On 8 April 2013, NORDEN initiated a share buy-back programme in accordance with EU Commission Regulation no. 2273/2003 (the Safe Harbor method), which ensures that the Company is protected against violation of insider legislation during the share buy-back.
Under the share buy-back programme, NORDEN will purchase treasury shares for up to a total of USD 30 million (approximately DKK 170 million). The value of the first phase of the share buyback programme will be up to DKK 20 million, and the first phase is expected to run until 14 May 2013. The following phases, which may bring the value of the total share buy-back up to a total of USD 30 million, are expected to be decided and announced in connection with publication of the Company's interim reports.
Since the share buy-back programme was initiated on 8 April 2013, the total number of repurchased shares is 110,652 at a total amount of DKK 19,999,985. The first phase of the share buy-back programme is thus completed.
With the transactions stated above, NORDEN holds a total of 1,831,032 treasury shares, corresponding to 4.3%. The total number of shares in NORDEN is 43million. Adjusted for treasury shares, the number of shares is 41,168,968.