Heimar hf. Increases Ownership Through Strategic Buybacks
During a recent trading week, Heimar hf. took proactive steps to enhance its market position by purchasing 4,000,000 of its own shares for a total of 134,600,000 ISK. This calculated move signals the company's commitment to maximizing shareholder value.
Details of Recent Share Acquisitions
Below is a summary of the share purchases made by Heimar:
Transaction Overview
On various dates within this period, Heimar hf. executed a series of transactions totaling 4,000,000 shares. The breakdown of these transactions highlights the strategic timing and pricing:
- Date: 04.11.2024, Shares Purchased: 1,000,000, Transaction Price: 33.3, Total Purchase Price: 33,300,000 ISK
- Date: 05.11.2024, Shares Purchased: 1,000,000, Transaction Price: 33.3, Total Purchase Price: 33,300,000 ISK
- Date: 07.11.2024, Shares Purchased: 1,000,000, Transaction Price: 34, Total Purchase Price: 34,000,000 ISK
- Date: 08.11.2024, Shares Purchased: 1,000,000, Transaction Price: 34, Total Purchase Price: 34,000,000 ISK
Total Acquisitions and Impact on Shareholder Equity
Before these transactions, Heimar owned 23,312,500 shares. Post-acquisition, the total climbs to 27,312,500, representing approximately 1.51% of the company’s issued shares. The significant financial commitment totals 857,700,000 ISK.
Adherence to Regulatory Standards
The execution of this buyback strategy is in full compliance with Iceland's Public Limited Companies Act and the regulations set forth by the European Commission. This ensures that the actions taken align with European market regulations for share buybacks.
Future Prospects and Buyback Program Details
The buyback program, announced recently, allows for a maximum expenditure of 500,000,000 ISK. The validity of this program extends up to the company's 2025 Annual General Meeting, and until this limit is reached, Heimar will continue to buy back shares, further reinforcing investor confidence.
Company Leadership Contact Information
For any inquiries regarding the buyback program or other inquiries, please reach out to:
Björn Eyþór Benediktsson – Chief Financial Officer – eythorb@heimar.is
Frequently Asked Questions
What is the total amount Heimar hf. allocated for share buybacks?
The total allocation for the share buyback program is 500,000,000 ISK.
How many shares does Heimar hf. currently own after the buybacks?
Heimar hf. currently holds 27,312,500 shares, which is about 1.51% of its issued shares.
When does the buyback program end?
The buyback program will remain in effect until the maximum limit is reached or until the company’s 2025 Annual General Meeting.
Who can I contact for more information regarding the buyback program?
You can reach out to Björn Eyþór Benediktsson, Chief Financial Officer, at eythorb@heimar.is.
What regulations does Heimar hf. follow during the buyback process?
Heimar hf. adheres to the Icelandic Public Limited Companies Act and relevant EU regulations regarding market abuse and share buybacks.
