Kaldalón hf. Shares Update on Buyback Program
Kaldalón hf. recently announced its progress regarding the share buyback program initiated on Nasdaq Iceland hf. This structured buyback program is set against the backdrop of outlined regulations and market conditions. During the 27th week of the year, Kaldalón hf. reported no share purchases under this initiative, maintaining its commitment to fiscal responsibility.
Buyback Program Details
The share buyback program establishes a limit for a maximum acquisition of 15,000,000 shares, with the total investment capped at ISK 350,000,000. This initiative aims to enhance shareholder value while ensuring regulatory compliance. The program officially kicked off on 1 July 2024 and is structured to continue until the maximum number of shares is acquired or the financial limit is reached, or until the ultimate expiration date of 31 December 2025.
Current Status of Treasury Shares
At the time of launching the buyback program, Kaldalón hf. reported that it held no treasury shares, indicating a fresh initiative aimed at repurchasing shares from the market. So far, the company has not bought any shares under the program, reinforcing their strategic approach to capital management.
Compliance and Regulatory Framework
The execution of the share buyback will adhere strictly to the Icelandic Companies Act No. 2/1995 and Article 5 of Regulation (EU) No. 596/2014, which addresses market misconduct. Furthermore, the actions will align with Icelandic law, guided by the Act No. 60/2021, focusing on measures against market abuse. The buyback program will also conform to the Commission Delegated Regulation (EU) 2016/1052, ensuring technical standards are met.
Contact Information
For further insights or inquiries regarding the share buyback program, individuals are encouraged to reach out to Jón Þór Gunnarsson, the CEO of Kaldalón hf., via email at jon.gunnarsson@kaldalon.is.
Frequently Asked Questions
What is the purpose of Kaldalón hf.'s share buyback program?
The purpose is to increase shareholder value by repurchasing shares while adhering to regulatory standards.
How many shares can Kaldalón hf. buy back?
Kaldalón hf. can buy back a maximum of 15,000,000 shares under the current program.
Is there a financial limit on the buyback program?
Yes, the total consideration for the buyback program cannot exceed ISK 350,000,000.
When does the buyback program end?
The program will terminate either when the maximum number of shares is reached, the financial limit is attained, or by 31 December 2025, whichever comes first.
Who can I contact for more information about the buyback?
You can contact Jón Þór Gunnarsson, CEO of Kaldalón hf., for additional details.