Heimar hf. Completes Successful Share Buyback Program
The buyback program for Heimar hf. has officially concluded.
Recently, Heimar hf. announced that it has successfully completed its buyback program, which was initiated on October 16, 2024. This marks a significant step in the company’s strategy to enhance shareholder value.
Details of the Buyback Transactions
During week 47, Heimar hf. purchased a total of 133,333 of its own shares at an aggregate purchase price of 4,599,989 ISK. Here’s a breakdown of the key aspects:
Transaction Summary
The buyback activities occurred on November 20, 2024, at precisely 12:38 PM. The details of the transaction include:
- Shares Purchased: 133,333
- Transaction Price: 34.5 ISK per share
- Total Purchase Price: 4,599,989 ISK
Overview of Heimar's Share Structure
Before the buyback, Heimar hf. possessed 31,312,500 shares. With the recent transactions, the company now retains 31,445,833 shares, which corresponds to approximately 1.74% of all issued shares. The total investment in this buyback program sums up to 999,999,989 ISK.
Compliance with Regulations
This buyback program has been executed in full compliance with the Icelandic Public Limited Companies Act, No. 2/1995, as well as the relevant European regulations governing market abuse. The execution adhered to the specific stipulations set forth in the Icelandic Act on Measures Against Market Abuse, No. 60/2021, and the European Commission's delegated regulation No. 2016/1052/EU.
Future Plans and Impact
Looking ahead, Heimar hf. maintains its commitment to shareholder returns through thoughtful capital allocation. The company’s buyback program limits initially set at ISK 500,000,000, were designed to reach completion by the 2025 Annual General Meeting.
By ensuring that the buyback program was executed efficiently, Heimar hf. reinforces its pledge to enhance shareholder wealth and optimally manage its resources.
Frequently Asked Questions
What is the purpose of Heimar hf.'s buyback program?
The buyback program aims to return value to shareholders while controlling the number of shares in circulation.
How many shares were bought back by Heimar hf.?
Heimar hf. bought back a total of 133,333 shares during the program.
What was the total cost of the buyback transaction?
The total cost for the completed buyback was 4,599,989 ISK.
What percentage of shares does Heimar hf. own after the buyback?
Post-buyback, Heimar hf. owns approximately 1.74% of its issued shares.
What regulations govern the share buyback programs in Iceland?
The buyback programs comply with the Icelandic Public Limited Companies Act and relevant European Market Abuse regulations.
