Heimar hf. Announces Share Buyback Details
Heimar hf. has made notable progress in implementing its share buyback program. During a recent week, the company purchased a total of 3,000,000 of its own shares, with an expenditure amounting to ISK 106,750,000. This initiative is part of a broader strategy that demonstrates the company’s commitment to enhancing shareholder value.
Buyback Transaction Insights
Here’s a detailed breakdown of the share buyback transactions completed by Heimar:
Total Shares Purchased: 3,000,000 shares
Transaction Breakdown
On various dates, Heimar executed notable transactions as follows:
- On April 22, the company acquired 500,000 shares at a price of 34.9 ISK, totaling ISK 17,450,000.
- Following that, on April 23, another 500,000 shares were purchased, priced at 35.4 ISK, accruing a total of ISK 17,700,000. In the same session, a further 1,000,000 shares were acquired at the same rate, leading to an additional expenditure of ISK 35,400,000.
- Finally, on April 25, Heimar bought another 1,000,000 shares priced at 36.2 ISK, amounting to ISK 36,200,000.
Objectives of the Buyback Program
The buyback program, which was officially announced on April 8, is aimed at improving the overall share value. The total buyback limit has been set at ISK 500,000,000, and this program will continue until this threshold is reached or until the 2026 Annual General Meeting. The initiative reflects Heimar’s proactive stance in creating value and building investor confidence.
Shareholder Position Post-Buybacks
Before undertaking these share acquisitions, Heimar held 3,645,000 shares. After these recent transactions, the total holdings increased to 6,645,000 shares. This represents approximately 0.37% of the company’s total issued shares, with the cumulative purchase price reaching ISK 233,164,000, signifying a robust investment in their future.
Compliance and Regulations
The execution of the buyback transactions is conducted in accordance with the Icelandic Public Limited Companies Act, which guarantees transparency and fairness in public trading. Heimar adheres to the regulations set forth by the European Parliament and Council regarding market abuse and follow-up measures from the European Commission's delegated regulations affecting buyback programs. Heimar prioritizes compliance to safeguard investor interests.
In the event of any discrepancies between English and Icelandic statements, the Icelandic interpretation will take precedence.
Further Inquiries
For more information regarding this announcement or any other inquiries, please reach out to Björn Eyþór Benediktsson, Chief Financial Officer at Heimar hf. You can contact him via email at eythorb@heimar.is.
Frequently Asked Questions
What is the purpose of Heimar hf.'s buyback program?
Heimar hf.'s buyback program is intended to enhance shareholder value and return capital to shareholders.
How many shares did Heimar hf. buy back recently?
The company bought back a total of 3,000,000 shares.
What was the total expenditure for the share buybacks?
The total purchase price for the shares acquired was ISK 106,750,000.
When was the buyback program announced?
The buyback program was announced on April 8, 2025.
How does Heimar ensure compliance with market regulations?
Heimar adheres to the Icelandic Public Limited Companies Act and European regulations on market abuse to ensure all operations are compliant.
