FESTI N1 Hf

Festi hf.: Notification regarding execution of a buyback program

Festi hf.: Notification regarding execution of a buyback program

At the Annual General Meeting of Festi on March 22nd 2023, the shareholders approved to authorize the Board of Directors, pursuant to Article 55 of the Act on Public Limited Companies No. 2/1995, to purchase up to 10% of issued shares in the company.

The Board of Directors of Festi has, based on this mandate issued by the Annual General Meeting, decided on the execution of a buyback program. The purpose of the program is to decrease the number of issued shares. The aim is to buy back own shares for the maximum amount of 3,500,000 shares but the amount of the buyback will not exceed ISK 600 million in total purchase price. The buyback program will be effective from Friday, July 21st 2023, and until December 31st 2023, unless the conditions on the maximum amount of the buyback program will be reached prior to that date.

The buyback program will be executed in stages, with the maximum amount of shares set at 70,000 shares each day. This is equivalent to 25% of the daily average trade in the company’s share on Nasdaq OMX Iceland throughout June 2023. The share price shall not exceed the last independent transaction or highest independent existing purchase bid in the Nasdaq OMX Iceland trading venue, whichever is higher.

Landsbankinn hf. will supervise the execution of the buyback program and make all decisions regarding the acquisition of shares, including timing, independently of Festi.

The buyback program will be executed in accordance with the Act on Public Limited Companies, No. 2/1995, Article 5 of the Regulation of the European parliament and of the Council No. 596/2014, on market abuse, as well as the Commissions Delegated Regulation No. 2016/1052, cf. the Act on Actions against Market Fraud No. 60/2021.

Notices on trading in own shares according to the buyback program will be published at the end of the seventh trading day following the purchase of shares.

As of today, prior to the effective start of the buyback program, Festi owns 8,000,000 shares or 2,56% of the issued share capital.

For further information contact Magnús Kr. Ingason, CFO of Festi ()



EN
21/07/2023

Underlying

FESTIN1 Hf

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on N1 Hf

 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Issuance of a New Bond Series

Festi hf.: Issuance of a New Bond Series Festi hf. has today completed the sale of a new bond series, FESTI 050331, issued under the Company’s ISK 8,000,000,000 issuance programme. The bonds are index-linked with a nominal value of ISK 4,200,000,000 and were sold at a yield of 3.95%. The bond series have five-year maturity with two equal payments per year. The settlement date is scheduled for 20 February 2026. Subsequently, an application will be submitted for the bonds to be admitted to trading on the Main Market of Nasdaq Iceland. The proceeds from the issuance will be used to refinanc...

February 13, 2026 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Útgáfa á nýju skuldabréfi

Festi hf.: Útgáfa á nýju skuldabréfi Festi hf. lauk í dag sölu á nýjum almennum skuldabréfaflokki FESTI 050331, sem gefinn er út undir kr. 8.000.000.000 útgáfuramma félagsins. Seld voru verðtryggð skuldabréf að nafnvirði 4.200.000.000 kr. á ávöxtunarkröfunni 3,95. Skuldabréfaflokkurinn er til 5 ára með jöfnun afborgunum tvisvar á ári. Greiðslu- og uppgjörsdagur er fyrirhugaður 20. febrúar 2026 og í kjölfarið verður sótt um að skuldabréfaflokkurinn verði tekinn til viðskipta á Aðalmarkað Nasdaq Iceland. Afrakstri skuldabréfaflokksins verður varið til endurfjármögnunar á hluta af skuldum f...

February 13, 2026 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Annual General Meeting March 5, 2026

Festi hf.: Annual General Meeting March 5, 2026 The Board of Directors of Festi hf. hereby announces that the Annual General Meeting of the company will be held on Thursday March 5, 2025, at 10.00 at the Company’s headquarters at Dalvegur 10 – 14, Kópavogur. Enclosed is the notice of the Annual General Meeting with its’ agenda, proposals for the meeting, Remuneration Policy and the reports of the Remuneration Committee and the Nomination Committee. Further information regarding the Annual General Meeting and documents can be accessed on the Company’s website:     For further information ...

February 10, 2026 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Aðalfundur 5. mars 2026

Festi hf.: Aðalfundur 5. mars 2026 Stjórn Festi hf. boðar til aðalfundar sem haldinn verður fimmtudaginn 5. mars 2026 klukkan 10:00 í höfuðstöðvum félagsins að Dalvegi 10 – 14, Kópavogi. Fundarboð með dagskrá aðalfundar, tillögur til fundarins, skýrslur starfskjaranefndar og tilnefningarnefndar og starfskjarastefnu má finna í meðfylgjandi viðhengi. Allar frekari upplýsingar varðandi aðalfundinn auk fundargagna er hægt að nálgast á heimasíðu félagsins:  Nánari upplýsingar veitir Ásta S. Fjeldsted, forstjóri Festi hf. () Viðhengi ...

February 10, 2026 1 EN
 PRESS RELEASE
Free
FESTI N1 HF

Festi hf.: Buyback program week 6

Festi hf.: Buyback program week 6 In week 6 2026, Festi purchased in total 135,000 own shares for total amount of 46,440,000 ISK as follows: WeekDateTimePurchased sharesShare pricePurchase priceWeek 62.2.202611:46           35.000345,00    12.075.000Week 63.2.202613:08           35.000345,00    12.075.000Week 64.2.202610:35           35.000342,00    11.970.000Week 65.2.202615:17           30.000344,00    10.320.000 The execution of the buyback program is in accordance with the Act on Public Limited Companies No 2/1995, Article 5 of the Regulation of the European parliament and of the Counci...

February 9, 2026 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch