Heimar hf. Completes Successful Share Buyback Program
Heimar hf. (“Heimar”) has announced the completion of its share buyback program, which signifies a strategic move in enhancing shareholder value. The commitment to this buyback program, initiated earlier in the month, has underscored the company's confidence in its long-term prospects.
Details of the Buyback Transactions
In week 42, Heimar conducted its final transaction under the approved buyback program. Specifically, the company purchased 312,500 shares with a combined total purchase price reaching 9,500,000 ISK. This significant acquisition showcases Heimar’s determination to manage its capital effectively and return value to its shareholders.
Overview of Share Purchases
The details of the transaction are highlighted as follows:
Date: 16.10.2024
Time: 10:00
Shares Purchased: 312,500
Transaction Price (Rate): 30.4 ISK per share
Total Purchase Price: 9,500,000 ISK
Impact on Heimar's Shareholding Structure
Before these transactions, Heimar owned 16,000,000 shares. Following the completion of the buyback program, the company’s holdings have increased to 16,312,500 shares, representing about 0.9% of its issued shares. This proactive measure not only reinforces Heimar's commitment to its shareholders but also reflects its robust financial position.
Compliance and Regulations
The execution of the buyback program was rigorously aligned with legal and regulatory frameworks. Heimar adhered to the Icelandic Public Limited Companies Act, as well as standards set forth by European regulations on market conduct. This compliance ensures that all buyback activities are transparent and reflect the highest standards of corporate governance.
Commitment to Shareholder Value
Following the completion of this buyback, Heimar hf. remains poised for future growth. The company has set a maximum limit of ISK 500,000,000 for buybacks, signaling its commitment to fortifying its market position until the stipulated limit is reached or until the next annual general meeting in 2025. This disciplined approach to capital management demonstrates Heimar’s focus on creating sustained value for its shareholders.
Contact Information
For any inquiries regarding the buyback program or for further information, stakeholders are encouraged to reach out to:
Björn Eyþór Benediktsson
Chief Financial Officer
eythorb@heimar.is
Frequently Asked Questions
What was the total amount Heimar spent on its buyback program?
Heimar spent a total of 9,500,000 ISK for the shares purchased during the buyback.
How many shares did Heimar buy back in total?
Heimar bought back a total of 312,500 shares during the buyback program.
What percentage of Heimar's issued shares does the company now hold?
After the buybacks, Heimar holds approximately 0.9% of its issued shares.
When was the buyback program announced?
The buyback program was announced in September 2024.
Who can be contacted for more information regarding the buyback?
For more information, you can contact Björn Eyþór Benediktsson, the Chief Financial Officer.
