GN Store Nord A/S: Transactions in relation to share buyback program
Acting under its share buyback authorization, the GN Store Nord Board of Directors initiated a share buyback program on May 1, 2019, 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, jointly referred to as the Safe Harbor rules (company announcement no. 23 of May 1, 2019).
The share buyback program was 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 1, 2019 and will end no later than March 10, 2020, GN intends to buy back shares for an amount of up to DKK 1,000 million.
On a weekly basis, GN announces the number and value of shares repurchased under the program in company announcements to Nasdaq Copenhagen.
The following transactions have been made under the program in the period from May 7, 2019 to May 13, 2019:
No. of shares Average purchase price, DKK Transaction Value, DKK May 7, 2019 25,000 319.79 7,994,742 May 8, 2019 19,073 320.83 6,119,189 May 9, 2019 12,951 318.90 4,130,012 May 10, 2019 25,570 318.95 8,155,552 May 13, 2019 25,000 307.51 7,687,648 Accumulated under the program 182,675 318.91 58,256,223
Following the above transactions, GN holds as treasury shares a total of 10,772,023 shares of nominally DKK 4, corresponding to a total nominal value of DKK 43,088,092 and 7.6% 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 Peter Justesen VP - Investor Relations & Treasury Tel: +45 45 75 87 16
Rune Sandager Senior Manager Investor Relations Tel: +45 45 75 92 57Press and the media Lars Otto Andersen-Lange Head of Media Relations & Corporate Public Affairs 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. 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).
14.05.2019 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: email@example.com Internet: www.gn.com ISIN: DK0010272632 WKN: 854734 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange EQS News ID: 811053 End of News DGAP News Service