QIAGEN To Change NASDAQ Symbol for its Common Shares to QGEN
VENLO, The Netherlands, February 14, 2005 - QIAGEN N.V. (Nasdaq: QGENF ; Frankfurt, Prime Standard: QIA) today announced that it has filed an application with the Nasdaq stock market to change the trading symbol for its common shares. QIAGEN has been informed by Nasdaq that effective February 15, 2005 QIAGEN's common shares will be traded on the Nasdaq stock market under the new symbol QGEN.
In 1996, when QIAGEN was first listed on the Nasdaq National Market System, the Nasdaq required QIAGEN to append the letter "F" to its trading symbol to indicate that it was a foreign private issuer. In 2004 Nasdaq decided that companies, although still foreign private issuers, no longer need to comply with this rule. QIAGEN believes that this change of its trading symbol is in the best interests of QIAGEN and its shareholders.
"QIAGEN is a globally acting company with its largest base of business activities and share ownership in the US," said Roland Sackers, QIAGEN's Chief Financial Officer. "We are generating approximately 50% of our revenues in the U.S. As of today, we believe that institutional and retail investors in the United States hold approximately 30-40% of the common shares in QIAGEN's free float. A change of our ticker symbol to QGEN has been requested by many of our shareholders. We are very pleased that Nasdaq has ceased to require non-US companies to trade under a differentiating stock symbol."
About QIAGEN: QIAGEN N.V., a Netherlands holding company with subsidiaries in Germany, the United States, Japan, the United Kingdom, Switzerland, France, Italy, Australia, Norway, Austria, Canada, and the Netherlands believes it is the world's leading provider of innovative enabling technologies and products for the separation, purification and handling of nucleic acids and proteins. QIAGEN has developed a comprehensive portfolio of more than 320 proprietary, consumable products for nucleic acid and protein separation, purification and handling, nucleic acid amplification, as well as automated instrumentation, synthetic nucleic acid products and related services. QIAGEN's products are sold in more than 42 countries throughout the world to academic research markets and to leading pharmaceutical and biotechnology companies. In addition, QIAGEN is positioning its products for sale into developing commercial markets, including DNA sequencing and genomics, nucleic acid-based molecular diagnostics, and genetic vaccination and gene therapy. QIAGEN employs approximately 1,400 people worldwide. Further information on QIAGEN can be found at http://www.qiagen.com/.
Certain of the statements contained in this news release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products, markets, strategy or operating results are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations and risks of dependency on logistics), variability of operating results, the commercial development of the DNA sequencing, genomics and proteomics markets, nucleic acid-based molecular diagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for QIAGEN's, products (including seasonal fluctuations), difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products, the ability of QIAGEN to identify and develop new products and to differentiate its products from competitors, market acceptance of QIAGEN's new products and the integration of acquisitions of technologies and businesses. For further information, refer to the discussion in reports that QIAGEN has filed with the U.S. Securities and Exchange Commission (SEC).
IR QIAGEN N.V.
Phone: +49 2103 29 11710
Fax: +49 2103 29 21710