Eimskip's Strategic Share Buy-Back Program
In the recent week, Eimskip took notable steps to enhance its stock value by purchasing 175,000 of its own shares. The total purchase amounted to ISK 54,005,000, reflecting the company's strategic approach to managing its equity. Let’s break down the details of this significant transaction.
Purchase Details
Eimskip's share buy-back initiative showcases the company's solid financial footing and commitment to returning value to its shareholders. Below are the specific transactions conducted during the share buy-back program:
Transaction Breakdown
For transparency, here are the key dates and details about the shares acquired:
- Date: October 27, 2025; Shares Purchased: 35,000; Share Price: 309 ISK; Total Purchase: 10,815,000 ISK.
- Date: October 28, 2025; Shares Purchased: 35,000; Share Price: 309 ISK; Total Purchase: 10,815,000 ISK.
- Date: October 29, 2025; Shares Purchased: 35,000; Share Price: 309 ISK; Total Purchase: 10,815,000 ISK.
- Date: October 30, 2025; Shares Purchased: 35,000; Share Price: 308 ISK; Total Purchase: 10,780,000 ISK.
- Date: October 31, 2025; Shares Purchased: 35,000; Share Price: 308 ISK; Total Purchase: 10,780,000 ISK.
Program Overview
This trade aligns with Eimskip’s buy-back program that was publicly announced earlier. The program entails the acquisition of up to 2,250,000 shares with a maximum total purchase price of ISK 750,000,000. The initiative will remain active for a duration of 18 months following the Annual General Meeting held in March, unless the program's purchasing cap is reached prior to that.
Total Shares Acquired
To date, under the current buy-back program, Eimskip has successfully acquired a total of 829,680 shares, investing ISK 287,693,000 in the process. Before these transactions, Eimskip held 2,380,000 shares and now retains 2,555,000 shares following the buy-back, representing approximately 1.54% of the total issued shares.
Compliance and Regulations
The execution of Eimskip’s buy-back program adheres strictly to the Act on Public Limited Companies, No. 2/1995. Moreover, the program is carried out in compliance with EU regulations concerning market abuse and other relevant Icelandic laws that regulate buy-back programs.
Contact Information
For more details about the share buy-back program or any other inquiries, please reach out to:
Guðbjörg Birna Björnsdóttir
Head of Treasury and Investor Relations
Phone: +354 844 4752
Email: investors@eimskip.com
Frequently Asked Questions
What is a share buy-back program?
A share buy-back program is where a company purchases its own shares from the marketplace, reducing the number of outstanding shares and often increasing shareholder value.
Why is Eimskip conducting a share buy-back?
Eimskip is undertaking a buy-back to enhance shareholder value and demonstrate confidence in its financial standing.
How many shares has Eimskip repurchased so far?
As of now, Eimskip has repurchased a total of 829,680 shares under the current buy-back program.
What was the total expenditure on the recent shares purchased?
The total expenditure for the recent share purchases was ISK 54,005,000.
How does this impact shareholders?
The buy-back program is expected to increase the value of remaining shares, thereby benefiting current shareholders.
