Skeljungur hf.: Transactions in relation to a share buy-back program
In week 45-46. 2020, Skeljungur purchased 4.500.000 of its own shares, at purchase price of ISK 35,947,500. See further details below:
| Date | Time | No. of shares bought | Share price (rate) | Purchase price |
| 5.11.2020 | 15:11 | 1.500.000 | 7,825 | 11.737.500 |
| 6.11.2020 | 09:45 | 1.500.000 | 7,825 | 11.737.500 |
| 10.11.2020 | 12:43 | 1.500.000 | 8,315 | 12.472.500 |
| Total | 4.500.000 | 35.947.500 |
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 23,500,000 own shares which corresponds to 94,68% of own shares that will be purchased according to the buy-back program. The purchase price for the bought shares is total ISK 187,330,000 which corresponds to 74.93% of maximum purchase price according to the buy-back program.
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 48,320,946 shares or 2.43 % of the Company’s share capital.
According to the buy-back program it is planned to buy up to 24,820,946 of the company’s own shares, which corresponds to 1,25% of the issued share capital, although the amount of the 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,
