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.
