GN Store Nord A/S: Initiation of new share buyback program
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 June 5, 2018 - June 11, 2018:
No. of shares Average purchase price, DKK Transaction Value, DKK June 6, 2018 26,500 251.20 6,656,869 June 7, 2018 33,290 250.75 8,347,408 June 8, 2018 49,919 245.86 12,273,180 June 11, 2018 25,000 247.80 6,195,035 Accumulated under the program 629,985 243.55 153,435,699
Following the above transactions GN holds a total of 11,381,468 own shares corresponding to a nominal value of DKK 45,525,872 and 7.8% 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 Peter Justesen VP - Investor Relations & Treasury Tel: +45 45 75 87 16
Rune Sandager Senior Investor Relations Manager Tel: +45 45 75 92 57Press and the media Lars Otto Andersen-Lange Group Media Manager Tel: +45 45 75 02 55About 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).
12.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: GN Store Nord A/S Lautrupbjerg 7 2750 Ballerup
Denmark Phone: +45 457 50000 E-mail: firstname.lastname@example.org Internet: www.gn.com ISIN: DK0010272632 WKN: 854734 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service