On 21 June 2023, Pandora announced a new share buyback programme, cf. Company announcement no. 796. The share buyback programme is executed in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation).
The purpose of the programme is to reduce Pandora’s share capital and to meet obligations arising from company incentive programmes.
Under the programme Pandora will repurchase shares for an aggregate maximum amount of DKK 2.6 billion from 21 June until 2 February 2024 at the latest, both days inclusive. The first tranche of up to DKK 1.6 billion commenced on 21 June 2023 was completed on 6 October 2023. The second tranche to reach the total amount of up to DKK 5.0 billion commenced on 10 October and will complete no later than 2 February 2024.
The programme follows the successful conclusion of Pandora’s DKK 2.4 billion share buy-back programme, which ended on 19 June 2023 (see Company Announcement No. 769).
The following transactions have been made under the programmes:
sharesAverage purchase price, DKKTransaction value,
DKKAccumulated under the programme6,690,542 4,325,331,13820 November 202310,000917.559,175,50021 November 202315,000908.0413,620,62622 November 20237,733905.076,998,90623 November 20231,000912.24912,242
24 November 202312,000909.9810,919,752Accumulated under the programme6,736,275 4,366,958,163
With the transactions stated above, Pandora owns a total of 6,532,968 treasury shares, corresponding to 7.3% of the Company’s share capital.
In accordance with Regulation (EU) No 596/2014, all transactions related to the share buyback programme are presented in detailed form in the spread sheet attached to this Company Announcement.
Pandora is the world’s largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through more than 6,500 points of sale, including more than 2,500 concept stores.