VENLO, Netherlands, August 14, 2016 /PRNewswire/ --
QIAGEN N.V. (NASDAQ: QGEN; Frankfurt
These actions, which will lead to an adjustment in QIAGEN's share capital, have been used previously by other large, multinational Dutch companies as an efficient way to provide returns to shareholders. The proposal, if adopted, is expected to be similar to QIAGEN repurchasing approximately $250 million of its own shares, but will enable the return of capital to all shareholders in a much faster and more efficient way than through a traditional open-market repurchase program.
QIAGEN intends to fund the capital repayment, which forms part of a commitment announced in July 2016 to return $300 million to shareholders by the end of 2017, from existing cash reserves and expects to maintain its current non-rated, investment-grade credit profile. The adjustment to QIAGEN's capital structure will be proposed at an Extraordinary General Meeting of Shareholders (EGM), which is scheduled to take place in October 2016. The related series of transactions are expected to be completed in early January 2017, in part due to a Dutch legal requirement for a two-month creditor objection period after shareholder approval of the proposal. No Dutch dividend withholding tax is expected to be applicable.
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Contact: Public Relations: Dr. Thomas Theuringer Senior Director Public Relations +49 2103 29 11826 Email: [email protected] http://www.twitter.com/qiagen https://www.facebook.com/QIAGEN pr.qiagen.com Investor Relations: John Gilardi Vice President Corporate Communications and Investor Relations +49 2103 29 11711 Email: [email protected] ir.qiagen.com
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