Announcement no. 11/2025
12 March 2025
Reykjavik, Iceland/Copenhagen, Denmark, 12 March, 2025. Embla Medical (Nasdaq Copenhagen: EMBLA), a leading global provider of innovative mobility solutions, today announced the results from the 2025 Annual General Meeting.
Results of the Annual General Meeting
- The meeting approved to carry the Company's net profit in 2024 over to the following year.
- The meeting approved the Company's Consolidated Financial Statements for the year 2024.
- The meeting approved the Company's Remuneration Policy. See attachment.
- The meeting approved the proposed remuneration to the Board of Directors for the year 2025.
Chair of the Board - USD 114,000
Vice Chair of the Board - USD 76,000
Board Member - USD 38,000
Chair of the Audit Committee - USD 15,000
Audit Committee Member - USD 7,500
- The meeting re-elected the following individuals to serve on the Board of Directors until the next Annual General Meeting:
Dr. Alberto Esquenazi
Dr. Svafa Grönfeldt
Mr. Niels Jacobsen
Mr. Arne Boye Nielsen
Ms. Tina Abild Olesen
Ms. Caroline Vagner Rosenstand
- The meeting elected PwC as the Company's Auditor.
- The meeting approved the following proposal on an authorization to initiate share buyback programs:
"The Board of Directors is authorized, until the next Annual General Meeting 10 March 2026, to allow the Company to initiate one or more share buyback programs (the "Programs") that comply with the provisions of Regulation No. 596/2014 of the European Parliament and of the Council on market abuse ("MAR") and the Commission's delegated regulation 2016/1052. The main purpose of the Programs shall be to reduce the Company's share capital, but the shares purchased may also be used to meet the Company's obligations under share incentive programs with employees. The Company may purchase up to 8,000,000 shares in total under the Programs, corresponding to 1.9% of the current share capital. The total consideration for shares purchased under the Programs shall not exceed USD 40 million. The Company shall not purchase more than 25% of the average volume of the shares each trading day based on the average volume the 20 trading days preceding the date of purchase on the regulated market where the purchase is carried out. 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. Each Program shall be managed by an investment firm or a credit institution which makes its trading decisions in relation to the Company's shares independently of, and without influence by, the Company regarding the timing of the purchases. The Company's purchases under the Programs shall be disclosed in accordance with law and regulations."
Board decisions following the Annual General Meeting
After the general meeting, Mr. Niels Jacobsen was re-elected as Chair of the Board of Directors and Dr. Svafa Grönfeldt was re-elected as Vice Chair. Mr. Arne Boye Nielsen, Dr. Alberto Esquenazi and Ms. Caroline Vagner Rosenstand were appointed to the Audit Committee.
With reference to the authorizations (i) to purchase own shares approved at the Company's Annual General Meeting on 13 March 2024, and (ii) to initiate share buyback programs approved at the Company's Annual General Meeting today, 12 March 2025, the Board granted management an authorization to purchase own shares on behalf of the Company, in one or more transactions or through share buyback programs.
Terms and conditions:
- A purchase shall be made to maintain the target range of 2.0 - 3.0x NIBD/EBITDA set out in the Company's Capital Structure and Capital Allocation Policy.
- 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.
- A purchase shall always be carried out within the limits of the relevant authorization of the Annual General Meeting and in accordance with applicable law and rules.
The authorization is valid until the next Annual General Meeting in 2026.
Further information
Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134
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About Embla Medical
Embla Medical (Nasdaq Copenhagen: EMBLA) was founded in Reykjavik in 1971 with the mission to improve people's mobility. Embla Medical is home to several brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing and supports solutions; FIOR & GENTZ, an innovative developer of neuro orthotics; and College Park Industries, creators of custom-built prosthetic solutions. Embla Medical also provides patients with world-class care through a global network of Orthotic and Prosthetic (O&P) facilities. Embla Medical is committed to sustainable business practices and is signatory to the UN Global Compact, UN Women's Empowerment Principles, and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has more than 4,000 employees. www.emblamedical.com
Embla Medical was formerly listed as Össur (OSSR) on Nasdaq Copenhagen until 8 April 2024.
