Nova Klúbburinn hf. Reports Significant Share Buyback Activity
Nova Klúbburinn hf. Shares Buyback Plan Implementation
In the 37th week of the year, Nova Klúbburinn hf. executed a substantial buyback of its own shares, purchasing 2,686,000 shares for a total price of 9,899,320 kr. This strategic move aligns with the company's goal to enhance shareholder value.
Details of the Share Buyback Transactions
The specific transactions took place at various intervals, showing a clear commitment to the outlined buyback strategy. Here are the noteworthy details:
Summary of Share Purchases
On September 9, 2024, Nova Klúbburinn hf. acquired 588,000 shares at a price of 3.70 kr. This transaction cost amounted to 2,175,600 kr. Subsequent purchases on September 10 included 467,000 shares at 3.69 kr. for a total of 1,723,230 kr., and another 458,000 shares later that day at 3.68 kr. for 1,685,440 kr.
Continued Efforts Towards Shareholder Value
Moreover, on September 11, the company bought 507,000 shares at 3.69 kr. totaling 1,870,830 kr. The buying continued, culminating in a significant purchase of 666,000 shares on September 13, priced at 3.67 kr. for 2,444,220 kr. These transactions led to a total buyback of 2,686,000 shares, demonstrating Nova Klúbburinn hf.'s active approach to managing its shares.
Regulatory Compliance and Future Outlook
This buyback strategy was executed in accordance with the approved plan announced by Nova Klúbburinn hf. on April 24, 2024. The company has committed to a maximum buyback limit of 550 million kr. This plan is projected to be in effect until this limit is reached, but it will not extend beyond the company’s annual general meeting in 2025.
Nova Klúbburinn hf.'s Stock and Future Plans
Following these transactions, Nova Klúbburinn hf. holds 54,468,000 shares, equating to approximately 1.48% of the total issued shares. The overall purchase price of these shares adds up to 208,205,600 kr. This strategic approach is crucial for maintaining investor confidence and demonstrating the company’s solid financial health.
Commitment to Legal Standards
The implementation of the buyback plan adheres strictly to Icelandic company laws and relevant European regulations. This includes compliance with the EU Regulation No. 596/2014 regarding market abuse, ensuring transparent and fair practices within the market.
Contact Information for Shareholder Queries
For further details, stakeholders are encouraged to reach out to Thorhallur Johannsson, the Chief Financial Officer of Nova Klúbburinn hf., via email at fjarfestatengsl@nova.is for any investor relations inquiries.
Frequently Asked Questions
What is the purpose of the share buyback by Nova Klúbburinn hf.?
The share buyback is aimed at enhancing shareholder value and managing the company's equity effectively.
How many shares did Nova Klúbburinn hf. buy back in total?
Nova Klúbburinn hf. purchased a total of 2,686,000 shares during this buyback program.
When was the buyback plan announced?
The buyback plan was announced by Nova Klúbburinn hf. on April 24, 2024.
What is the maximum limit for the buyback transactions?
The maximum limit for the buyback transactions is set at 550 million kr.
Who can provide more information regarding the buyback?
Questions about the buyback can be directed to Thorhallur Johannsson, CFO, at the contact email provided.
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