VENLO, Netherlands, January 25, 2017 /PRNewswire/ --
QIAGEN N.V. (NASDAQ: QGEN; Frankfurt
The conversion ratio was adjusted in accordance with the terms and conditions of the Notes to reflect the impact of a synthetic share repurchase, which combines a direct capital repayment with a reverse stock split. The synthetic share repurchase, which was announced in August 2016 and approved in October 2016 at an Extraordinary General Meeting of Shareholders, involves an approach used by various large, multinational Dutch companies as an efficient way to provide returns to all shareholders, and to do so in a faster and more efficient way than through a traditional open-market share repurchase program.
The terms of the synthetic share repurchase are as follows: every 27 issued QIAGEN shares have been consolidated into 26 QIAGEN shares at close of business on January 24, 2017 and following the implementation of the consolidation, the Company will issue to its shareholders a capital repayment of $1.04 per pre-split share held by each shareholder.
QIAGEN will fund the capital repayment from existing cash reserves and maintains its current non-rated, investment-grade credit profile.
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Contacts: QIAGEN Investor Relations John Gilardi +49-2103-29-11711 e-mail: ir@QIAGEN.com Public Relations Dr. Thomas Theuringer +49-2103-29-11826 e-mail: pr@QIAGEN.com
SOURCE QIAGEN N.V.
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