Össur hf. explores the potential for share buy-back block trades
Announcement from Össur hf. No.46/2015
Reykjavík, 28 October 2015
Össur hf. explores the potential for share
buy-back block trades
Össur hf. has decided to actively explore the potential for share buy-back block trades on NASDAQ Copenhagen and NASDAQ Iceland.
Carnegie Investment Bank has been selected as manager of the potential block trade on NASDAQ Copenhagen, and Virding Capital Markets has been selected as manager of the potential block trade on NASDAQ Iceland.
The Company will also consider commencing a subsequent "Safe Harbour" share buy-back program.
The purpose of the share buy-backs is to adjust the capital structure by distributing capital to shareholders in line with the Company's Capital Structure and Dividend Policy. A proposal to decrease the share capital will be submitted to the Annual General Meeting in 2016 if any transactions are executed.
According to an authorization granted by the Annual General Meeting in March 2015, the Company is allowed to purchase own shares of up to 10% of the Company's share capital as it stands each time. The authorization states that 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.
Jón Sigurðsson, President & CEO Tel: +354 515 1300
Sveinn Sölvason, CFO Tel: +354 515 1300
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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
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.