Pandora acquires 2.72m shares in buy back scheme


Spend rises to GBP107.4m with average share value of GBP45.

Pandora is continuing to forge ahead with its share buy-back programme, hoping to accumulate shares of up to DKK 2,400 million (£225m) by December 31 2014.

Pandora initiated the scheme on Fabruary 18 2013, in order to reduce the company’s share capital and to meet its obligations arising from employee share option programmes.

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Since its last announcement, Pandora has accumulated 142632 shares, taking it buy-back total to 2,727,150 overall.
As of July 4, Pandora’s average purchase price per share was DKK 425.43 (£45).

The single biggest transaction for the company occurred on June 30 2014, with DKK 26,243,352 (£2.79m). This was quickly followed by a DKK 20,072,895 (£2.13m) transaction on July 2, resulting in the buy-back of 47,156 shares.

Overall, Pandora has spent DKK 1,009,196,617 (£107.4m) since the scheme began in February.

As a result of these transactions, Pandora owns a total of 4,150,663 treasury shares, corresponding to 3.2% of the share capital.

This data was released just weeks after Pandora released its interim financial report for Q1 2014 revealing positive growth of 30% compared to Q1 2013.

European reveanue increased by 49.2% (48.3% in local currency), with the geographic areas of the Americas and Asia Pacific rising 10.7% and 54.3% respectively.

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