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

In week 41. and 42. 2020, Skeljungur purchased 6,000,000 of its own shares, at purchase price of ISK 47,820,000. See further details below:

DateTimeNo. of shares boughtShare price (rate)Purchase price (ISK)
9.10.202009:33                        1.500.0008,0                          12.000.000    
12.10.202009:39                        1.500.0008,0                          12.000.000    
13.10.202009:39                            1.500.0007,94                          11.910.000    
14.10.202009:31                        1.500.0007,94                        11.910.000    

                         6.000.000                         47.820.000    

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 purchased in week 41. and 42. a total of 6,000,000 own shares. The purchase price for the bought shares is total ISK 47,820,000 which corresponds to 19,13% of the maximum amount that will be purchased for. 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 30.820.946 shares or 1,55% 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,