Overview of Festi hf.'s Recent Buyback Program
Festi hf. recently announced the results of their buyback program for week 49, revealing that they acquired a total of 103,774 shares. The financial investment in these shares amounted to 34,425,420 ISK, reflecting a strategic initiative aimed at enhancing shareholder value.
Details of Share Purchases
Throughout the week, multiple transactions contributed to this buyback program. Notably, on December 4, 2025, a substantial purchase of 53,774 shares occurred at a share price of 330,00 ISK, leading to a total purchase price of 17,745,420 ISK. This was followed by additional purchases on December 5, 2025, consisting of two transactions: one for 10,000 shares at 332,00 ISK, and another for 40,000 shares at 334,00 ISK, totaling 3,320,000 ISK and 13,360,000 ISK, respectively, for these batches.
Shareholder Impact and Ownership Changes
Prior to these transactions, Festi held approximately 2,746,226 shares, equivalent to 0.88% of all issued shares. Following the completion of this week’s buyback, their holdings increased to 2,850,000 shares, representing 0.91% of the total issued shares. This increase demonstrates Festi's commitment to leveraging buybacks as a method of bolstering their investment standing.
Regulatory Compliance and Buyback Program Framework
The execution of this buyback program aligns with the provisions set forth in the Act on Public Limited Companies and European regulations regarding market practices. Specifically, the actions are consistent with critical regulations including No. 596/2014 on market abuse and the Delegated Regulation No. 2016/1052. These regulatory frameworks ensure transparency and investor protection as Festi pursues its corporate strategies.
Future Buyback Plans
The ongoing buyback initiative was initially announced on December 3, 2025, with the company targeting the repurchase of up to 2,500,000 shares, approximately 0.80% of the issued shares, limited by a purchase price cap of 825 million ISK. The framework for this buyback program indicates a cautious, yet proactive approach towards capital management.
Contact Information
For those seeking further insights or details about this buyback program, please reach out to Magnús Kr. Ingason, the Chief Financial Officer at Festi hf. Direct inquiries can be directed to mki@festi.is.
Frequently Asked Questions
What is the purpose of Festi's buyback program?
The buyback program aims to enhance shareholder value by repurchasing shares, thereby reducing the number of shares available in the market.
How many shares were purchased during week 49?
During week 49, Festi purchased a total of 103,774 own shares.
What was the total investment amount for these shares?
The total investment made by Festi for these shares amounted to 34,425,420 ISK.
What impact does the buyback have on share ownership?
The buyback increased Festi's ownership from 2,746,226 shares (0.88%) to 2,850,000 shares (0.91%) among the issued shares.
Who can be contacted for more information on the buyback program?
Inquiries regarding the buyback program can be addressed to Magnús Kr. Ingason, CFO, at mki@festi.is.
