Festi hf. Announces Significant Progress in Buyback Initiative

Author: Owen Jenkins Updated: 07-14-2025 04:45 AM

Festi hf. Announces Buyback Program Progress

In an exciting development, Festi hf. has recently completed a significant step in its buyback program, acquiring a total of 150,000 own shares for an impressive sum of 44,250,000 ISK. This buyback activity was carried out in week 28, demonstrating the company’s commitment to enhancing shareholder value.

Details of Share Purchases

The specifics of the share acquisitions reveal a well-planned strategy. On various dates within the week, numerous transactions took place:

Transaction Overview

The following details highlight the buyback transactions:

Week: 28
Dates of Purchases: 8th, 9th, and 11th July 2025
Total Shares Purchased: 150,000
Total Purchase Amount: 44,250,000 ISK

Each transaction showcased a consistent share price of around 294-297 ISK, reflecting the economic confidence in Festi hf.

Compliance and Transparency

This proactive buyback initiative aligns with the regulations set forth under the Act on Public Limited Companies and pertinent European Union rules concerning market activities. These actions reaffirm Festi's commitment to adhering to legal standards while enhancing its market position.

Impact of the Buyback Program

Prior to these transactions, Festi hf. held approximately 411,226 shares, representing 0.13% of its total issued shares. After these strategic purchases, the total shares held have now reached 561,226, equating to roughly 0.18% of the company's issued shares.

Future Outlook

Festi’s buyback program, originally announced in June 2025, sets an ambitious target of acquiring 2,500,000 shares overall, or about 0.80% of its total issued shares, with a purchase cap of 800 million ISK. The ongoing buyback strategy is envisioned to resonate positively among shareholders and reinforce market confidence.

Contact Information

For any inquiries, reach out to Magnús Kr. Ingason, CFO of Festi hf. via email at 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 from the market, thus reducing the number of shares in circulation.

How many shares have been purchased so far?

As of now, Festi has purchased a total of 315,000 own shares since the initiation of the buyback program.

What regulations govern this buyback initiative?

The buyback activities comply with the Act on Public Limited Companies and key regulations from the European Parliament concerning market conduct.

What is the total amount allocated for the buyback?

Festi has allocated a total maximum budget of 800 million ISK for the buyback program.

How can I get more information about the buyback program?

For further details, you can contact CFO Magnús Kr. Ingason through the provided email.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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