Pandora A/S
PANDORA A/S – NOTICE OF ANNUAL GENERAL MEETING

DGAP-News: Pandora A/S

2015-02-23 / 12:00

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Pursuant to article 6.3 of the Articles of Association of Pandora A/S (the
'Company'), the Annual General Meeting of the Company is hereby convened to be
held on 

                    Wednesday 18 March 2015 at 10:00 am CET

The Annual General Meeting will be held at

  Radisson Blu Falconer Hotel & Conference Center, Falkoner Allé 9, DK-2000
                             Frederiksberg, Denmark

with the following agenda:

  1. The Board of Directors' report on the Company's activities during the past
     financial year.
     
  2. Adoption of the Annual Report 2014.
     
  3. Resolution proposed by the Board of Directors on remuneration to the Board
     of Directors for 2014 and 2015.
     
     3.1   Approval of remuneration for 2014
     3.2   Approval of remuneration level for 2015.  
     
  4. Resolution proposed on the distribution of profit as recorded in the
     adopted Annual Report, including the proposed amount of any dividend to be
     distributed or proposal to cover any loss.
     
  5. Resolution on the discharge from liability of the Board of Directors and
     the Executive Management.
     
  6. Any proposals by the shareholders and/or Board of Directors.
     
     The Board of Directors has submitted the following proposals:
     6.1    Reduction of the Company's share capital.
     6.2    Authority to the Board of Directors to let the Company buy back
     treasury shares.
     6.3    Amendments to the Company's Articles of Association.
     6.4    Authority to the chairman of the Annual General Meeting.
     
  7. Election of members to the Board of Directors.
     
  8. Election of auditor.
     
  9. Any other business.



COMPLETE PROPOSALS

Re agenda item 2:
The Board of Directors proposes that the audited Annual Report 2014 be approved
by the General Meeting. 

Re agenda item 3:
Re agenda item 3.1
The Board of Directors proposes that the actual remuneration of the Board of
Directors for 2014 be approved by the General Meeting. Reference is made to the
Annual Report 2014, note 2.3. 

Re agenda item 3.2
The Board of Directors proposes that the following remuneration level for the
financial year 2015 be approved by the General Meeting: 

The Chairman of the Board of Directors will receive a fixed fee of DKK
1,500,000, the Deputy Chairman will receive DKK 750,000, and other members of
the Board of Directors will each receive DKK 500,000. If the proposal in agenda
item 6.3 is adopted by the General Meeting, each of the Deputy Chairmen will
receive a fixed fee of DKK 750,000. Furthermore, a number of committees have
been established. The chairman of a committee will receive a fixed fee of DKK
150,000 and a committee member will receive a fixed fee of DKK 100,000 for this
work, regardless of how many committees a member is involved in. The Chairman
of the Board of Directors will not receive any committee fee. 

Re agenda item 4:
The Board of Directors proposes that a dividend of DKK 9.0 per share be paid on
the profit for the year available for distribution according to the Annual
Report. No dividend will be paid on the Company's holding of treasury shares.
The remaining amount will be transferred to the Company's reserves. 

Re agenda item 5:
The Board of Directors proposes that the General Meeting discharge the Board of
Directors and the Executive Management from liability. 

Re agenda item 6:
The Board of Directors has submitted the following proposals:

6.1   Reduction of the Company's share capital.

6.2   Authority to the Board of Directors to let the Company buy back treasury
shares. 

6.3   Amendments to the Company's Articles of Association.

6.4   Authority to the chairman of the Annual General Meeting.

Re agenda item 6.1
As previously announced in the Company's annual report for the financial year
2013, the Company has launched a share buyback programme of up to a maximum
consideration of DKK 2,400 million in 2014. The purpose of such share buyback
programme is to reduce the Company's share capital and to meet its obligations
under the share option programmes for the Company's employees. In line with the
previous announcement, the Board of Directors hereby submits a proposal to
reduce the Company's share capital to the effect that a part of the acquired
treasury shares are cancelled while the remaining part of the acquired treasury
shares are maintained by the Company for the purpose of fulfilling the
Company's obligations in connection with the incentive programmes for the
Company's employees. 

