Skeljungur hf.: Transactions in relation to a share buy-back program
In week 42. and 43. 2020, Skeljungur purchased 6.000.000 of its own shares, at purchase price of ISK 47,122,500. See further details below:
| Date | Time | No. of shares bought | Share price (rate) | Purchase price (ISK) |
| 15.10.2020 | 09:31 | 1.500.000 | 7,88 | 11.820.000 |
| 16.10.2020 | 10:30 | 1.500.000 | 7,86 | 11.790.000 |
| 19.10.2020 | 09:54 | 1.500.000 | 7,82 | 11.730.000 |
| 20.10.2020 | 10:10 | 1.500.000 | 7,855 | 11.782.500 |
| Total | 6.000.000 | 47.122.500 |
The trade is in accordance with Skeljungur’s share buy-back program, announced to Nasdaq Iceland on October 8th, 2020. The main purpose of the program is to reduce the issued share capital of the company.
Skeljungur has now purchased a total of 12,000,000 own shares which corresponds to 37.98% of maximum amount of own shares that will be purchased according to the buy-back program. The purchase price for the bought shares is total ISK 94,942,500. Before the share buy-back program began Skeljungur owned 24,820,946 of own shares or the equivalent of 1,25% of the issued share capital.
Skeljungur now owns a total of 36,820,946 shares or 1.85% of the Company’s share capital.
According to the buy-back program the maximum purchase price may not exceed ISK 250.000.000, provided that Skeljungur and its subsidiaries shall only hold a maximum of 10% of the company´s shares. The share buy-back program will remain in effect until the Annual General Meeting in 2021, unless the conditions for maximum purchase are met before that time. The execution of the share buy-back program is in accordance with the Public Limited Company Act No. 2/1995 and Regulation on Insider Information and Market Manipulation No. 630/2005.
For further information please contact Ólafur Þór Jóhannesson, CFO, fjarfestar@skeljungur.is
www.skeljungur.is
https://www.linkedin.com/company/skeljungur-hf/