Novo Nordisk Approves Stock Split, Changes ADR Ratio

Novo Nordisk A/S (NYSE: NVO) held their Annual General Meeting of Shareholders on March 20, 2001 in which shareholders approved a stock split of the American Depositary Receipts (ADRs), payable in the form of a 3-for-2 dividend. Additionally, Novo Nordisk changed the ADR ratio from two ADRs to one B share to the new ratio of one ADR to one B share. NVO released their announcement through their depositary, J.P. Morgan, on March 23, 2001.

The payable date for the new ADRs is set for April 10, 2001 for shareholders of record as of April 6, 2001 and the stock is expected to trade on a split-adjusted basis on April 11, 2001. Novo Nordisk currently has 139.7 million shares outstanding, 87.4 million in the float, with unlimited shares authorized for issuance.

NVO closed down -4.37 to $95.75 with 14 thousand shares trading hands on Tuesday.

About the Company:

Novo Nordisk is a focused healthcare company and the world leader in diabetes care. In addition, Novo Nordisk has a leading position within areas such as coagulation disorders, growth disorders and hormone replacement therapy. Novo Nordisk manufactures and markets pharmaceutical products and services that make a significant difference to patients, the medical profession and society. With headquarters in Denmark, Novo Nordisk employs approximately 14,000 people in 68 countries and markets its products in 179 countries. (company press release)

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