Ossur Hf : Transactions in relation to share buyback program
Announcement no. 18/2019
11 March 2019
Transactions in relation to share buyback program
On 9 October 2018, Össur hf. initiated a share buy-back program, see Company announcement no. 59/2018.
The purpose of the share buyback 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 program will end no later than 30 June 2019. 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.
The following transactions have been made under the program in week 21, the period 4 March 2019 - 8 March 2019:
| Transactions | ||||||
| Date | No. of shares | Avg. purchase price in DKK | Transaction value in DKK | |||
| 4 March 2019 | 25,000 | 32.99 | 824,750 | |||
| 5 March 2019 | 24,700 | 33.10 | 817,595 | |||
| 6 March 2019 | 23,905 | 33.02 | 789,353 | |||
| 7 March 2019 | 19,592 | 32.58 | 638,258 | |||
| 8 March 2019 | 26,245 | 32.68 | 857,810 | |||
| Total | 119,442 | 32.88 | 3,927,766 | |||
Össur has acquired 1,555,620 shares under the program at the average price of DKK 32.36. Following the above transactions Össur's holding of own shares is 7,334,313 corresponding to 1.70% of the Company's total share capital. Össur's AGM, held on 7 March 2019 approved a motion to cancel 5,430,259 shares. The capital reduction is expected to be registered within one month.
The share buyback program on Nasdaq Copenhagen is 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.
Further information
David Hreidarsson, Investor Relations, dohreidarsson@ossur.com, +354 515 1380
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About Össur
Össur (NASDAQ OMX: OSSR) is a global leader in non-invasive orthopaedics 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 Prosthetics and Bracing & Supports. 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