Biotage Postpones the AGM Until June 4, 2020
UPPSALA, Sweden, March 26, 2020 /PRNewswire/ -- The developing spread of the outbreak of the coronavirus COVID-19 is causing great difficulties to access with accuracy the economic situation for the society as such but also for Biotage and its customers. Authorities around the globe have introduced restrictions for events and travels. Biotage has also introduced meeting restrictions and encouraged employees to work from home when possible, all for the good of limiting the spread of the virus amongst employees and society. Many of our customers are applying equivalent restrictions.
Biotage has a healthy business and a track record of increased share dividends. The Board of Director's dividend proposal for 2019 was motivated by the company's strong finances and solid financial result. Biotage still has a good financial situation but at the same time, the effects from COVID-19 are creating uncertainties about how the company's business will develop. And in particular when you take into consideration how fast the conditions are changing, Biotage's Board of Directors has made the judgement that they for precautionary reasons need more time for analysis and assessment of the situation before evaluating the dividend proposal for 2019 as regards amount and timing. As a result, the Biotage Board of Directors has made the decision today to postpone the AGM until Thursday June 4, 2020, and then also with the hope that the COVID-19 situation has improved so that shareholders may attend the AGM safely.
This information was submitted for publication, through the agency of the contact persons set out above, at 5.00pm CET on March 26, 2020.
Biotage offers efficient separation technologies from analysis to industrial scale and high quality solutions for analytical chemistry from research to commercial analysis laboratories. Biotage's products are used by government authorities, academic institutions, contract research and contract manufacturing companies, pharmaceutical and food companies, among others. The company is headquartered in Uppsala and has offices in the US, UK, China, Japan, South Korea and India. Biotage has approx. 460 employees and had sales of 1 101 MSEK in 2019. Biotage is listed on NASDAQ Stockholm. Website: www.biotage.com
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