The share buyback programme was implemented in the period 18 February to 31
December 2014. Reference is made to the company announcements available on the
Company's website www.pandoragroup.com. 

Against that background, the Board of Directors proposes that the Company's
share capital be reduced by a nominal amount of DKK 5,818,651 by cancellation
of a nominal amount of DKK 5,818,651 treasury shares of DKK 1, equal to 4.5 %
of the Company's total share capital. Under section 188 of the Danish Companies
Act it is stated that the purpose of the reduction is to cancel a part of the
Company's portfolio of treasury shares. According to the Danish Business
Authority's practice, this purpose may be compared to a capital reduction to be
distributed to the shareholders, see section 188(1)(ii) of the Danish Companies
Act. In that connection, the Board of Directors states that the shares have
been acquired at a total amount of DKK 2,160,625,107.43 to the effect that, in
addition to the nominal reduction amount of DKK 5,818,651, an amount of DKK
2,154,806,456.43 has been distributed. Following the capital reduction, the
Company's nominal share capital will be DKK 122,297,169. 

As a result of the share capital reduction, it is proposed that article 4.1 of
the Articles of Association should be amended to read as follows after expiry
of the time period prescribed in section 192 of the Danish Companies Act: 

'The Company's share capital is nominally DKK 122,297,169, divided into shares
of DKK 1 or any multiple thereof.' 

Before the implementation of the capital reduction, the Company's creditors
will be requested, through the Danish Business Authority's IT system, to file
their claims within a time limit of 4 weeks, see section 192(1) of the Danish
Companies Act. Under section 193(2) of the Danish Companies Act, the Danish
Business Authority will automatically register the implementation of the
capital reduction and the resulting amendment to the Articles of Association as
being final 4 weeks after the expiry of the time limit for the creditors'
filing of claims or, at the request of the Board of Directors, on any earlier
date unless the implementation at such time cannot take place under the
provisions of the Danish Companies Act. 

Re agenda item 6.2
The Board of Directors proposes that the general meeting authorises the Board
to, in the period until 17 March 2020, allow the Company to acquire treasury
shares up to an aggregate nominal value of 10 % of the Company's  share
capital, provided that the Company's holding of treasury shares does not at any
time exceed 10 % of the Company's share capital. The purchase price paid in
connection with acquisition of treasury shares must not diverge from the price
quoted on NASDAQ OMX Copenhagen A/S at the time of acquisition by more than
10%. 

Re agenda item 6.3
The Board of Directors proposes that the Company's Articles of Association be
amended as follows: 

a) That the provision in article 11.2 of the Articles of Association is amended
as follows: 

'The Board of Directors elects among its members a chairman and one or two
deputy chairmen. At its initial meeting, the Board of Directors will decide
which of the two deputy chairmen are to replace the chairman and undertake his
responsibilities and exercise his powers in his absence. Where two deputy
chairmen have been elected, the second deputy chairman will replace the
chairman in the event that both the chairman and the first deputy chairman are
absent.' 

b) That the provision in article 11.3 of the Articles of Association is amended
as follows: 

'The Board of Directors forms a quorum when more than half of all directors are
represented. All business transacted by the Board of Directors shall be decided
by a simple majority of votes. In the event of an equality of votes, the
chairman and in his absence the deputy chairman, see article 11.2, holds the
casting vote.' 

c) That the provision in article 14.1 of the Articles of Association is amended
as follows: 

'The Company shall be bound by the joint signatures of the chairman or any of
the deputy chairmen of the Board of Directors and a member of the Executive
Management or by the joint signatures of two members of the Board of Directors
or all members of the Board of Directors'. 

Re agenda item 6.4
It is proposed that the chairman of the Annual General Meeting is authorised to
make such amendments and additions to the resolutions passed by the Annual
General Meeting and to the application for registration with the Danish
Business Authority as the Authority may require for registration. 

