Heimar hf. Announces Major Share Buyback Activity
Heimar hf. Announces Major Share Buyback Activity
In a significant move this week, Heimar hf. has executed a share buyback program, acquiring a total of 5,000,000 shares. This initiative, which holds a total value of ISK 153,208,020, is part of the company's ongoing strategy to enhance shareholder value.
Details of the Transactions
The transactions, carried out over several days, reflect Heimar's dedication to this program. Each day’s purchases were carefully calculated and executed to ensure transparency and efficacy. On multiple occasions, Heimar purchased significant amounts of its own shares, further emphasizing its commitment to the buyback.
The Buyback Breakdown
Here’s a quick overview of the recent transactions:
Transaction Summary
On September 23, 2024, Heimar purchased 1,000,000 shares at a price of ISK 30.3, which totaled ISK 30,281,820. Following that, on September 24, another 1,000,000 shares were acquired for the same share price, amassing an additional ISK 30,281,820. The momentum continued on September 25 and 26, with purchases of 1,000,000 shares each at ISK 30.8, bringing in values of ISK 30,781,520 respectively.
Finally, on September 27, the company acquired the last 1,000,000 shares of the current round at a slightly increased price of ISK 31.1, totaling ISK 31,081,340. The total purchases during this week add up to a robust ISK 153,208,020, bringing Heimar's holdings to 8,000,000 shares, representing around 0.44% of the issued shares.
Pursuing Strategic Growth
Heimar's buyback program not only benefits the shareholders in terms of value but also reflects the company’s strong financial position. With the program announced to cap at a maximum of ISK 500,000,000, Heimar is committed to pursuing this strategy until its limit is reached or until the company’s Annual General Meeting in 2025.
Compliance with Regulations
All buyback activities are conducted adhering to comprehensive regulatory frameworks outlined in both the Public Limited Companies Act and EU directives, ensuring a transparent and fair process. This dedication to compliance demonstrates Heimar's commitment to ethical market practices.
Future Outlook for Heimar hf.
Heimar hf. remains focused on strategic growth avenues and enhancing shareholder value through diligent management of its finances and operations. The share buyback program stands out as a vital initiative in this pursuit, leading to potential long-term benefits for both the company and its investors.
For more insightful information on Heimar's corporate strategy and updates on future developments, stakeholders and interested parties are encouraged to keep an eye on official announcements and reports.
For further information, please contact: Björn Eyþór Benediktsson – Chief Financial Officer – eythorb@heimar.is
Frequently Asked Questions
What is the purpose of Heimar hf.'s buyback program?
The buyback program aims to enhance shareholder value by reducing the number of outstanding shares and increasing earnings per share.
How much is Heimar committing to its share buyback program?
Heimar is committing a maximum of ISK 500,000,000 to its share buyback program.
What have been the highlights of the recent buyback transactions?
Highlights include purchasing 5,000,000 shares across several days, totaling ISK 153,208,020.
How does Heimar ensure compliance with regulations?
Heimar adheres to the Public Limited Companies Act and relevant EU regulations regarding market practices for buybacks.
Who can be contacted for further details about Heimar's buyback program?
For more details, Björn Eyþór Benediktsson, the Chief Financial Officer, can be contacted directly via email.
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