Transactions in relation to share repurchase program – week 16 and 17

| Source: Icelandair Group hf. Icelandair Group hf.

In Week 16 and 17 2017, Icelandair Group hf. (The “Company”) purchased 8,994,200 of its own shares. The total purchase price is ISK 121,413,580, as detailed below:   

 

     Own shares at the beginning of period                          115,004,645    
     Purchased at nominal value in week 16 and 17                              8,994,200    
     Total turnover in week 16 and 17                            121,413,580    
           
           
Date Time  No. of shares bought  Shareprice  Turnover  No. of own shares
after the transaction
21/4/2017 14:13          1,000,000                        13.22              13,220,000                              116,004,645    
24/4/2017 11:54               11,200                        13.50                    151,200                              116,015,845    
25/4/2017 09:33          1,000,000                        13.42              13,420,000                              117,015,845    
26/4/2017 09:31          1,000,000                        13.41              13,410,000                              118,015,845    
27/4/2017 09:40             520,000                        13.40                6,968,000                              118,535,845    
27/4/2017 10:55             480,000                        13.40                6,432,000                              119,015,845    
27/4/2017 11:32             159,990                        13.35                2,135,867                              119,175,835    
27/4/2017 11:48             840,010                        13.32              11,188,933                              120,015,845    
27/4/2017 14:30          1,000,000                        13.20              13,200,000                              121,015,845    
27/4/2017 14:31          1,000,000                        13.12              13,120,000                              122,015,845    
28/4/2017 09:54          1,000,000                        14.15              14,150,000                              123,015,845    
28/4/2017 15:19             983,000                        14.26              14,017,580                              123,998,845    

 

Prior to the aforementioned share repurchase, the Company owned 115,004,645 of its own shares but now owns 123,998,845 of its own shares, corresponding to 2.48% of the Company‘s total share capital.

The trade is in accordance with a share repurchase program authorized by the Annual General Meeting on the 10th of March 2016 and has been put in motion according to an announcement published in NASDAQ Iceland on the 20th of February 2017.

Icelandair Group hf. has acquired 98,998,845 of its own shares under the program which corresponds to 1.98% of the total share capital and the total value of repurchased shares amounts to ISK 1,428,977,260. According to the program, The Company may not purchase more than 114,000,000 of its own shares, corresponding to 2.28% of the total share capital. The total consideration for shares under the program shall not exceed ISK 1,700 million. The share repurchase program is valid until September 8th 2017 or until the total allowed amount of shares are purchased by the Company, whichever happens first.

The share repurchase program is executed in accordance with Chapter VIII. of Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to Regulation No. 630/2005 on Inside Information and Market Abuse, with later amendments.