Össur hf. recently announced an update on a share buyback program, which it initiated Aug. 15.
The purpose of the buyback 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 Dividend Policy,” according to a press release.
The program, in which the company may buy up to 5 million shares, corresponds to 1.1% of the current share capital. The program is scheduled to end no later than July 31, 2018, and total considerations for shares under the program should not exceed $10 million, according to the release.
Össur has acquired 94,297 shares under the program, at an average price of DKK 29.81, according to the release.
The buyback program was carried out in accordance with regulations of the European Parliament and the Council on market abuse and the Commission delegated regulation No. 2016/1052.