10.03.2016 13:06:24

Ossur Hf : Board decisions following the Annual General Meeting 10 March 2016

Announcement from Össur hf. No. 30/2016

Reykjavik, 10 March 2016



Allocation of responsibilities

Mr. Niels Jacobsen was re-elected as Chairman of the Board of Directors and Dr. Kristján Tómas Ragnarsson was re-elected as Vice Chairman.

Mr. Arne Boye Nielsen, Mrs. Guðbjörg Edda Eggertsdóttir and Dr. Svafa Grönfeldt were appointed to the Company's Audit Committee.

Authorization for management to purchase own shares on behalf of the Company
 
With reference to the authorizations to purchase own shares approved by the Company's Annual General Meeting in 2015 and to initiate share buyback programs approved by the Company's Annual General Meeting held today, the Board granted management an authorization to purchase own shares on behalf of the Company in one or more transactions or through share buyback programs.

Terms and conditions:
  • A purchase shall be made with the aim to maintain a healthy balance sheet and a level of net interest bearing debt of 0.5x-1.5x to EBITDA in accordance the Company's Corporate Structure and Dividend Policy approved by the Board in February 2016.
  • The purchase price shall not be higher than the price of the last independent trade or the highest current independent bid, whichever is higher, on the regulated market where the transaction is carried out.
  • A purchase shall always be carried out within the limits of the relevant authorization of the Annual General Meeting and in accordance with applicable law and rules.
The authorization is valid until the next Annual General Meeting in 2017.

Össur press releases by e-mail

If you wish to receive Össur press releases by e-mail please register at the following web-site: http://www.ossur.com/investormailings


About Össur

Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that help people live a life without limitations. Its business is focused on improving people's mobility through the delivery of innovative technologies within the fields of braces, supports and prosthetic limbs. A recognized "Technology Pioneer", Össur invests significantly in research and product development; its award-winning designs ensuring a consistently strong position in the market. Successful patient and clinical outcomes are further empowered via Össur's educational programs and business solutions.  Headquartered in Iceland, Össur has major operations in the Americas, Europe and Asia, with additional distributors worldwide. www.ossur.com

Forward-Looking Statements

This press release includes "forward-looking statements" which involve risks and uncertainties that could cause actual results to differ materially from results expressed or implied by these statements. Össur hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.

 


This announcement is distributed by Nasdaq OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ossur hf via Globenewswire
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