From December 3-11, Össur, Reykjavik, Iceland, bought back 51,751 of its own shares at an average price of DKK 23.26 per share. The total purchase amount was DKK 1,203,962 or about US $177,000.
Össur announced its intent to buy back shares on December 3. The purpose of the share buyback program is to reduce the company’s share capital and adjust the capital structure by distributing capital to shareholders in line with its capital structure and dividend policy. The program will end no later than December 1, 2016. Össur may purchase up to 5 million shares under the program, corresponding to 1.1 percent of the current share capital. The total consideration for shares purchased under the program shall not exceed US $10 million (about DKK 70 million).
The share buyback program on NASDAQ Copenhagen was carried out in compliance with the provisions of the European Commission’s Safe Harbor regulation.
