Eimskip: Transaction in relation to a share buy-back program

·2 min read
Eimskipafelag Islands hf.
Eimskipafelag Islands hf.

In week 25 2022 Eimskip purchased 265,000 of its own shares, at a purchase price of ISK 121,850,000 as further stipulated below:

Date

Time

No. of shares

Share price

Purchase price

20.6.2022

12:11:33

40,000

466,00

18,640,000

20.6.2022

14:32:06

30,000

466,00

13,980,000

21.6.2022

14:13:14

35,000

458,00

16,030,000

23.6.2022

14:17:49

50,000

462,00

23,100,000

23.6.2022

15:17:02

20,000

462,00

9,240,000

24.6.2022

11:05:51

50,000

454,00

22,700,000

24.6.2022

13:35:09

40,000

454,00

18,160,000

Total

 

265,000

 

121,850,000

The trade is in accordance with Eimskip‘s buy-back program as published on Nasdaq Iceland on 30 May 2022.

Eimskip held 1,052,050 own shares prior to the notified transactions, and holds 1,317,050 after them, or the equivalent of 0,76% of issued shares in the company.

Under current buy-back program Eimskip has purchased a total of 1,285,743 shares in the company, corresponding to 74% of the maximum amount of shares to be purchased under this program. Total purchase price is ISK 624,104,925 corresponding to 69% of the maximum ISK amount of the buy-back program.

Buy-back under the program will amount to a maximum of 1,730,000 shares and the market value amount will not exceed ISK 900,000,000. The buy-back program is in effect for 18 months post the Annual General Meeting held 17 March 2022, unless the conditions for maximum purchase are met before that time.

The execution of the buy-back program must comply with Act on Public Limited Companies, No. 2/1995. In addition, the buy-back program must be implemented as provided for in the Regulation of the European Parliament and of the Council no. 596/2014, on market abuse, as well as the Commission Delegated Regulation (EU) 2016/1052 on regulatory technical standards for the conditions applicable to buy-back programs and stabilization measures, which supplements that Regulation.

For further information please contact Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communications, tel: +354 825-3399, or email: investors@eimskip.is.