of its own shares in treasury, representing 5 percent of its share capital. As a result, MeVis Medical Solutions AG’s treasury stock currently amounts to a total of 122,850 shares, representing 6.75 percent of its current share capital. On November 21, 2008 the Company used 1,832 of its own shares for the acquisition of intellectual property in the area of virtual colonoscopy.
By repurchasing its own shares, the Company intends 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 treasury stock held by the Company can also be redeemed. The Executive Board regards a 6.75 percent share appropriate to realize the strategic goals pursued with the buy-back program.
Detailed information on the progress of the stock buy-back program to date is published in accordance with Art. 4 (3) and (4) of Commission Regulation (EC) No 2273/2003 of December 22, 2003 as regards exemptions for buy-back programs and stabilization of financial instruments in connection with Article 20 (1) of Council Directive 93/22/EEC of May 10, 1993 on investment services in the securities field is available at the Company’s website at www.mevis.de.