Ossur Hf : Share buyback program completed
Announcement from Össur hf. No. 15/2018
Reykjavík, 5 March 2018
On 15 August 2017, Össur hf. initiated a share buy-back program, see Company announcement no. 59/2017.
The purpose of the share buyback program was 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 program would end no later than 31 July 2018. The Company could 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 could not exceed USD 10 million.
The following transactions were made under the program in week 29, the period 26 February 2018 - 2 March 2018:
| Date | No. of shares | Avg. purchase price DKK | Transaction Value DKK | |||
| 26 February 2018 | 1,284 | 28.40 | 36,466 | |||
| 27 February 2018 | 10,000 | 28.60 | 285,959 | |||
| 28 February 2018 | 12,000 | 28.18 | 338,118 | |||
| 01 March 2018 | 8,861 | 27.61 | 244,637 | |||
| 02 March 2018 | 8,369 | 27.33 | 228,749 | |||
| Total | 40,514 | 27.99 | 1,133,929 | |||
Össur acquired 2,057,501 shares under the program at the average price of DKK 29.34. The total consideration amounted to USD 10 million (approx. DKK 60 million) and thus the program has been completed. Following the above transactions Össur's holding of own shares is 10,144,106 corresponding to 2.33% of the Company's total share capital.
The share buyback program was carried out in accordance with Regulation No. 596/2014 of the European Parliament and of the Council on market abuse ("MAR"), and the Commission delegated regulation No. 2016/1052.
Contact persons:
Jón Sigurðsson, President & CEO Tel: +354 515 1300
Sveinn Sölvason, CFO Tel: +354 515 1300
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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.