Össur hf: Share buyback program completed

Announcement no. 71/2019

25 November 2019 

On 10 September 2019, Össur hf. initiated a share buy-back program, see Company announcement no. 53/2019.

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 11, the period 18 November 2019 – 22 November 2019:

Transactions
Date   No. of shares   Avg. purchase
price in DKK
  Transaction
value in DKK
18 November 2019   10,000   49.33   493,268
19 November 2019   28,293   49.43   1,398,506
20 November 2019   20,079   49.50   993,947
21 November 2019   46,261   49.17   2,274,459
22 November 2019   20,381   49.32   1,005,140
Total                         125,014   49.32        6,165,320

Össur acquired 1,317,814 shares under the program at the average price of DKK 48.83. The total consideration amounted to around USD 10 million (approx. DKK 64 million) and thus the program has been completed. Össur currently holds 3,031,211 own shares, corresponding to 0.71% 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

Össur press releases by e-mail

If you wish to receive Össur press releases by e-mail please register at http://www.ossur.com/investors

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