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Skeljungur hf.: Transactions in relation to a share buy-back program
In week 43-44. 2020, Skeljungur purchased 4.500.000 of its own shares, at purchase price of ISK 36,615,000. See further details below:
Date | Time | No. of shares bought | Share price (rate) | Purchase price |
23.10.2020 | 10:52 | 1.500.000 | 8,16 | 12.240.000 |
27.10.2020 | 11:01 | 1.500.000 | 8,13 | 12.195.000 |
28.10.2020 | 09:36 | 970.000 | 8,12 | 7.876.400 |
28.10.2020 | 09:37 | 530.000 | 8,12 | 4.303.600 |
| 4.500.000 | 36.615.000 |
The trade is in accordance with Skeljungur’s share buy-back program, announced to Nasdaq Iceland on October 8th, 2020. The main purpose of the program is to reduce the issued share capital of the company.
Skeljungur has now purchased a total of 16,500,000 own shares which corresponds to 52.62% of maximum amount of own shares that will be purchased according to the buy-back program. The purchase price for the bought shares is total ISK 131,557,500. Before the share buy-back program began Skeljungur owned 24,820,946 of own shares or the equivalent of 1,25% of the issued share capital.
Skeljungur now owns a total of 41,320,946 shares or 2.08 % of the Company’s share capital.
According to the buy-back program the maximum purchase price may not exceed ISK 250.000.000, provided that Skeljungur and its subsidiaries shall only hold a maximum of 10% of the company´s shares. The share buy-back program will remain in effect until the Annual General Meeting in 2021, unless the conditions for maximum purchase are met before that time. The execution of the share buy-back program is in accordance with the Public Limited Company Act No. 2/1995 and Regulation on Insider Information and Market Manipulation No. 630/2005.
For further information please contact Ólafur Þór Jóhannesson, CFO, fjarfestar@skeljungur.is
www.skeljungur.is
https://www.linkedin.com/company/skeljungur-hf/
