Bremen, March 04, 2008. Bremen-based 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 September 28, 2007, the Company is authorized to buy back up to ten percent of its own current share capital in accordance with Section 71 (1) No. 8 of the German Stock Corporations Act. MeVis Medical Solutions already holds 37,800 treasury shares. The Management Board decided on March 4, 2008 to initially buy back a further volume of up to 53,200 of the Company’s own shares via the stock market by August 30 of this year. Together with the existing treasury stock, MeVis Medical Solutions will hold up to five percent of its own shares by the end of the stock buy-back program.
The Management Board takes the view that MeVis Medical Solutions stock is not appropriately valued at its current price. By buying back its own stock, the Company wants to gain additional strategic scope in the event of acquisitions, the purchase of intellectual property, investments and similar transactions aimed at implementing its growth strategy. If it is not possible for these transactions to be realized in the foreseeable future, the treasury stock 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 trading 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.