Accelerated Book-Build Offering – Completion

Further to company announcements no. 592 and no. 593 of 5 May 2020, Pandora A/S has completed the private placement of 8,000,000 treasury shares (the “Treasury Shares”), corresponding to 8% of Pandora A/S’ issued shares and registered share capital, at a sales price of DKK 226 per Treasury Share of nominal value of DKK 1 each. The offering generated gross proceeds of approximately DKK 1.8 billion, thus strengthening the financial flexibility of Pandora A/S and was oversubscribed by more than seven times. In connection with the Offering, Pandora A/S, members of the Board and executive management have agreed to undertake a lock-up commitment for 180 calendar days following settlement of the Offering. ISIN CODE AND TRADING
The Treasury Shares have ISIN code DK0060252690 and are admitted to trading and official listing on Nasdaq Copenhagen. 
Nordea Corporate & Investment Banking, Morgan Stanley & Co. International plc, and BNP Paribas acted as Joint Global Coordinators and Joint Bookrunners and Danske Bank A/S acted as Joint Bookrunner in connection with the Offering.
Pandora designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through 7,400 points of sale, including more than 2,700 concept stores.​
Headquartered in Copenhagen, Denmark, Pandora employs 28,000 people worldwide and crafts its jewellery at two LEED certified facilities in Thailand using mainly recycled silver and gold. The company plans to be carbon neutral by 2025 and has joined the Science Based Targets initiative to reduce emissions across its full value chain. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 21.9 billion (EUR 2.9 billion) in 2019.CONTACT
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DISCLAIMERThis company announcement contains forward-looking statements, which include estimates of financial performance and targets, including regarding projected liquidity requirements. These statements are not guarantees of future performance and involve certain risks and uncertainties, including in particular the impact of COVID-19 and related counter-measures in relevant countries with respect to which there is limited visibility and significant uncertainty. Therefore, actual future results and trends may differ materially from what is forecast in this report due to a variety of factors.This announcement is intended for the sole purpose of providing information. Persons needing advice should consult an independent financial adviser. This announcement does not constitute an investment recommendation.This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia, the “United States”), Australia, Canada, Japan, South Africa, except as permitted by applicable law, or any other jurisdiction in which such publication or distribution is unlawful.This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, South Africa or any other jurisdiction in which such offers or sales are unlawful (the “Excluded Territories”). Any failure to comply with this may constitute a violation of US, Australian, Canadian, Japanese or South African securities laws or the securities laws of other states as the case may be.The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or under the securities laws of any state of the United States, and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. Subject to certain limited exceptions, the securities referred to in this announcement were offered and sold only outside the United States. The securities offered in connection with the offering have not been and will not be registered under any applicable securities laws of any state, province, territory, county or jurisdiction of the Excluded Territories. Accordingly, such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the Excluded Territories or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There was no public offer of securities in the United States or elsewhere.This announcement is not a prospectus and has been prepared on the basis that any offers of securities referred to herein in any member state of the European Economic Area or the United Kingdom will be made pursuant to an exemption under Regulation (EU) 2017/1129 on prospectuses (the “Prospectus Regulation”). The information set forth in this announcement is only being distributed to, and directed at, persons in member states of the European Economic Area or the United Kingdom who are qualified investors (“Qualified Investors”) within the meaning of the Prospectus Regulation.In addition, in the United Kingdom, this information is only being communicated to, and is only directed at, Qualified Investors (x) who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (y) high net worth entities falling within Article 49(2)(a)-(d) of the Order, or (z) persons to whom it may otherwise lawfully be communicated (“Relevant Persons”).This information must not be acted or relied on by, and any investment activity to which this information relates is not available to and may not be engaged with, persons (i) in any member state of the European Economic Area who are not Qualified Investors, and (ii) in the United Kingdom who are not Relevant Persons.  No representation or warranty, express or implied, has been, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Pandora or by any of its affiliates or agents, or the Joint Global Coordinators or Joint Bookrunners, as to or in relation to, the accuracy, completeness or sufficiency of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers in connection with the company’s the new shares and/or the private placement referred to herein, and any liability therefore is expressly disclaimed.The Joint Global Coordinators and Joint Bookrunners and each of their affiliates are acting exclusively for Pandora A/S and no-one else in connection with the Offering. They will not regard any other person as their respective clients in relation to the Offering and will not be responsible to anyone other than Pandora A/S for providing the protections afforded to their respective clients, nor for providing advice in relation to the Offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.AttachmentCompany announcement no. 594

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