Heimar hf. Regular Share Buyback Updates
In an ongoing effort to strengthen shareholder value, Heimar hf. recently completed a significant purchase of its own shares. During week 50, Heimar acquired a total of 3,000,000 shares at a combined purchase price of 106,100,000 ISK. This move is part of a broader initiative aimed at optimizing their investment strategies and enhancing market performance.
Details of the Recent Purchases
The specific transactions for the share buybacks included:
Date: 10.12.2024, Time: 15:15
Shares Purchased: 1,000,000
Transaction Price: 35.2 ISK
Purchase Price: 35,200,000 ISK
Date: 11.12.2024, Time: 09:39
Shares Purchased: 1,000,000
Transaction Price: 35.2 ISK
Purchase Price: 35,200,000 ISK
Date: 13.12.2024, Time: 10:20
Shares Purchased: 1,000,000
Transaction Price: 35.7 ISK
Purchase Price: 35,700,000 ISK
Overall, this brings the total number of shares purchased in this round to 3,000,000, highlighting Heimar's commitment to returning value to its shareholders.
Buyback Program Overview
The buyback initiative aligns with the company's broader strategy, which was launched on November 20, 2024. Under this program, Heimar intends to repurchase shares worth a maximum of ISK 500,000,000. This plan will remain active until the expenditure limit is reached, or until the company's annual general meeting in 2025, whichever comes first.
Impact on Share Ownership
Prior to these transactions, Heimar owned 41,445,833 shares. Following the recent buybacks, the company now holds a total of 44,445,833 shares, representing approximately 2.46% of the company’s issued shares.
Compliance with Regulations
All buyback operations will adhere to the strict regulations set forth by the Icelandic Public Limited Companies Act, No. 2/1995. Moreover, the execution strategy is in line with the regulatory framework established by the European Parliament and Council Regulation (EU) No. 596/2014, as well as the Icelandic Act on Measures Against Market Abuse, No. 60/2021.
This structured approach ensures that Heimar remains compliant with all relevant laws and maintains transparency with its investors.
Company Contacts for Further Information
For any additional queries or concerns regarding the buyback program, stakeholders can reach out to:
Björn Eyþór Benediktsson – Chief Financial Officer – eythorb@heimar.is
Frequently Asked Questions
What is the purpose of Heimar's share buyback program?
The program aims to enhance shareholder value by reducing the number of outstanding shares.
What was the total cost of the recent share buybacks?
Heimar spent a total of 106,100,000 ISK for the purchase of 3,000,000 shares.
How does Heimar ensure compliance with regulations during buybacks?
Heimar follows regulations set by the Icelandic Public Limited Companies Act and European market abuse regulations.
What will happen to the bought-back shares?
The shares bought back will typically be held in treasury or canceled, depending on corporate strategy.
How much of its total shares does Heimar own after the buyback?
After the buyback, Heimar owns approximately 2.46% of its total issued shares.
