No. 148
COMPANY ANNOUNCEMENT
10 March 2014

On 18 February, PANDORA initiated a share buy-back programme, cf. Company announcement no. 143. The programme was implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to reduce PANDORAs share capital and to meet obligations arising from employee share option programmes.

Under the programme PANDORA will buy back shares for an amount up to 2,400 million in the period from 18 February to 31 December 2014.

The following transactions have been made under the programme:

	Number of shares	Average purchase price, DKK	Transaction value, DKK
Accumulated last announcement	300,636		103,475,879
3 March 2014	78,705	355.53	27,981,666
4 March 2014	1,312	363.72	477,198
5 March 2014	17,971	363.08	6,524,868
6 March 2014	6,559	364.42	2,390,206
7 March 2014	78,705	364.10	28,656,231
Accumulated under the program	483,888		169,506,047

               

With the transactions stated above, PANDORA owns a total of 3,934,839 treasury shares, corresponding to 3.0% of the share capital.

ABOUT PANDORA

PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 80 countries on six continents through approximately 10,300 points of sale, including approximately 1,100 Concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 8,500 people worldwide of whom 5,900 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2013, PANDORA's total revenue was DKK 9.0 billion (approximately EUR 1.2 billion). For more information, please visit www.pandoragroup.com.

CONTACT

For more information, please contact:
 

INVESTOR RELATIONS                             Morten Eismark                                              VP Group Investor Relations                          Phone +45 3673 8213                                     Mobile +45 3045 6719	MEDIA RELATIONS Jakob Risom Langelund Press Officer Phone +45 3673 0634 Mobile +45 6165 6540

Magnus Thorstholm Jensen
Investor Relations Officer
Phone +45 4323 1739
Mobile +45 3050 4402