IPSEN Issues Regulatory Framework Of Share Repurchase Program - Quick Facts

(RTTNews) - Biopharmaceutical company IPSEN (IPSEY) issued details of the proposed authorization to repurchase own shares to be approved at the combined shareholders' meeting on 31 May 2023. The maximum theoretical number of shares that may be repurchased would be 7,219,040, representing about 8.61% of the share capital. The maximum purchase price proposed to the shareholders' meeting is set at 200 euros per share. As a result, the theoretical maximum amount likely to be devoted to these repurchase would be set by the meeting at 1.68 billion euros based on a number of 83,814,526 shares.

The company noted that any repurchase of shares may be implemented within a period of 18 months following the date of the shareholders' meeting, i.e. until 30 November 2024. The authorization will cancel and supersede the previous authorization granted by the shareholders' meeting on 24 May 2022.