District Court of Glostrup against PANDORA for breach of section 27(1) of the Securities Trading Act, cf. section 93(6), cf. subsection 1.
According to the indictment the Company did not until Company Announcement No. 30 of 2 August 2011 announce its downward adjustment of its revenue growth expectations for 2011 to 0%, no matter that the Company was obliged to publish inside knowledge of the downward adjustment of the revenue growth expectations for 2011 as soon as possible after five alternative dates between 7 July 2011 and 1 August 2011.
The Public Prosecution for Serious Economic Crimes has reserved the right to bring additional indictments and further to make a claim for damages during the proceedings.
PANDORA will plead not guilty.
PANDORA continues to believe that:
- it acted properly during a swift and unexpected downturn in sales by making a timely and precise announcement adjusting its annual forecast in light of new information and based on an analysis of the changing market dynamics in July 2011,
- it has at all times been in full compliance with all relevant rules and regulations for issuers of shares.
The content of this announcement release will have no impact on PANDORA's outlook for 2013, as latest communicated to the market in Company announcement No. 106.
ABOUT PANDORA PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 70 countries on six continents through approximately 10,300 points of sale, including approximately 950 Concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 6,900 people worldwide of whom 4,900 are located in Gemopolis, Thailand, where the Company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2012, PANDORA’s total revenue was DKK 6.7 billion (approximately EUR 900 million). For more information, please visit www.pandoragroup.com.
CONTACT For further queries, please contact:
INVESTOR RELATIONS
Morten Eismark VP Group Investor Relations Phone +45 3673 8213 Mobile +45 3045 6719
Magnus Thorstholm Jensen Investor Relations Officer Phone +45 4323 1739 Mobile +45 3050 4402
MEDIA RELATIONS
Jakob Risom Press Officer Phone +45 3673 0634 Mobile +45 6165 6540
