Today, William Demant Invest A/S, an investment company 100% owned by the Oticon Foundation, has reduced its holding of shares in William Demant Holding A/S by selling approx. 2.7 million shares corresponding to approx. 4.7% of the outstanding number of shares in William Demant Holding A/S.
It is the continued intention of the Oticon Foundation to retain an ownership interest in William Demant Holding A/S of 55-60%, a range that was communicated in 2005. As William Demant Holding A/S is using its share buyback program to return excess cash to shareholders, the Oticon Foundation or William Demant Invest A/S is occasionally selling shares in the market in order to keep its holding in the 55-60% range.
Further information:
Niels Jacobsen
Phone +45 3917 7100