Ossur Hf : Transactions in relation to share buyback program
Announcement from Össur hf. No. 32/2016
Reykjavík, 21 March 2016
On 3 December 2015, Össur hf. initiated a share buy-back program, see Company announcement no. 48/2015.
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 1 December 2016. 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 70 million).
The following transactions have been made under the program in the period 11 March 2016 - 18 March 2016:
| Date | No. of shares | Avg. purchase price DKK | Transaction Value DKK | |||||||
| 11 March 2016 | 4,413 | 23.95 | 105,685 | |||||||
| 14 March 2016 | 12,400 | 23.89 | 296,225 | |||||||
| 15 March 2016 | 3,520 | 23.86 | 83,974 | |||||||
| 16 March 2016 | 11,500 | 23.76 | 273,215 | |||||||
| 17 March 2016 | 5,550 | 23.71 | 131,585 | |||||||
| 18 March 2016 | 4,263 | 23.72 | 101,138 | |||||||
| Total | 41,646 | 23.82 | 991,822 | |||||||
Össur has acquired 636,242 shares under the program at the average price of DKK 22.78. Following the above transactions Össur's holding of own shares is 908,554* corresponding to 0.20% of the Company's total share capital.
The share buyback program on NASDAQ Copenhagen is carried out in compliance with the provisions of the European Commission's Regulation No. 2273/2003 ("the Safe Harbor Regulation").
*Össur's Annual General Meeting held on 10 March 2016 approved to reduce the share capital by ISK 3,292,688 nominal value by way of cancelling 3,292,688 of the Company's own shares of ISK 1 each. This number of own shares has been deducted, but the shares will formally be cancelled when the capital reduction has been registered, see Company announcement 29/2016.
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 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 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 Statements
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.
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