NOTES
86•Consolidated financial statements
PANDORAANNUAL REPORT2014
SECTION 4: CAPITAL STRUCTURE AND NET FINANCIALS, CONTINUED
4.1 SHARECAPITAL
Shares
Nominal
Share capital
(number)
value (DKK)
Balance at 1 January 2014
130,143,258
130,143,258
Reduction of share capital
-2,027,438
-2,027,438
Balance at 31December 2014
128,115,820
128,115,820
Balance at 1 January 2013
130,143,258
130,143,258
Balance at 31December 2013
130,143,258
130,143,258
Shares
Nominal
Purchase
Treasury shares
(number)
value (DKK)
price
% of shares
Balance at 1 January 2014
3,539,023
3,539,023
738,413,909
2.7%
Used to settle share options
-170,784
-170,784
-35,861,172
-0.1%
Reduction of share capital
-2,027,438
-2,027,438
-423,023,083
-1.6%
Acquisitionof treasury shares
5,875,257
5,875,257
2,399,991,096
4.6%
Balance at 31December 2014
7,216,058
7,216,058 2,679,520,750
5.6%
Balance at 1 January 2013
182,925
182,925
38,414,250
0.1%
Acquisitionof treasury shares
3,356,098
3,356,098
699,999,659
2.6%
Balance at 31December 2013
3,539,023
3,539,023
738,413,909
2.7%
At 31December 2014, the share capital comprised
128,115,820 shareswith a par value of DKK 1. No shares
have special rights.
In 2014, PANDORA launched a share buyback
programme under which PANDORA expected to buy
back own shares of DKK2,400million or amaximum of
9,475,303 shares.
In 2014, PANDORA bought 5,875,257 treasury shares
equal to a purchase price of DKK 2,399,991,096.
Treasury shares
All treasury shares are owned by PANDORAA/S.Treasury
shares includes hedges for share-based incentive plans and
restricted stock grants to the Boardof Directors and key
employees.
