Copenhagen, 2014-03-14 17:33 CET (GLOBE NEWSWIRE) -- Acting under its share buyback authorization, the GN Store Nord board of directors initiated a share buyback program on February 14, 2014 in accordance with the provisions of the European Commission’s regulation no. 2273/2003 of December 22, 2003, also referred to as the Safe Harbor rules (company announcement no. 6 of February 14, 2014).
The share buyback program has been initiated in order to reduce the company’s share capital. Under the share buyback program, which is running from February 14, 2014 and ending no later than September 30, 2014, GN intends to buy back shares for an amount of up to DKK 500 million.
The following transactions have been made under the program in the period March 6, 2014 - March 14, 2014:
| No. of shares | Average purchase price, DKK | Transaction Value, DKK | |
| March 6, 2014 | 25,000 | 132.01 | 3,300,213 |
| March 7, 2014 | 25,000 | 130.96 | 3,274,018 |
| March 10, 2014 | 25,000 | 130.34 | 3,258,490 |
| March 11, 2014 | 30,620 | 130.04 | 3,981,837 |
| March 12, 2014 | 30,000 | 127.38 | 3,821,319 |
| March 13, 2014 | 30,000 | 127.96 | 3,838,932 |
| March 14, 2014 | 35,000 | 126.40 | 4,423,857 |
| Accumulated under the program | 574,893 | 131.73 | 75,731,520 |
Transactions related to GN’s incentive programs have resulted in a net sale by GN of 369,280 shares in the period from March 6, 2014 to March 14, 2014. The shares in these transactions were not part of the Safe Harbor repurchase program.
Following the above transactions GN owns a total of 9,513,897 own shares corresponding to 5.5% of the company’s total share capital. Every seventh trading day, GN will announce the number and value of repurchased shares in company announcements to NASDAQ OMX Copenhagen.
For further information please contact:
Michael Bjergby
Senior Director – IR, Communications, CSR & Treasury
GN Store Nord A/S
Tel: +45 45 75 02 92
