DUBLIN--(BUSINESS WIRE)--
ICON
plc, (Nasdaq: ICLR), a global provider of outsourced
development services to the pharmaceutical, biotechnology and medical
device industries, announced today that it has completed a $40 million
buyback of the Company's ordinary shares through open market
acquisitions at an average price of $49.87. In addition, the Company
announced a further program under which the Company can acquire (by way
of redemption) up to an additional $100 million of its outstanding
ordinary shares through open market share acquisitions.
All share acquisitions will be carried out by way of redemption in
accordance with Irish law, the US securities laws and the Company's
constitutional documents. All shares so redeemed will be canceled upon
redemption. The total number of shares that will be redeemed under the
new program will be subject to market conditions.
Commenting on the buyback program, Brendan Brennan, Chief Financial
Officer ICON plc, stated "Our buyback program is an important element
of how we are looking to optimise the capital structure of the Company
and is a good example of how ICON remains focused on enhancing value for
our shareholders."
This press release contains forward-looking statements. These statements
are based on management's current expectations and information currently
available, including current economic and industry conditions. These
statements are not guarantees of future performance or actual results,
and actual results, developments and business decisions may differ from
those stated in this press release. The forward-looking statements are
subject to future events, risks, uncertainties and other factors that
could cause actual results to differ materially from those projected in
the statements, including, but not limited to, the ability to enter into
new contracts, maintain client relationships, manage the opening of new
offices and offering of new services, the integration of new business
mergers and acquisitions, as well as economic and global market
conditions and other risks and uncertainties detailed from time to time
in SEC reports filed by ICON, all of which are difficult to predict and
some of which are beyond our control. For these reasons, you should not
place undue reliance on these forward-looking statements when making
investment decisions. The word "expected" and variations of such words
and similar expressions are intended to identify forward-looking
statements. Forward-looking statements are only as of the date they are
made and we do not undertake any obligation to update publicly any
forward-looking statement, either as a result of new information, future
events or otherwise. More information about the risks and uncertainties
relating to these forward-looking statements may be found in SEC reports
filed by ICON, including its Form 20-F, F-1, S-8 and F-3, which are
available on the SEC's website at http://www.sec.gov.
ICON plc is a global provider of outsourced development services
to the pharmaceutical, biotechnology and medical device industries. The
company specialises in the strategic development, management and
analysis of programs that support clinical development - from compound
selection to Phase I-IV clinical studies. With headquarters in Dublin,
Ireland, ICON currently, operates from 83 locations in 38 countries and
has approximately 11,000 employees. Further information is available at www.iconplc.com.
Source: ICON plc
ICON/ICLR-F
ICON plc
Investor Relations
1-888-381-7923
or
Brendan
Brennan
Chief Financial Officer
+ 353 -1-291-2000
or
Simon
Holmes
EVP Investor Relations and Corporate Development
+ 353
-1-291-2000
Source: ICON plc
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