Copenhagen, 2012-03-30 18:02 CEST (GLOBE NEWSWIRE) -- Acting under its share buyback authorization, 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. At the Annual General Meeting on March 22, 2012, the GN Store Nord Board of Directors was granted authorization to acquire up to 20% of the share capital.
The following transactions have been made under the program in the period March 22 – March 30, 2012:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| March 22, 2012 | 161,889 | 58.55 | 9,477,872 |
| March 23, 2012 | 155,000 | 58.19 | 9,019,373 |
| March 26, 2012 | 185,000 | 60.05 | 11,108,492 |
| March 27, 2012 | 195,084 | 60.26 | 11,756,250 |
| March 28, 2012 | 208,112 | 60.25 | 12,538,124 |
| March 29, 2012 | 200,000 | 59.14 | 11,828,600 |
| March 30, 2012 | 160,000 | 59.59 | 9,534,880 |
| Accumulated under the program | 8,659,422 | 59.25 | 513,076,367 |
Following the above transactions, GN owns a total of 23,507,781 own shares corresponding to 11.3% 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