Re agenda item 7:
Pursuant to article 11.1 of the Articles of Association, the Board of Directors
shall consist of three to ten directors elected by the General Meeting. All
members of the Board of Directors elected by the General Meeting stand for
election at the Annual General Meeting. 

The Board of Directors currently consists of the following ten board members
elected by the general meeting:  Peder Tuborgh (Chairman), Christian Frigast
(Deputy Chairman), Andrea Dawn Alvey, Torben Ballegaard Sørensen, Nikolaj
Vejlsgaard, Ronica Wang, Anders Boyer-Søgaard, Bjørn Gulden, Per Bank and
Michael Hauge Sørensen. 

Torben Ballegaard Sørensen and Nikolaj Vejlsgaard will not stand for
re-election. 

By company announcement no. 186 of 28 August 2014, the Company informed that
Anders Colding Friis, CEO of Scandinavian Tobacco Group A/S, will join the
Company in March 2015 as new CEO. At that time, the Company's current CEO Allan
Leighton will be stepping down from his role as CEO after reporting the
Company's full year results for 2014. It was further announced that the Board
of Directors will recommend Allan Leighton be elected as new Co-Deputy Chairman
of the Board at the next Annual General Meeting. Allan Leighton has previously
served as Chairman of the Company's Board of Directors during the period from 8
September 2010 to 1 July 2013. 

On this basis, the Board of Directors proposes that Allan Leighton is elected
as a new member of the Company's Board of Directors. 

The composition of the Company's Board of Directors reflects the skills and
experience which is deemed required to manage a public listed company. The
Company aims at composing the Board of Directors to consist of persons who
possess the professional skills and international experience required to serve
as a board member. 

A detailed description of the board candidates and information on their
managerial posts is attached hereto as Appendix 1. The description is also
available on the Company's website www.pandoragroup.com. 

If the proposal is adopted, the Company's Board of Directors will consist of
Peder Tuborgh, Christian Frigast, Allan Leighton, Andrea Dawn Alvey, Ronica
Wang, Anders Boyer-Søgaard, Bjørn Gulden, Per Bank and Michael Hauge Sørensen. 

Re agenda item 8:
The Board of Directors proposes re-election of Ernst & Young P/S as auditor of
the Company. 


VOTING REQUIREMENTS

The resolutions under agenda items 6.1 and 6.3 proposed by the Board of
Directors require at least two-thirds of the votes cast and of the share
capital represented at the Annual General Meeting; see section 106(1) of the
Danish Companies Act. All other proposals may be passed by a simple majority of
votes; see article 10.2 of the Articles of Association. 

DATE OF REGISTRATION, ADMISSION, PROXY AND POSTAL VOTE

Date of registration, right to attend and right to vote
A shareholder's right to attend the Annual General Meeting and to vote is
determined on the basis of the shares held by such shareholder at the date of
registration (1 week before the Annual General Meeting), i.e. on Wednesday 11
March 2015. The shares held by each shareholder are determined at the date of
registration on the basis of the shareholdings registered in the share register
and in accordance with any notices on shareholdings received by the Company but
not yet registered in the share register. To be entitled to vote, the
shareholder must request an admission card no later than 3 days before the
Annual General Meeting, i.e. no later than on Friday 13 March 2015. 

Notice of attendance and admission card
An admission card is required for attending the Annual General Meeting. A
shareholder, its proxy or advisor wishing to attend the Annual General Meeting
and to receive an admission card must notify the Company of their attendance no
later than on Friday 13 March 2015; see article 9.5 of the Articles of
Association. 

Admission cards may be requested as follows:

  -- Electronically on the Company's website www.pandoragroup.com; or


  -- By returning the form attached hereto as Appendix 2, duly completed, dated
     and signed, by letter to Computershare A/S, Kongevejen 418, DK-2840 Holte,
     Denmark, by fax +45 45 46 09 98 or by email, scan-to-email to
     agm@computershare.dk.

