Based on the continued solid business performance and GN’s capital structure policy, and in accordance with the authorization granted to the Board of Directors at the annual general meeting on
GN’s new share buyback program of up to a total value of
The purpose of the share buyback program is to reduce the company’s share capital and to cover obligations under the long-term incentive program. At the initiation of the share buyback program, GN holds 8,299,342 treasury shares, corresponding to 6% of the total share capital.
The share buyback program is being implemented in accordance with article 5 of regulation (EU) no. 596/2014 of
The share buyback program will be subject to the following terms:
- The maximum amount allocated to the share buyback program is limited to a total value of
DKK 2,400 million . As an example, at a price of e.g.DKK 550 per share, the maximum number of shares that may be repurchased under the program is 4.4 million, which is equivalent to approximately 3% of GN’s share capital. The company's holding of treasury shares, including previously acquired shares, may at no time exceed 15% of the share capital of the company. - Shares will not be purchased at a price higher than the higher of the following: the price of the last independent trade and the highest existing independent buyer's offer on the marketplace where the purchase takes place.
- The maximum number of shares that can be bought back in one single trading day is 76,618 corresponding to 25% of the average daily trading volume of the GN share in
April 2021 .
Once a week, GN will announce the number and value of repurchased shares in company announcements through Nasdaq Copenhagen. GN may at any time end the share buyback program; any such termination will be announced through Nasdaq Copenhagen.
As mentioned in the Annual Report 2021, page 44, GN Store Nord Fondet is working on restructuring and diversifying its asset portfolio, including a sale of the majority of its holding of
For further information, please contact:
Investors and analysts
Henriette Wennicke
Vice President – Investor Relations &
Tel: +45 45 75 03 33
or
Director – Investor Relations & Treasury
Tel: +45 45 75 92 57
Press and the media
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55
About
150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott and FalCom in 100 countries. Founded in 1869, the
Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and Twitter.
Attachment
- Announcement 14 - Initiation of new share buyback program
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