Ossur Hf : Össur hf. initiates a new share buyback program
(Thomson Reuters ONE) -
Announcement from Össur hf. No. 59/2017
Reykjavík, 14 August 2017
Össur hf. has decided to initiate a new share buyback program (the "Program")
tomorrow, 15 August 2017, which will replace the share buyback program that was
that completed on 11 August 2017. 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 1.1% of the current share
capital. The total consideration for shares purchased under the Program shall
not exceed USD 10 million (approx. DKK 63 million). The daily purchase shall not
exceed 25% of the average volume in the 20 trading days before the purchase on
the regulated market where the transaction is carried out. 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 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 31 July 2018, 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 1.0x - 2.0x 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: 14.08.2017 - 18:05 Uhr
Sprache: Deutsch
News-ID 556452
Anzahl Zeichen: 5203
contact information:
Town:
Reykjavik
Kategorie:
Business News
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