Admission cards and voting forms will be sent after the date of registration by
ordinary mail to the address indicated on the form. Admission cards that have
been requested later than Thursday 12 March 2015 at 4:00 pm CET will be handed
out together with voting forms at the entrance to the Annual General Meeting. 

Proxy/postal vote
Shareholders prevented from attending the Annual General Meeting may vote by
proxy by authorising the Board of Directors or a named third party as proxy
representative or by postal voting. A shareholder may either grant proxy or
submit a postal vote, but not both. 

  -- Electronic proxy forms or electronic postal votes may be submitted through
     the Company's website www.pandoragroup.com by using NemID or username and
     access code.


  -- Physical proxy forms or physical postal votes may be submitted by using the
     Proxy and Postal Voting Form attached as Appendix 2 which may also be
     printed from the Company's website www.pandoragroup.com. The duly
     completed, dated and signed Proxy and Postal Voting Form must be sent by
     letter to Computershare A/S, Kongevejen 418, DK-2840 Holte, Denmark, by fax
     +45 45 46 09 98 or by email, scan-to-email to agm@computershare.dk.


Proxy forms/postal votes may be submitted for shares held at the date of
registration as determined on the basis of the Company's share register as well
as any information on shareholdings received by the Company but not yet
registered in the share register; see article 9.5 of the Articles of
Association. 

Proxy forms (electronic or physical) must be received by Computershare A/S no
later than on Friday 13 March 2015 at 11:59 pm CET, whereas postal voting forms
(electronic or physical) must be received by Computershare A/S no later than on
Tuesday 17 March 2015 at 12:00 pm CET (noon). 

Once received by the Company, a postal vote is binding on the shareholder and
cannot be revoked. 

SHARE CAPITAL, VOTING RIGHTS AND CUSTODIAN BANK

The Company's share capital is DKK 128,115,820, divided into shares of DKK 1 or
multiples thereof. 

Article 9 of the Articles of Association contains the following provisions on
voting rights: 

9.1       Each share of DKK 1 carries one vote.

9.2       Shareholders may attend general meetings in person or by proxy and
may, in both cases, be accompanied by an adviser. 

9.3       Proxies may exercise voting rights on behalf of shareholders subject
to presenting a written and dated instrument of proxy. The Company shall make a
written or electronic proxy form available to all shareholders entitled to vote
at the general meeting. 

9.4       A shareholder's shareholding and voting right will be determined at
the date of registration on the basis of the ownership registered in the
register of shareholders and the notices concerning ownership received by the
Company for the purpose of entering such ownership into the register of
shareholders. The date of registration is one week before the date of the
general meeting. 

9.5       Shareholders shall notify the Company of their attendance or their
proxy's attendance at any general meeting no later than three days before the
date of the meeting. This requirement shall also apply to any adviser.
Admission cards will be issued to the persons who are registered shareholders
as per the date of registration or from whom the Company has received notice,
by the date of registration, to enter into the register of shareholders. 

9.6       Shareholders may vote by post. Postal votes shall reach the Company
not later than at 12:00 pm CET (noon) on the day before the general meeting.
Once received by the Company, a postal vote is binding on the shareholder and
cannot be revoked. 

The Company has designated Nordea Bank Danmark A/S as its custodian bank,
through which the Company's shareholders may exercise their financial rights. 

QUESTIONS

At the Annual General Meeting, the Board of Directors and the Executive
Management will answer questions from the shareholders on matters of relevance
to the assessment of the Annual Report, the Company's position and any other
questions to be addressed at the Annual General Meeting. Questions may be asked
until 12:00 pm CET (noon) on the day before the Annual General Meeting in
writing to Pandora A/S, Hovedvejen 2, DK-2600 Glostrup, Denmark, addressed to
the Legal Department for the attention of General Counsel Lars Jensen or by
email to legal@pandora.net. Questions from shareholders can be asked in both
Danish and English. Such questions will be answered in English and may be
answered in Danish if so requested by the shareholder. 

AGENDA, LANGUAGE, ETC.

