Ossur Hf : Össur hf. continues with a "Safe Harbor" share buyback program on Nasdaq Copenhagen
(Thomson Reuters ONE) -
Announcement from Össur hf. No. 96/2016
Reykjavík, 30 November 2016
Össur hf. has decided to initiate a new share buyback program (the "Program") on
Nasdaq Copenhagen tomorrow, 1 December 2016, which will replace the share
buyback program initiated 3 December 2015. The Program will be carried out in
accordance with Regulation No. 596/2014 of the European Parliament and of the
Council on market abuse ("MAR"), and the Commission's delegated regulation
2016/1052. The purpose of the Program is to reduce the Company's share capital
and adjust the capital structure by distributing capital to shareholders in line
with the Company's Capital Structure and Dividend Policy. The Company may
purchase up to 5,000,000 shares under the Program, corresponding to 1.2% of the
current share capital. The total consideration for shares purchased under the
Program shall not exceed USD 10 million (approx. DKK 70 million). The daily
purchase shall not exceed 25% of the average volume in the 20 trading days
before the purchase. The purchase price shall not be higher than the price of
the last independent trade or the highest current independent bid, whichever is
higher. The Program will be managed by Nordea, which shall make its trading
decisions independently and without influence by the Company with regard to the
timing of the purchases. The Company's purchases under the Program shall be
disclosed in accordance with law and regulations. The Program will end no later
than 30 November 2017, but the Company is entitled to discontinue the Program at
any time.
The Company also reserves the right to buy back shares in block trades outside
the Program with the aim to maintain net interest bearing debt at 0.5x - 1.5x to
EBITDA. Such transactions will only be made in "open windows", i.e. within six
weeks from the publication of the Company's financial results, and when no
insider information is available. Such transactions will be announced
immediately after they have been carried out.
According to an authorization granted by the Annual General Meeting in March
2015, the Company is allowed to purchase own shares of up to 10% of the
Company's share capital as it stands each time. The authorization states that
the purchase price shall not be higher than the price of the last independent
trade or the highest current independent bid, whichever is higher, on the
regulated market where the transaction is carried out. The authorization is
valid until 12 March 2020.
Contact persons:
Jón Sigurðsson, President & CEO Tel:
+354 515 1300
Sveinn Sölvason, CFO Tel:
+354 515 1300
Össur press releases by e-mail
If you wish to receive Össur press releases by e-mail please register at the
following web-site: http://www.ossur.com/investormailings
About Össur Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopedics
that help people live a life without limitations. Its business is focused on
improving people's mobility through the delivery of innovative technologies
within the fields of braces, supports and prosthetic limbs. A recognized
"Technology Pioneer", Össur invests significantly in research and product
development; its award-winning designs ensuring a consistently strong position
in the market. Successful patient and clinical outcomes are further empowered
via Össur's educational programs and business solutions. Headquartered in
Iceland, Össur has major operations in the Americas, Europe and Asia, with
additional distributors worldwide. www.ossur.com
Forward-Looking Statement This press release includes "forward-looking
statements" which involve risks and uncertainties that could cause actual
results to differ materially from results expressed or implied by these
statements. Össur hf. undertakes no obligation and does not intend to update
these forward-looking statements to reflect events or circumstances occurring
after this press release. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. All forward-looking statements are qualified in their entirety by this
cautionary statement.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ossur Hf via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2016 - 17:05 Uhr
Sprache: Deutsch
News-ID 510105
Anzahl Zeichen: 5207
contact information:
Town:
Reykjavik
Kategorie:
Business News
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