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2015-12-03

Ossur Hf : Össur hf. initiates a "Safe Harbor" share buyback program on NASDAQ Copenhagen

Announcement from Össur hf. No. 48/2015

Reykjavík, 3 December 2015

Össur hf. initiates a "Safe Harbor" share buyback program on NASDAQ Copenhagen

Össur hf. has decided to initiate a share buyback program on NASDAQ Copenhagen
that will be carried out in accordance with the provisions of the European
Commission's Regulation No. 2273/2003 ("the Safe Harbor Regulation"). The
purpose of the program is to reduce the Company's share capital and adjust
the capital structure by distributing capital to shareholders in line with
the Company's Capital Structure and Dividend Policy. The Company may purchase
up to 5,000,000 shares under the program, corresponding to 1.1% of the
current share capital. The total consideration for shares purchased under the
program shall not exceed USD 10 million (approx. DKK 70 million). The daily
purchase shall not exceed 25% of the average volume in the 20 trading days
before the purchase. The purchase price shall not be higher than the price of
the last independent trade or the highest current independent bid, whichever
is higher. The program will be managed by Nordea, which shall make its
trading decisions independently and without influence by the Company with
regard to the timing of the purchases. The Company's purchases under the
program shall be disclosed in accordance with law and regulations. The
program will end no later than 1 December 2016, but the Company is entitled
to discontinue the program at any time.

The Company also reserves the right to buy back shares in block trades outside
the "Safe Harbor" program with the aim to maintain net interest bearing debt
at USD 50 - 140 million. Such transactions will only be made in "open
windows", i.e. within six weeks from the publication of the Company's
financial results, and when no insider information is available. Such
transactions will be announced immediately after they have been carried out.

According to an authorization granted by the Annual General Meeting in March
2015, the Company is allowed to purchase own shares of up to 10% of the
Company's share capital as it stands each time. The authorization states that
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. The authorization is
valid until 12 March 2020.

The Company's market making agreement with SEB Enskilda Equities will be
suspended with effect from 1 January 2016 until the completion of the "Safe
Harbor" program. During that period the Company will not have a market maker
for Össur shares on NASDAQ Copenhagen.

Contact persons:

Jón Sigurðsson, President&CEO Tel: +354
515 1300

Sveinn Sölvason, CFO
Tel: +354 515 1300

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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