Kaldalón hf. Share Buyback Program Overview
Kaldalón hf. has officially launched a new share buyback program aimed at enhancing liquidity and reducing its share capital. This initiative comes following a shareholders' meeting that granted the Board authority to acquire shares of the company, capped at 10% of its share capital. With an impressive capacity to hold ISK 1,119,568,483 worth of shares, the company is poised for significant financial maneuvers and increased shareholder value.
Previous Share Purchases
Under prior authorizations, Kaldalón has already made strides in purchasing shares. In 2024, the company allocated ISK 613,868,947 to acquire 33,700,150 shares, showcasing its commitment to strengthening its financial positioning.
Moreover, in 2025, Kaldalón executed a successful buyback of 14,189,921 treasury shares, spending ISK 349,999,991. The company now retains these shares, which amount to 1.31% of its total issued share capital. This proactive approach demonstrates Kaldalón's strategic focus on enhancing shareholder value through effective capital management.
Details of the New Buyback Program
Beginning on 28 October 2025, Kaldalón will embark on this new buyback initiative with a target to repurchase up to 9 million shares, marking 0.83% of its issued shares. The program is designed to balance the company's capital structure and boost market confidence.
The total consideration for this buyback initiative will not exceed ISK 250,000,000, reflecting a calculated approach to ensuring the program meets financial prudence while enhancing share value. The buyback operations will continue until either the maximum volume or consideration is reached, but will come to a close no later than 31 December 2025.
Execution Strategy and Management
To ensure effective execution of the buyback program, Kaldalón has appointed Íslandsbanki hf. as the managing entity. Íslandsbanki will independently determine the specifics of the purchasing decisions, which adds a layer of professional oversight to the buyback process. This strategic partnership underlines Kaldalón's commitment to transparency and fairness in share trading.
The buyback will be implemented by purchasing shares in tranches, adhering to regulatory stipulations. The maximum price per share is set to the higher value of the latest independent trade or the current independent bid available on Nasdaq Iceland. This pricing strategy is crucial for ensuring that the company buys back shares at competitive market rates.
Legal Compliance and Disclosure
Kaldalón's share buyback program is designed to comply with Icelandic and EU laws. This includes following the Market Abuse Regulation (MAR), along with various other legislative frameworks that govern capital markets operations. These regulations are vital for maintaining market integrity and protecting shareholder interests.
Transactions related to the buyback will be stringently disclosed in line with legal requirements, assuring stakeholders that the buyback process maintains the highest levels of transparency and accountability.
Further Information
For any inquiries regarding the share buyback program, please reach out to:
Jón Þór Gunnarsson,
Chief Executive Officer
Email: jon.gunnarsson@kaldalon.is
Frequently Asked Questions
What is the purpose of Kaldalón's share buyback program?
The share buyback program aims to enhance liquidity and reduce the company's issued share capital.
How many shares does Kaldalón plan to repurchase?
Kaldalón intends to repurchase up to 9 million shares under this initiative.
What is the maximum expenditure for the share buyback?
The total expenditure for the buyback is capped at ISK 250,000,000.
Who will manage the share buyback program?
Íslandsbanki hf. has been appointed to manage the execution and trading decisions of the buyback.
When will the buyback program commence?
The program will start on 28 October 2025 and is expected to conclude by 31 December 2025, subject to certain conditions.
