Copenhagen, 2012-02-21 17:52 CET (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 January 13, 2012 in accordance with the provisions of the European Commission’s regulation no 2273/2003 of 22 December 2003, also referred to as the Safe Harbor rules (Company announcement no. 3 of January 13, 2012).
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 January 13, 2012 and ending no later than December 31, 2012, GN intends to buy back shares in the company for an amount of up to DKK 1.3 billion. The current authorization allows GN to acquire up to 15% of its shares. Contingent upon granted authorization at the Annual General Meeting in March 2012, the share buyback program will continue thereafter.
The following transactions have been made under the program in the period February 13 – February 21, 2012:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| February 13, 2012 | 81,807 | 58.32 | 4,771,099 |
| February 14, 2012 | 80,000 | 58.59 | 4,687,200 |
| February 15, 2012 | 82,842 | 59.35 | 4,916,648 |
| February 16, 2012 | 125,254 | 59.59 | 7,463,685 |
| February 17, 2012 | 134,395 | 59.24 | 7,961,493 |
| February 20, 2012 | 110,884 | 59.46 | 6,593,362 |
| February 21, 2012 | 77,498 | 59.67 | 4,624,306 |
| Accumulated under the program | 4,034,599 | 58.31 | 235,264,152 |
Following the above transactions, GN owns a total of 19,420,100 own shares corresponding to 9.3% of the company’s total share capital. Every seventh trading day GN will 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
