Acting under its share buyback authorization, the GN Store Nord board of directors initiated a share buyback program on March 11, 2016 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. 19 of March 11, 2016).
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 March 11, 2016 and ending no later than March 13, 2017, GN intends to buy back shares for an amount of up to DKK 1,500 million.
The following transactions have been made under the program in the period May 24, 2016 – May 30, 2016:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| May 24, 2016 | 22,000 | 133.14 | 2,929,168 |
| May 25, 2016 | 25,000 | 134.58 | 3,364,495 |
| May 26, 2016 | 22,000 | 134.94 | 2,968,656 |
| May 27, 2016 | 24,210 | 136.33 | 3,300,566 |
| May 30, 2016 | 22,000 | 136.50 | 3,003,011 |
| Accumulated under the program | 1,521,646 | 132.88 | 202,196,052 |
In the period from May 24, 2016 to May 30, 2016 the exercise of warrants under GN’s incentive programs have resulted in a transfer of 11,658 GN shares to key employees.
Following the above transactions GN owns a total of 6,248,491 own shares corresponding to 4.0% of the company’s total share capital. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.
For further information please contact:
Peter Justesen
VP – Investor Relations & Treasury
GN Store Nord A/S
Tel: +45 45 75 87 16
