Orion transfers 536,417.43 euros worth of B-shares

Orion has transferred a number of its own B-shares amounting in value to 536,417.43 euros (476,109.92 pounds).

In accordance with a decision made by the board of directors, the company reassigned 44,806 of the stakes as a 2008 bonus to employees as part of a share-based incentive plan.

On March 5th 2009, the volume weighted average quotation of each unit was 11.972 euros, which was the price per share that was transferred.

After the operation, the total number left held by Orion was 280,030.

This week, the firm released its 2008 annual report, which revealed its net sale had increased by 4.5 per cent in comparison the previous year to 710.7 million euros.

According to Timo Lappalainen, president and chief executive officer of the business, the current financial crisis did not have a “material effect” on the firm last year.

In the report, he also noted that Orion’s visions is to be “an innovative European pharmaceuticals and diagnostics company”, adding that in order to achieve this, it would have to work closely alongside its partners.