Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 2, 2018, in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 15 of May 2, 2018).
The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which runs from May 2, 2018 and will end no later than March 14, 2019, GN intends to buy back shares for an amount of up to DKK 1,000 million.
The following transactions have been made under the program in the period October 16, 2018 – October 22, 2018:
|No. of shares||Average purchase price, DKK||Transaction Value, DKK|
|October 16, 2018||4,990||272.17||1,358,152|
|October 17, 2018||7,400||274.59||2,031,998|
|October 18, 2018||5,000||281.75||1,408,768|
|October 19, 2018||8,317||281.73||2,343,118|
|October 22, 2018||2,500||281.88||704,708|
|Accumulated under the program||1,889,141||281.30||531,413,873|
Following the above transactions GN holds a total of 12,630,995 own shares corresponding to a nominal value of DKK 50,523,980 and 8.7% of the total share capital and the total voting rights in the company. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.
For further information, please contact:
Investors and analysts
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16
Senior Investor Relations Manager
Tel: +45 45 75 92 57
Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55
About GN Group
The GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. With our unique competencies within medical, professional and consumer audio solutions, we transform lives through the power of sound: Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support calls, music and media consumption.
With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and Blueparrott in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,500 employees and is listed on Nasdaq Copenhagen (GN.CO).