Transactions in relation to share repurchase program –

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News Desk 2018

Mar 20, 2017 at 1:00 PM 61

Transactions in relation to share repurchase program – week 11

In Week 11 2017, Icelandair Group hf. (The “Company”) purchased 13,934,395 of its own shares. The total purchase price is ISK 198,896,022, as detailed below:

		Own shares at the beginning of period			68,401,860
		Purchased at nominal value in week 11			13,934,395
		Total turnover in week 11			198,896,022


Date	Time	No. of shares bought	Shareprice	Turnover	No. of own shares after the transaction
13/3/2017	10:01	1,000,000	14.25	14,250,000	69,401,860
13/3/2017	10:17	1,000,000	14.25	14,250,000	70,401,860
13/3/2017	10:54	1,000,000	14.19	14,190,000	71,401,860
13/3/2017	11:48	450,000	14.20	6,390,000	71,851,860
13/3/2017	15:17	1,000,000	14.14	14,140,000	72,851,860
14/3/2017	10:24	980,575	14.28	14,002,611	73,832,435
14/3/2017	13:38	19,425	14.28	277,389	73,851,860
14/3/2017	14:47	175,000	14.35	2,511,250	74,026,860
14/3/2017	14:47	825,000	14.35	11,838,750	74,851,860
14/3/2017	14:49	5,800	14.20	82,360	74,857,660
14/3/2017	15:29	994,200	14.29	14,207,118	75,851,860
15/3/2017	10:28	381,020	14.25	5,429,535	76,232,880
15/3/2017	10:52	395,020	14.25	5,629,035	76,627,900
15/3/2017	13:24	821,176	14.25	11,701,758	77,449,076
16/3/2017	09:49	1,000,000	14.10	14,100,000	78,449,076
17/3/2017	09:48	1,000,000	14.41	14,410,000	79,449,076
17/3/2017	09:48	1,000,000	14.41	14,410,000	80,449,076
17/3/2017	11:21	1,000,000	14.40	14,400,000	81,449,076
17/3/2017	13:33	261,096	14.26	3,723,229	81,710,172
17/3/2017	15:24	626,083	14.30	8,952,987	82,336,255

Prior to the aforementioned share repurchase, the Company owned 68,401,860 of its own shares but now owns 82,336,255 of its own shares, corresponding to 1.65% of the Company‘s total share capital.

The trade is in accordance with a share repurchase program authorized by the Annual General Meeting on the 10th of March 2016 and has been put in motion according to an announcement published in NASDAQ Iceland on the 20th of February 2017.

Icelandair Group hf. has acquired 57,336,255 of its own shares under the program which corresponds to 1.15% of the total share capital and the total value of repurchased shares amounts to ISK 850,492,129. According to the program, The Company may not purchase more than 114,000,000 of its own shares, corresponding to 2.28% of the total share capital. The total consideration for shares under the program shall not exceed ISK 1,700 million. The share repurchase program is valid until September 8th 2017 or until the total allowed amount of shares are purchased by the Company, whichever happens first.

The share repurchase program is executed in accordance with Chapter VIII. of Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to Regulation No. 630/2005 on Inside Information and Market Abuse, with later amendments.

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