Acting under its share buyback authorization, the GN Store Nord board of directors initiated a share buyback program on May 4, 2017 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. 20 of May 4, 2017).
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, initiated on May 4, 2017 and concluded on March 12, 2018, GN has bought back shares for an amount of DKK 1,000 million.
The following transactions have been made under the program in the period March 6, 2018 – March 12, 2018:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| March 6, 2018 | 2,000 | 208.97 | 417,946 |
| March 7, 2018 | 2,000 | 208.51 | 417,016 |
| March 8, 2018 | 2,000 | 215.03 | 430,064 |
| March 9, 2018 | 2,000 | 219.78 | 439,551 |
| March 12, 2018 | 6,107 | 221.04 | 1,349,861 |
| Accumulated under the program | 4,958,482 | 201.65 | 999,899,990 |
Following the above transactions GN owns a total of 10,806,248 own shares corresponding to 7.4% of the company’s total share capital. Under the share buyback program, GN has repurchased a total of 4,958,482 shares, which equals a total transaction value of DKK 1,000 million.
As communicated in the Annual Report 2017, as part of the 2017 - 2019 strategy, the board of directors intends to undertake a share buyback program of total DKK 3 billion. The second part of the program, a DKK 1 billion one year program, will be initiated shortly after the annual general meeting following relevant authorizations.
For further information, please contact:
Investors and analysts
Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16
Or
Rune Sandager
Senior IR Manager – Investor Relations & Treasury
Tel: +45 45 75 92 57
Press and the media
Lars Otto Andersen-Lange
Group Media Manager
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).
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Announcement 13 - Final transactions under share buyback program
