Ossur Hf : Board decisions following the Annual General Meeting 12 March 2015
Announcement from Össur hf. No. 10/2015
Reykjavik, 12 March 2015
Board decisions following the Annual General Meeting 12 March 2015
Allocation of responsibilities
Mr. Niels Jacobsen was re-elected as Chairman of the Board of Directors and Dr.
Kristján Tómas Ragnarsson was re-elected as Vice Chairman.
Mr. Arne Boye Nielsen, Mrs. Guðbjörg Edda Eggertsdóttir and Dr. Svafa Grönfeldt
were appointed to the Company's Audit Committee.
Authorization for management to purchase own shares on behalf of the Company
With reference to the authorization to purchase own shares and to initiate share
buyback programs approved by the Company's Annual General Meeting held today,
the Board granted management an authorization to purchase own shares on behalf
of the Company in one or more transactions or through share buyback programs.
Terms and conditions:
* A purchase shall be made with the aim to maintain a desired capital level of
net interest bearing debt in accordance with the Company's Corporate
Structure and Dividend Policy, as approved by the Board in February 2015.
* 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.
* A purchase shall always be carried out within the limits of the relevant
authorization of the Annual General Meeting and in accordance with
applicable law and rules.
The authorization is valid until the next Annual General Meeting in 2016.
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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 braces, supports, prosthetic limbs and compression
therapy. 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
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.