No later than 3 weeks before the Annual General Meeting, the complete,
unabridged text of the documents to be submitted to the Annual General Meeting
as well as the agenda with the complete proposals to be transacted at the
Annual General Meeting will be made available for inspection at the reception
desk at the Company's registered office, Hovedvejen 2, DK-2600 Glostrup,
Denmark, on all business days from 8:00 am to 4:00 pm CET. 

No later than 3 weeks before the Annual General Meeting, the following
information will also be made available on the Company's website
www.pandoragroup.com: 

  1. The notice convening the Annual General Meeting.
  2. The total number of shares and voting rights at the date of the notice
     convening the Annual General Meeting.
  3. The documents to be submitted to the Annual General Meeting, including the
     agenda and the complete proposals and the audited Annual Report 2014.
  4. The forms to be used for voting by proxy and postal voting.

An overview of the Company's financial highlights for the past five financial
years is included as Appendix 3 to this notice. 

The Annual General Meeting will be held in English. Irrespective of article 9.8
of the Articles of Association and as a service to the shareholders, the
Company will offer simultaneous interpretation to or from Danish to any
shareholder who so wishes during the Annual General Meeting. 

PRACTICAL INFORMATION

Admission and registration at the Annual General Meeting will commence on
Wednesday 18 March 2015 at 9:00 am CET where coffee and tea will also be
served. 



                           Glostrup, 23 February 2015

                                  Pandora A/S

                                        

                             The Board of Directors



APPENDIX 1

Description of the candidates proposed by the Board of Directors

Peder Tuborgh was born in 1963, is a Danish citizen and currently lives in
Højbjerg, Denmark. 

Peder Tuborgh has been Chairman and member of the Board of Directors since
October 2014 and is also Chairman of the Remuneration Committee. Peder Tuborgh
is regarded as an independent Board member. 

The special skills possessed by Peder Tuborgh that are important for the
performance of his duties as a member of the Board of Directors of Pandora A/S
are his experience in global manufacturing and logistics, global branding,
sales and marketing as well as consumer sales and retail marketing. 

Peder Tuborgh holds an MSc in Economics and Business Administration from Odense
University, Denmark. Currently, he is CEO of Arla Foods amba. In addition,
Peder Tuborgh is vice chairman of Aarhus University and board member of Global
Dairy Platform, The Denmark-America Foundation and the Fulbright Commission as
well as Royal Greenland A/S. 

Christian Frigast was born in 1951, is a Danish citizen and currently lives in
Klampenborg, Denmark. 

Christian Frigast has been a member of the Board of Directors of Pandora A/S
since August 2010 and is also Deputy Chairman of the Board, Chairman of the
Nomination Committee and member of the Remuneration Committee.  Christian
Frigast is not regarded as an independent board member due to his position as
Managing Partner of Axcel. 

The special skills possessed by Christian Frigast that are important for the
performance of his duties as a member of the Board of Directors of Pandora A/S
are his experience in general management and active involvement in a number of
retail and other companies obtained through his numerous directorships. 

Christian Frigast holds an MSc in Political Science and Economics from the
University of Copenhagen. Currently, Christian Frigast is Managing Partner of
Axcel Management A/S and Chief Executive Officer of Axcel III KS Invest ApS,
Axcel IndustriInvestor A/S, CCTC Invest ApS, MNGT1 ApS, MP-AX I Invest ApS and
MP-AX II Invest ApS. Further, Christian Frigast is currently Chairman of the
boards of directors of Ax IV Exhausto Invest ApS, Ax No Invest ApS, Axcel II
A/S, Axcel II Management A/S, AxIII MP Holding ApS, KIFU-AX II A/S, Management
Invco A/S and MNGT2. In addition, Christian Frigast is Deputy Chairman of the
boards of directors of DVCA Danish Venture Capital and Private Equity
Association, Pandora A/S and Royal Scandinavia A/S. Christian Frigast is also a
member of the boards of directors of Axcel Management A/S, Nordic Waterproofing
AB and CCTC Invest ApS. 

