The Board of Directors has decided to launch a new share buy-back programme under which Pandora will buy back own shares for a maximum consideration of
Pandora has appointed
The share buy-back programme is implemented in accordance with the safe harbour rules in Regulation (EU) No 596/2014 of the
The programme will be implemented under the following framework:
- The maximum total consideration for Pandora shares bought back in the period of the entire programme is
DKK 4.0 billion ; - Under the current authorisation to acquire treasury shares, and thus applicable to the programme, Pandora can acquire up to 10% of the existing nominal share capital;
- The shares will be purchased on Nasdaq Copenhagen (XCSE) and Multilateral Trading Facilities, including Cboe DXE (CEUX), Turquoise Europe (TQEX) and Aquis (AQEU);
- No shares may be bought back at a price exceeding the higher of i) share price of latest independent trade and ii) the highest current independent offer price on the trading venue where the purchase is carried out.
- The maximum number of shares to be bought per daily market session will be the equivalent to 25% of the average daily volume of shares in the Company on the trading venue on which the purchase is carried out during the preceding 20 trading days;
- The purchase price paid in connection with acquisition of shares must not diverge from the price quoted on Nasdaq Copenhagen, or other regulated markets, on which the purchase is carried out, at the time of acquisition by more than 10%.
The purpose of the programme is to reduce the share capital of Pandora and to meet obligations arising from Pandora’s incentive programmes.
Pandora may terminate the programme at any time. On a weekly basis, Pandora will issue an announcement in respect of transactions made under the programme.
ABOUT PANDORA
Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at accessible price points. Pandora jewellery is sold in more than 100 countries through 6,700 points of sale, including more than 2,600 concept stores.
Headquartered in
Contact
For more information, please contact:
INVESTOR RELATIONS VP, Investor Relations & +45 3137 9486 biazi@pandora.net | CORPORATE COMMUNICATIONS VP, Media Relations & Public Affairs +45 4060 1415 jome@pandora.net |
Director, Investor Relations +45 6167 7425 adfug@pandora.net | |
Attachment
- Pandora_Company_Announcement_No_843
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