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, initiated on May 2, 2018 and concluded on March 13, 2019, 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 12, 2019 – March 13, 2019
|No. of shares||Average purchase price, DKK||Transaction Value, DKK|
|March 12, 2019||25,247||312.01||7,877,372|
|March 13, 2019||21,063||308.28||6,493,377|
|Accumulated under the program||3,576,464||279.61||999,999,746|
Following the above transactions GN holds a total of 14,313,505 own shares corresponding to a nominal value of DKK 57,254,020 and 9.8% of the total share capital and the total voting rights in the company. During the program, GN has repurchased a total of 3,576,464 shares, which equals a total transaction value of DKK 1,000 million.
As communicated in the Annual Report 2018, as part of the 2017 - 2019 strategy, the board of directors intends to initiate a new DKK 1 billion share buyback program shortly after the annual general meeting following relevant authorizations.
For further information, please contact:
Investors and analysts
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16
Senior Manager Investor Relations
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. Our ambitious 150-year journey has taken us from telegraph cables to radio waves and intelligent audio engineering. To celebrate our anniversary, we look to our unique competences within medical, professional and consumer audio solutions to help us continue to transform lives through the power of sound.
GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra and BlueParrott in 100 countries. Founded in 1869, the GN Group employs 6,000 people and is listed on Nasdaq Copenhagen (GN.CO).