SKEL Skeljungur hf.

Skeljungur hf.: Transactions in relation to a share buy-back program

Skeljungur hf.: Transactions in relation to a share buy-back program

In week 43-44. 2020, Skeljungur purchased 4.500.000 of its own shares, at purchase price of ISK 36,615,000. See further details below:

DateTimeNo. of shares boughtShare price (rate)Purchase price
23.10.202010:521.500.0008,1612.240.000
27.10.202011:011.500.0008,1312.195.000
28.10.202009:36970.0008,127.876.400
28.10.202009:37530.0008,124.303.600
 



Total		 4.500.000 36.615.000

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 16,500,000 own shares which corresponds to 52.62% 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 131,557,500. 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 41,320,946 shares or 2.08 % 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,

EN
29/10/2020

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