Completion of Heimar hf.'s Share Buyback Program Successful

Author: Owen Jenkins Updated: 05-19-2025 05:46 AM

Heimar hf. Completes Buyback Program Successfully

The share buyback program announced earlier has now reached a significant milestone.

Recently, Heimar hf. executed a substantial buyback of its shares, totaling 2,950,000 shares for an impressive total price of 109,310,000 ISK. This buyback not only demonstrates the company's commitment to enhancing shareholder value but also reflects its strong market position.

Details of the Share Transactions

The following is a breakdown of the share purchases made by Heimar:

Transaction Overview

During the buyback period, the company conducted the following transactions:

Date: 13.5.2025
Time: 10:45
Shares Purchased: 1,000,000
Transaction Price: 36.8
Purchase Price: 36,800,000 ISK

Date: 15.5.2025
Time: 10.56
Shares Purchased: 1,000,000
Transaction Price: 36.6
Purchase Price: 36,600,000 ISK

Date: 16.5.2025
Time: 11:50
Shares Purchased: 950,000
Transaction Price: 37.8
Purchase Price: 35,910,000 ISK

Total Shares Purchased: 2,950,000
Total Purchase Price: 109,310,000 ISK

Significance of the Buyback Program

The buyback program represents a strategic initiative by Heimar hf., which aims to reach a maximum limit of 500,000,000 ISK. As per the program guidelines, it will remain active until the stated limit is met, with the conclusion anticipated before the company's upcoming Annual General Meeting.

Impact on Shareholder Value

Prior to executing this buyback, Heimar owned 10,995,000 shares. Now, after these transactions, the company holds 13,945,000 shares, which accounts for roughly 0.79% of all issued shares, reflecting a total investment of ISK 499,344,000. This strategic repurchase reinforces the commitment to maximizing shareholder returns.

Regulatory Compliance and Transparency

The execution of this buyback aligns with the Icelandic Public Limited Companies Act, ensuring compliance with the European regulations concerning market abuses and buyback protocols.

Heimar hf. is dedicated to operating within the legal frameworks to maintain a transparent relationship with its stakeholders while fostering a sustainable business growth.

For more information on this initiative or any other inquiries, please reach out through the contact provided below:

Björn Eyþór Benediktsson – Chief Financial Officer – eythorb@heimar.is

Frequently Asked Questions

What is the purpose of Heimar hf.'s share buyback program?

The buyback program aims to enhance shareholder value by reducing the number of shares in circulation, which can lead to increased earnings per share.

How much did Heimar hf. spend on the recent share buybacks?

Heimar hf. completed its buybacks at a total cost of 109,310,000 ISK for 2,950,000 shares.

Are the buybacks compliant with any regulations?

Yes, the buyback program adheres to the Icelandic Public Limited Companies Act and relevant European regulations on market conduct.

What are the future plans for Heimar's buyback program?

Heimar aims to continue the buyback program until it reaches the maximum budget of 500,000,000 ISK, ensuring continuous value for shareholders.

Who can be contacted for more information regarding the buyback?

For further details, individuals can contact Björn Eyþór Benediktsson, the Chief Financial Officer, via the email provided.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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