Copenhagen, 2013-02-07 17:23 CET (GLOBE NEWSWIRE) -- Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on August 20, 2012 in accordance with the provisions of the European Commission’s regulation no. 2273/2003 of December 22, 2003, also referred to as the Safe Harbor rules (Company announcement no. 40 of August 20, 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 August 20, 2012 and ending no later than February 28, 2013, GN intends to buy back shares for an amount of up to DKK 400 million.
The following transactions have been made under the program in the period January 30, 2013 – February 7, 2013:
|No. of shares||Average purchase price, DKK||Transaction Value, DKK|
|January 30, 2013||60,000||90.10||5,405,712|
|January 31, 2013||37,000||89.64||3,316,569|
|February 1, 2013||39,000||90.73||3,538,427|
|February 4, 2013||45,000||91.38||4,111,970|
|February 5, 2013||35,000||90.93||3,182,582|
|February 6, 2013||37,000||91.31||3,378,500|
|February 7, 2013||54,000||91.66||4,949,435|
|Accumulated under the program||4,305,700||84.99||365,946,231|
Transactions related to GN’s incentive programs have resulted in a net sale by GN of 27,000 shares in the period from January 30, 2013 to February 7, 2013. The shares in these transactions were not part of the Safe Harbor repurchase program.
Following the above transactions GN owns a total of 24,420,669 own shares corresponding to 12.6% 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:
Director – IR, Communications, CSR & Treasury
GN Store Nord A/S
Tel: +45 45 75 02 92
GN Store Nord A/S
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