Pausing of and final transactions in relation to share buyback program
October 06 2021 - 3:52AM
Pausing of and final transactions in relation to share buyback
program
Pursuant to the authorization granted by the Annual General
Meeting of GN Store Nord on March 17, 2021, the Board of Directors
initiated a share buyback program on May 6, 2021 (see company
announcement no. 14) 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 (the Safe Harbor
Rules). As a consequence of GN’s decision to acquire SteelSeries
(see company announcement no. 52), the current share buyback
program is paused with immediate effect.
The share buyback program was initiated in order to reduce the
share capital and to cover obligations under the company’s
long-term incentive program. Under the share buyback program, GN
has bought back shares for an amount of DKK 1,052 million.
The following transactions have been made under the program in
the period on October 5, 2021
|
|
No. of shares |
Average purchase price, DKK |
Transaction Value, DKK |
|
October 5, 2021 |
30,000 |
408.34 |
12,250,245 |
|
Accumulated under the program |
2,060,874 |
510.66 |
1,052,411,923 |
Following the above transactions, GN Store Nord holds as
treasury shares a total of 10,483,641 shares of nominally DKK 4,
corresponding to a total nominal value of DKK 41,934,564 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.
As per announcement no. 52, GN Store Nord’s long-term leverage
target of 1-2x NIBD/EBITDA is confirmed. Following closing of the
acquisition of SteelSeries, GN Store Nord will focus on
de-leveraging in order to be within its capital structure policy
again within a couple of years.
For further information, please contact: Investors and
analystsHenriette WennickeVice President – Investor
Relations & TreasuryTel: +45 45 75 03 33
or
Rune SandagerDirector – Investor Relations & Treasury
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 enables people to Hear More, Do More and Be More
through its intelligent hearing, audio and video collaboration
solutions. Inspired by people and driven by our innovation
leadership, we leverage technological synergies to deliver unique
and increasingly individualized user experiences in our products
and solutions.
150 years ago, GN was founded with a truly innovative and global
mindset. Today, we honor that legacy with world-leading expertise
in the human ear, sound and video processing, wireless technology,
miniaturization and collaborations with leading technology
partners. GN's solutions are marketed by the brands ReSound,
Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries.
Founded in 1869, the GN Group employs 6,500 people and is listed on
Nasdaq Copenhagen (GN.CO).
Visit our homepage GN.com - and connect with us on LinkedIn,
Facebook and Twitter.
- Announcement 53 - Final transactions in relation to share
buyback program
- PUBLIC_SBB_GN STORE NORD
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