In continuation of the company announcement of 15 December 2010 regarding the proposal of the Board of Directors to pay dividend for the financial year 2010 and the plan for a share buyback programme, NORDEN hereby announces that the share buyback programme will be initiated now at the terms stated below.
The total value of the share buyback programme is up to DKK 170 million (approx. USD 30 million) and it is expected to run until the end of March 2011. As previously announced, the buyback is part of NORDEN’s plan to pay out DKK 505 million in total to the shareholders. The Board of Directors will recommend at the annual general meeting in April 2011 that the remaining DKK 335 million be paid as ordinary dividend for the financial year 2010.