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Transactions in relation to share buyback program
Pursuant to the authorization granted by the Annual General Meeting of GN Store Nord on March 17, 2021, the Board of Directors initiated a share buyback program on May 6, 2021 (see company announcement no. 14). The share buyback program is implemented in accordance with article 5 of Regulation (EU) no. 596/2014 of April 16, 2014 on market abuse and Delegated Regulation (EU) no. 2016/1052 of March 8, 2016 (the Safe Harbor Rules).
The share buyback program was initiated in order to reduce the share capital and to cover obligations under the company’s long-term incentive program. The share buyback program runs from May 6, 2021 and will be concluded no later than March 8, 2022. The total share buyback in the period will represent an amount of up to DKK 2,400 million.
On a weekly basis, GN Store Nord will announce the number and value of shares repurchased under the program in a company announcement through Nasdaq Copenhagen.
The following transactions have been made under the program in the period from May 11, 2021 through May 17, 2021:
No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
May 11, 2021 | 15,000 | 484.93 | 7,273,998 |
May 12, 2021 | 20,000 | 486.33 | 9,726,548 |
May 17, 2021 | 20,000 | 479.80 | 9,595,948 |
Accumulated under the program | 105,000 | 501.29 | 52,635,242 |
In addition to the shares acquired under the above-mentioned share buyback program, GN Store Nord bought back 190,560 shares outside the Safe Harbor rules in a bilateral agreement with GN Store Nord Fondet on May 12, 2021 (see company announcement 16).
Following the above transactions, GN Store Nord holds as treasury shares a total of 8,594,902 shares of nominally DKK 4, corresponding to a total nominal value of DKK 34,379,608 and 6.2% of the total share capital and the total voting rights in the company. Details of each transaction are included as an appendix.
For further information, please contact:
Investors and analysts
Henriette Wennicke
Vice President – Investor Relations & Treasury
Tel: +45 45 75 03 33
or
Rune Sandager
Director – Investor Relations & Treasury
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 enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions.
150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the GN Group employs 6,500 people and is listed on Nasdaq Copenhagen (GN.CO).
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.
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