Company announcements

Transactions in relation to share buyback program and announcement of possession of more than 5% of total capital and votes

Announcement August 01, 2017
Published: 2017-08-01 21:13:55 CEST
GN Store Nord A/S
Changes in company's own shares

Transactions in relation to share buyback program and announcement of possession of more than 5% of total capital and votes

Acting under its share buyback authorization, the GN Store Nord board of directors initiated a share buyback program on May 4, 2017 in accordance with article 5 of the regulation (EU) no. 596/2014 of 16 April 2014 on market abuse and the delegated regulation (EU) no. 2016/1052 of 8 March 2016, also referred to as the Safe Harbor rules (company announcement no. 20 of May 4, 2017). 

The share buyback program has been initiated in order to reduce the company’s share capital and to cover obligations under the long-term incentive program. Under the share buyback program, which is running from May 4, 2017 and ending no later than March 12, 2018, GN intends to buy back shares for an amount of up to DKK 1,000 million. 

The following transactions have been made under the program in the period July 25, 2017 - August 1, 2017:

  No. of shares Average purchase price, DKK Transaction Value, DKK
July 25, 2017 20,000 190.24 3,804,852
July 26, 2017 15,000 190.81 2,862,083
July 27, 2017 15,000 192.88 2,893,146
July 28, 2017 30,000 190.07 5,701,953
July 31, 2017 37,500 191.38 7,176,585
August 1, 2017 25,000 189.91 4,747,733
Accumulated under the program 1,367,615 195.67 267,605,299

Following the above transactions GN owns a total of 7,306,764 own shares corresponding to 5.0% of the company’s total share capital. Every Tuesday, GN will announce the number and value of repurchased shares in company announcements to Nasdaq Copenhagen.

In accordance with section 29 of the Danish Securities Trading Act, GN Store Nord hereby announces that GN Store Nord as of today owns more than 5% of the total share capital and the total voting rights.

For further information, please contact:

Investors and analysts

Peter Justesen
VP – Investor Relations & Treasury
Tel: +45 45 75 87 16

Press and the media
Lars Otto Andersen-Lange
Group Media Manager
Tel: +45 45 75 02 55

About GN Group
GN Group is a global leader in intelligent audio solutions that let you hear more, do more and be more than you ever thought possible. We transform lives through the power of sound: Smart Hearing aids that enhance the lives of people with hearing loss; integrated headset and communications solutions that assist professionals in all types of businesses to be more productive; wireless headsets and earbuds designed to support any lifestyle – from sports enthusiasts to commuters and office workers.

With world leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by the brands Jabra, ReSound, Beltone and Interton in 100 countries across the world. Founded in 1869, the GN Group today has more than 5,000 employees and is listed on Nasdaq Copenhagen (GN.CO).

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Announcement 37 - Transactions under share buyback program.pdf