Source: Eimskipafelag Islands hf.

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

In week 29 2019 Eimskip purchased 213,471 of its own shares, at a purchase price of ISK 38,221,679 as further stipulated below:

Date Time No. of shares Share price (rate) Purchase price (ISK)
15.7.2019 - - -
16.7.2019 10:31:36 50,000 178,25 8,912,500
16.7.2019 10:33:39   5,866 178,25 1,045,615
17.7.2019 09:32:19 53,066 179,00 9,498,814
18.7.2019 09:46:52 54,340 179,50 9,754,030
19.7.2019 10:33:46 50,199 179,50  9,010,721 
Total    213,471    38,221,679 

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

Eimskip held 2,526,608 own shares prior to the notified transactions, or the equivalent of 1,35% of issued shares in the company, and holds 2,740,079 after them, or the equivalent of 1,47% of issued shares in the company.

In week 29 Eimskip purchased a total of 213,471 company‘s own shares. The total purchase price amounted to ISK 38,221,679 which corresponds to 8% of the maximum market value amount according to the buy-back program. Eimskip has bought a total of 2,379,309 shares in the company amounting to ISK 446,489,647 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