Ossur Hf : Board decisions following the Annual General Meeting 15 March 2013
Announcement from Össur hf. No.10/2013
Reykjavik, 15 March 2013
Board decisions following the Annual General Meeting
15 March 2013
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 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
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 Dividend Policy
approved by the Board in February 2013.
* The purchase price shall not be more than 10% above or 10% below the market
price on NASDAQ OMX where the shares are purchased, but always within the
limits of the law at the time of purchase (currently the closing price on
NASDAQ OMX, where the shares are purchased, the day before the purchase).
* A purchase shall always be carried out within the limits of the
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 2014.
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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 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
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