Össur hf: Share buyback program completed

Announcement no. 52/2019

9 September 2019 

 

On 14 May 2019, Össur hf. initiated a share buy-back program, see Company announcement no. 31/2019.

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 31 December 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 17, the period 2 September 2019 – 6 September 2019:

Transactions
Date   No. of shares   Avg. purchase
price in DKK
  Transaction
value in DKK
2 September 2019   21,000   47.87   1,005,299
3 September 2019   -   -   -
4 September 2019   13,514   48.32   653,033
5 September 2019   -   -   -
6 September 2019   -   -   -
Total                         34,514   48.05        1,658,332

Össur acquired 1,621,079 shares under the program at the average price of DKK 41.73. The total consideration amounted to around USD 10 million (approx. DKK 68 million) and thus the program has been completed. Össur currently holds 2,338,397 own shares, corresponding to 0.55% 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.

Further information

David Hreidarsson, Investor Relations, dohreidarsson@ossur.com, +354 515 1380

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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 Prosthetics and Bracing & Supports.  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