Pronova BioPharma share buy back

Pronova BioPharma ASA (OSE: PRON.OL) ("Pronova BioPharma" or the "company") has on 14 November 2008 purchased 54 000 of its own shares in the market at a price of NOK 23,00 per share and intends to purchase an additional 37 000 shares in the market. After this transaction, the company holds 163 000 shares.  Pronova BioPharma ASA has entered into an agreement to sell 200 000 of the company's shares to Per-Oluf Olsen, who will take over as CEO of the company after Tomas Settevik. This sale will be effected once Per-Oluf Olsen has assumed the position of CEO. Following the completion of these transactions, Pronova BioPharma ASA will not hold any of its own shares.

 
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