Össur hf: Össur Temporarily Pauses Share Buybacks
Announcement no. 62/2022
25 October 2022
On 10 October 2022, Össur hf. initiated a share buyback program (“Program”), see Company Announcement no. 57/2022.
The purpose of the Program is to reduce the Company’s share capital and adjust the capital structure by distributing capital to shareholders in line with the Company’s Capital Structure and Capital Allocation Policy. The Program will end no later than 30 September 2023, but the Company is entitled to stop the Program at any time. The Company may purchase up to 2,000,000 shares under the Program, corresponding to 0.47% of the current share capital. The total consideration for shares purchased under the Program shall not exceed USD 10 million.
As the net interest-bearing debt to EBITDA corresponded to 2.8x at the end of Q3 2022, at the upper end of the target range of 2.0 - 3.0x NIBD/EBITDA, Össur has decided to temporarily pause share buybacks from 25 October 2022.
As of 21 October 2022, Össur had acquired 101,234 shares under the Program at the average price of DKK 32.87 and no shares have been acquired since then. Össur currently holds 2,714,347 shares, corresponding to 0.64% of the Company’s total share capital.
The Program on Nasdaq Copenhagen is carried out in accordance with Regulation No. 596/2014 of the European Parliament and of the Council on market abuse ("MAR"), and the Commission’s delegated regulation 2016/1052.
Further information
Edda Lára Lúðvígsdóttir, Investor Relations Director, [email protected], +354 844 4759
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About Össur
Össur (Nasdaq Copenhagen: OSSR) is a global leader in non-invasive orthopaedics that helps people live a Life Without Limitations. A recognized “Technology Pioneer” with a rich 50-year history, Össur focuses on improving people’s mobility through the delivery of innovative technologies in Prosthetics and Bracing & Supports. Significant investment in research and development have led to over 2,000 patents, award-winning designs, successful clinical outcomes, and consistently strong market positions. Össur is signatory to the UN Global Compact, UN Women’s Empowerment Principles, contributes to the UN Sustainable Development Goals and became Carbon Neutral in 2021. Össur operates globally and employs around 4,000 employees. www.ossur.com
