Ossur Hf : Share buyback program completed

Announcement from Össur hf. No. 30/2019
Reykjavík, 13 May 2019

 

Share buyback program completed

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 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 30 June 2019. The Company could 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 should not exceed USD 10 million.

Following are the last transactions made under the program in week 30, the period 6 May 2019 - 7 May 2019:

Transactions
Date   No. of shares   Avg. purchase
price in DKK
  Transaction
value in DKK
06 May 2019   18,827   38.05   716,405
07 May 2019   12,251   38.30   469,185
08 May 2019   -   -   -
09 May 2019   -   -   -
10 May 2019   -   -   -
Total    31,078   38.15     1,185,590

 

Össur acquired 2,168,884 shares under the program at the average price of DKK 32.90. The total consideration amounted to around USD 10 million and thus the program has been completed. Össur currently holds 1,417,318 own shares, corresponding to 0.33% 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.