Allan Leslie Leighton was born in 1953, is an English citizen and currently
lives in London, United Kingdom. 

Allan Leighton has been President, Chief Executive Officer of Pandora A/S since
1 July 2013. Prior hereto Allan Leighton served as Chairman of the Board of
Directors of Pandora A/S from 8 September 2010 to 1 July 2013.  Due to his
previous management positions with Pandora A/S, Allan Leighton is not regarded
as an independent board candidate. 

The special skills possessed by Allan that are important for the performance of
his duties as a member of the Board of Directors of Pandora A/S are his
experience within general management in listed companies, financial management
in listed companies, global supply chain and sourcing, consumer sales and
retail marketing, and global cross platform branding. 

Allan Leighton attended Harvard University's Advanced Management Program. He
has an Honorary Degree from Cranfield University and an Honorary Fellowship
from the University of Lancashire. Currently, Allan Leighton is chairman of
Pace PLC, Office Ltd. and Matalan Ltd., and non-executive director of Bighams
Ltd. 

Andrea Dawn Alvey was born in 1967, is an American citizen and currently lives
in Raleigh, North Carolina, USA. 

Andrea Dawn Alvey has been a member of the Board of Directors of Pandora A/S
since August 2010 and is also member of the Audit and Remuneration Committees.
Andrea Dawn Alvey is regarded as an independent board member. 

The special skills possessed by Andrea Dawn Alvey that are important for the
performance of her duties as a member of the Board of Directors of Pandora are
her experience and insight in global supply chains, IT operations and retail
financing. 

Andrea Dawn Alvey holds a Bachelor of Science in Business Economics/Statistics
from Southern Connecticut State University. Currently, Andrea Dawn Alvey is
President of Kitabco Investments, Inc. and Regional Developer for Peak
Franchising. 

Ronica Wang was born in 1962, is a citizen of Hong Kong and is currently based
in Asia, where she spends a large portion of her time in China. 

Ronica Wang has been a member of the Board of Directors of Pandora A/S since
March 2012 and is also member of the Nomination Committee. Ronica Wang is
regarded as an independent board member. 

The special skills possessed by Ronica Wang that are important for the
performance of her duties as a member of the Board of Directors of Pandora A/S
include her international experience within general management in listed
companies, consumer sales and retail marketing, global and cross platform
branding and the affordable goods industry. 

Ronica Wang holds an MBA from The Wharton Business School, University of
Pennsylvania, and a Bachelor Degree in Applied Science and Engineering
(Industrial Engineering) from the University of Toronto. She has also studied
multinational management at The London Business School. Currently, Ronica Wang
is the Chairman and Managing Director of The InnoGrowth Group, Ltd., which she
co-founded in 2007. She is also a company Director and member of the Board of
Directors of Active Kidz Shanghai. 

Anders Boyer-Søgaard was born in 1970, is a Danish citizen and currently lives
in Charlottenlund, Denmark. 

Anders Boyer-Søgaard has been a member of the Board of Directors of Pandora A/S
since March 2012 and is also Chairman of the Audit Committee and member of the
Nomination Committee. Anders Boyer-Søgaard is regarded as an independent board
member. 

The special skills possessed by Anders Boyer-Søgaard that are important for the
performance of his duties as a member of the Board of Directors of Pandora A/S
are his experience within general management in listed companies, financial
management in listed companies, as well as global supply chain and
manufacturing. 

Anders Boyer-Søgaard holds an M.Sc. (finance and accounting) from Copenhagen
Business School from 1997. Currently, Anders Boyer-Søgaard is CFO of GN Store
Nord A/S , GN ReSound A/S, Scanning Technology A/S and Beltone Europe Holdings
ApS. Furthermore, Anders Boyer-Søgaard is member of the board of directors in
GN Ejendomme A/S, GN GROC Ltd., GN Hearing Benelux B.V., GN Hearing s.r.l., GN
Otometrics A/S, GN Hearing Sverige AB, GN ReSound China Ltd., GN ReSound Japan
K.K., GN ReSound Norge as, GN ReSound Shanghai Ltd. and Scanning Technology
A/S. 

