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Forward Pharma shareholders approve capital reduction

Forward Pharma A/S shareholders approved a previously announced capital reduction under which the company will buy about €917.7 million worth of shares at €19.45 apiece.

The vote was held at the company's Aug. 2 extraordinary general meeting.

The company said that based on a ruling by Danish tax authorities, it will not withhold any part of the proceeds from the planned distribution to its shareholders and holders of its American depositary shares.

The program is subject to a four-week waiting period from the publication date of the extraordinary general meeting's resolution by the Danish Business Authority.