Copenhagen, 2011-08-30 17:39 CEST (GLOBE NEWSWIRE) -- Acting on its authorization to acquire up to 15% of the company’s shares the GN Store Nord Board of Directors initiated a share buyback program on August 11, 2011 in accordance with the provisions of the European Commission’s regulation no 2273/2003 of 22 December 2003, also referred to as the Safe Harbour rules (Company announcement no. 26 of August 10, 2011).
The share buyback program has been initiated in order to reduce the company’s share capital. Under the share buyback program which is running from August 11, 2011 and ending no later than November 9, 2011, GN intends to buy back shares in the company for an amount of up to DKK 200 million.
The following transactions have been made under the program in the period August 22 - August 30, 2011:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| August 22, 2011 | 175,000 | 33.48 | 5,858,405 |
| August 23, 2011 | 42,751 | 33.59 | 1,435,985 |
| August 24, 2011 | 24,865 | 33.66 | 836,946 |
| August 25, 2011 | 123,112 | 34.17 | 4,207,205 |
| August 26, 2011 | 69,504 | 33.92 | 2,357,534 |
| August 29, 2011 | 12,000 | 34.59 | 415,020 |
| August 30, 2011 | 153,540 | 35.60 | 5,466,024 |
| Accumulated under the program | 1,219,927 | 43,272,332 |
Following the above transactions, GN owns a total of 6,689,419 own shares corresponding to 3.2% of the company’s total share capital. GN will continue to announce the number and value of repurchased shares in company announcements to NASDAQ OMX Copenhagen.
For further information, please contact:
Mikkel Danvold
VP, IR & Communications
GN Store Nord A/S
Tel: +45 45 75 02 71
