Heimar hf. Expands Share Buyback Initiative with New Purchases

Heimar hf. Makes Significant Progress in Share Buyback Program

Heimar hf. has recently taken bold steps to enhance shareholder value through a strategic share buyback program. In week 46, the company repurchased 4,000,000 of its own shares for a total expenditure of 137,700,000 ISK. This move indicates a strong commitment to returning wealth to shareholders while potentially supporting the company's share price.

Details of Share Purchases

The buyback program reflected a meticulous approach to acquiring shares at various prices over a few days:

• Date: 11.11.2024 | Shares Purchased: 1,000,000 | Transaction Price: 34.2 ISK | Total Price: 34,200,000 ISK
• Date: 12.11.2024 | Shares Purchased: 1,000,000 | Transaction Price: 34.2 ISK | Total Price: 34,200,000 ISK
• Date: 13.11.2024 | Shares Purchased: 1,000,000 | Transaction Price: 34.4 ISK | Total Price: 34,400,000 ISK
• Date: 14.11.2024 | Shares Purchased: 1,000,000 | Transaction Price: 34.9 ISK | Total Price: 34,900,000 ISK

All these purchases affirm Heimar's dedicated strategy and commitment towards reinforcing stockholder interests.

The Importance of the Buyback Program

This buyback initiative is part of a larger approved program which was officially announced on October 16, 2024. The comprehensive plan allows Heimar hf. to buy back shares for a total amounting up to a maximum of ISK 500,000,000. Importantly, the execution of this buyback program will ensure compliance with the Icelandic Public Limited Companies Act, as well as European regulations governing market behavior.

Impact on Shareholder Structure

Prior to the recent buyback transactions, Heimar owned 27,312,500 shares. After completing the 4,000,000 shares buyback, the company now holds 31,312,500 shares, equating to around 1.73% of the total issued shares. The total purchase price for these shares since the initiation of the buyback program has now reached ISK 995,400,000, showcasing a significant investment in its own equity.

Market Regulations and Compliance

The buyback activities strictly adhere to Article 5 of the European Parliament and Council Regulation on Market Abuse and follow the Icelandic legislation against market manipulation. By aligning its strategies with existing laws, Heimar is ensuring that its operations not only benefit its shareholders but also uphold market integrity.

Future Directions for Heimar hf.

As Heimar hf. advances on its buyback path, it continues to explore ways to enhance shareholder value amidst changing market conditions. The diligent execution of this program signifies confidence in the company’s financial health and long-term vision, aiming to navigate safely through future market volatility.

For any further information regarding Heimar hf.'s buyback endeavors, you can directly reach out to:

Contact Information

Björn Eyþór Benediktsson – Chief Financial Officer
Email: eythorb@heimar.is

Frequently Asked Questions

1. What is Heimar hf.'s recent share buyback activity?

Heimar hf. has repurchased 4,000,000 shares for a total of 137,700,000 ISK, aiming to improve shareholder value.

2. How does the buyback program impact shareholders?

This program aims to increase shareholder returns by reducing the number of shares outstanding and potentially increasing earnings per share.

3. Are there any legal regulations governing the buyback?

Yes, the buyback adheres to the Icelandic Public Limited Companies Act and European regulations on market abuse.

4. How many shares does Heimar own after the buyback?

After the buyback, Heimar now holds 31,312,500 shares, representing about 1.73% of the company’s total issued shares.

5. What is the maximum budget for the share buyback program?

The approved budget for the share buyback program is ISK 500,000,000 until the budget is exhausted or until the 2025 Annual General Meeting.

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