SKEL Skeljungur hf.

Skeljungur hf.: Transactions in relation to a share buy-back program – repurchase is completed

Skeljungur hf.: Transactions in relation to a share buy-back program – repurchase is completed

In week 16 and 17 2020, Skeljungur purchased 3,405,235 of its own shares, at purchase price of ISK 26,495,310. See further details below:

DateTimeNo. of shares boughtShare price (rate)Purchase price (ISK)
17.4.202014:09:361.500.0007,8011.700.000
20.4.202011:33:051.000.0007,807.800.000
20.4.202014:44:19500.0007,753.875.000
21.4.202009:31:43405.2357,703.120.310
Total 3.405.235 26.495.310

The trade is in accordance with Skeljungur’s share buy-back program, announced to Nasdaq Iceland on March 18th, 2020. The main purpose of the program is to reduce the issued share capital of the company.

Skeljungur has now purchased a total of 24,820,946 own shares which corresponds to 100% of maximum amount of own shares that will be purchased according to the buy-back program. The repurchase according to the share buy-back program is therefore completed. The purchase price for the bought shares is total ISK 185,584,828. Skeljungur now owns a total of 24,820,946 shares or 1.25% of the Company’s share capital.

According to the buy-back program the maximum purchase price was not allowed to exceed ISK 250,000,000, provided that Skeljungur and its subsidiaries would only hold a maximum of 10% of the company´s shares. Since the conditions of the buy-back program have been met the buy-back program is over. The execution of the share buy-back program was 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,

Skeljungur is an energy company with operations in Iceland and in the Faroe Islands. Skeljungur sells fuel and oil to consumers and businesses in fisheries, agriculture, transportation, aviation and construction under the brands Skeljungur, Orkan, and Magn. Skeljungur is also in the retail market under the brand Kvikk. The company also sells fertilizer and other chemical products and is on the retail market. In Iceland the Company runs 65 gas stations and 4 oil depots. Magn P/F, Skeljungur´s subsidiary in the Faroe Islands, runs 11 retail and gas-stations and 2 oil depots. Magn also serves and sells oils for house heating to individuals and companies in the Faroe Islands. Skeljungur´s goal is to serve the energy needs of consumers and businesses in an efficient and safe way and in harmony with the environment.

EN
21/04/2020

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