Bjørn Gulden was born in 1965 in Switzerland, is a Norwegian citizen and
currently lives in Hattingen, Germany. 

Bjørn Gulden has been a member of the Board of Directors of Pandora A/S since
August 2013 and is also member of the Remuneration Committee. Bjørn Gulden is
not regarded as an independent board member due to the fact that he served as
CEO of Pandora A/S during the period from 21 February 2011 until 1 July 2013. 

The special skills possessed by Bjørn Gulden that are important for the
performance of his duties as a member 

of the Board of Directors of Pandora A/S are his substantial skills related to
global sourcing, consumer sales and retail and comprehensive insight into the
affordable goods industry. 

Bjørn Gulden holds a BBA from the University of Rogaland, Norway and an MBA
from Babson Graduate School 

of Business in Boston, USA. Currently, Bjørn Gulden is CEO of Puma SE. Further,
Bjørn Gulden serves on the 

boards of Tchibo GmbH, Ekornes AS, Deichmann SE and Dansk Supermarked A/S.

Per Bank was born in 1967, is a Danish citizen and currently lives in Aarhus,
Denmark. 

Per Bank has been a member of the Board of Directors of Pandora A/S since March
2014 and is also member of the Nomination Committee. Per Bank is regarded as an
independent board member. 

The special skills possessed by Per Bank that are important for the performance
of his duties as a member 

of the Board of Directors of Pandora A/S are his experience within general
management in listed companies, consumer sales and retail marketing and
manufacturing. 

Per Bank graduated as an industrial engineer from the University of Southern
Denmark in 1992.  Currently, Per Bank is the Managing Director of Dansk
Supermarked A/S. Further, Per Bank is currently Chairman of the board of
directors of F. Salling A/S and Købmand Ferdinand Sallings Mindefond. 

Michael Hauge Sørensen was born in 1973, is a Danish citizen and currently
lives in Hong Kong. 

Michael Hauge Sørensen has been a member of the Board of Directors of Pandora
A/S since March 2014 and is also member of the Audit Committee. Michael Hauge
Sørensen is regarded as an independent board member. 

The special skills possessed by Michael Hauge Sørensen that are important for
the performance of his duties as a memberof the Board of Directors of Pandora
A/S are his experience within consumer sales and retail marketing, global and
cross platform branding and the affordable goods industry. 

Michael Hauge Sørensen is an alumni of Stanford Graduate School of Business and
has attended numerous management programmes at INSEAD and IMD. Currently,
Michael Hauge Sørensen is the Chairman of Kwintet AB and is also a member of
the board of directors of Zebra A/S, IC Group A/S and Michaso Holdings Limited. 



                                      ***



ABOUT PANDORA
PANDORA designs, manufactures and markets hand-finished and modern jewellery
made from genuine metals at affordable prices. PANDORA jewellery is sold in
more than 90 countries on six continents through approximately 9,900 points of
sale, including more than 1,400 concept stores. 

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs more
than 11,400 people worldwide of whom approximately 7,900 are located in
Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is
publicly listed on the NASDAQ Copenhagen stock exchange in Denmark. In 2014,
PANDORA's total revenue was DKK 11.9 billion (approximately EUR 1.6 billion).
For more information, please visit www.pandoragroup.com. 

CONTACT

For more information, please contact:  MEDIA RELATIONS      
INVESTOR RELATIONS                     Jakob Risom Langelund
Morten Eismark                         Press Officer        
VP Group Investor Relations            Phone +45 3673 0634  
Phone +45 3673 8213                    Mobile +45 6165 6540 
Mobile +45 3045 6719                                        
Magnus Thorstholm Jensen                                    
Investor Relations Officer                                  
Phone +45 4323 1739                                         
Mobile +45 3050 4402
News Source: NASDAQ OMX



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Language:    English       
Company:     Pandora A/S   
 
 
             Denmark       
ISIN:        DK0060252690  
 
 
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