Pursuant to the authorization granted by the Annual General Meeting of GN Store Nord on March 17, 2021, the Board of Directors initiated a share buyback program on May 6, 2021 (see company announcement no. 14). The share buyback program is implemented in accordance with article 5 of Regulation (EU) no. 596/2014 of April 16, 2014 on market abuse and Delegated Regulation (EU) no. 2016/1052 of March 8, 2016 (the Safe Harbor Rules).
The share buyback program was initiated in order to reduce the share capital and to cover obligations under the company’s long-term incentive program. The share buyback program runs from May 6, 2021 and will be concluded no later than March 8, 2022. The total share buyback in the period will represent an amount of up to DKK 2,400 million.
On a weekly basis, GN Store Nord will announce the number and value of shares repurchased under the program in a company announcement through Nasdaq Copenhagen.
The following transactions have been made under the program in the period from September 7, 2021 through September 13, 2021:
|No. of shares||Average purchase price, DKK||Transaction Value, DKK|
|September 7, 2021||23,000||494.01||11,362,255|
|September 8, 2021||23,000||498.23||11,459,299|
|September 9, 2021||24,000||497.85||11,948,311|
|September 10, 2021||30,000||484.84||14,545,323|
|September 13, 2021||24,000||473.32||11,359,788|
|Accumulated under the program||1,641,416||522.71||857,981,723|
In the period from September 7, 2021 to September 13, 2021 the exercise of warrants under GN’s incentive programs have resulted in a transfer of 39,061 GN share to key employees.
Following the above transactions, GN Store Nord holds as treasury shares a total of 10,064,183 shares of nominally DKK 4, corresponding to a total nominal value of DKK 40,256,732 and 7.3% of the total share capital and the total voting rights in the company. Details of each transaction are included as an appendix.
For further information, please contact:
Investors and analysts
Vice President – Investor Relations & Treasury
Tel: +45 45 75 03 33
Director – Investor Relations & Treasury
Tel: +45 45 75 92 57
Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55
About GN Group
The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions.
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 GN Group employs 6,500 people and is listed on Nasdaq Copenhagen (GN.CO).