Source: Eimskipafelag Islands hf.

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

In week 28 2019 Eimskip purchased 259,737 of its own shares, at a purchase price of ISK 46,661,239 as further stipulated below:

Date Time No. of shares Share price (rate) Purchase price (ISK)
8.7.2019 10:38:56  115,582  182 21,035,924 
9.7.2019 -  - -  -
10.7.2019 -  - -  -
11.7.2019 15:19:39  75,689  178 13,472,642 
12.7.2019 09:58:03  68,466  177,5  2,152,673 
Total    259,737    46,661,239 

The trade is in accordance with Eimskip‘s buy-back program as published on Nasdaq Iceland on 10 June 2019.

Eimskip held 2,266,871 own shares prior to the notified transactions, or the equivalent of 1,21% of issued shares in the company, and holds 2,526,608 after them, or the equivalent of 1,35% of issued shares in the company.

In week 28 Eimskip purchased a total of 259,737 company‘s own shares. The total purchase price amounted to ISK 46,661,239 which corresponds to 9% of the maximum market value amount according to the buy-back program. Eimskip has bought a total of 2,165,838 shares in the company amounting to ISK 408,267,958 market value in the buy-back program.

Buy-back under the program will amount to a maximum of 3,000,000 shares and the market value amount will not exceed ISK 500,000,000. The buy-back program is in effect until 24 January 2020, unless the conditions for maximum purchase are met before that time.

The buyback program was 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, “Trade in own shares under buy-back programmes and the stabilisation of financial instruments.”

For further information please contact Edda Rut Björnsdóttir, head of Marketing & Communication via phone (+354) 825-3399 or investors@eimskip.is