PureTech Announces Share Buyback Program Update

PureTech Announces Share Buyback Program Update

May 09, 2022 by Business Wire Health News

Key Facts

  • BOSTON--(BUSINESS WIRE)--PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercializing highly differentiated medicines for devastating diseases, announces that, in connection with the $50 million share buyback program announced on 5 May 2022, it is now commencing purchases of the Company’s ordinary shares of one pence each (“Ordinary Shares”) (the “Program”).
  • In respect of the first tranche, PureTech announces that it has entered into an irrevocable non-discretionary instruction with Jefferies International Limited ("Jefferies") in relation to the purchase by Jefferies, acting as principal during the period commencing on 9 May 2022 and ending on the earlier of exhaustion of funds associated with the first tranche or 8 May 2023 (subject to any regulatory objections or concerns), of Ordinary Shares for an aggregate consideration (excluding expenses) of no greater than $25 million and the simultaneous on-sale of such Ordinary Shares by Jefferies to PureTech.
  • Any purchase of Ordinary Shares under the first tranche of the Program will be carried out on the London Stock Exchange and any other UK recognized investment exchange which may be agreed, in accordance with pre-set parameters and in accordance with, and subject to limits, including those limits related to daily volume and price, prescribed by the Company's general authority to repurchase Ordinary Shares granted by its shareholders at its most recent annual general meeting on May 27, 2021, Chapter 12 of the Financial Conduct Authority's UK Listing Rules, Article 5(1) of Regulation (EU) No.
  • All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including those related to the Company’s share buyback program and any future purchases of its ordinary shares thereunder.

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