Bifogade filer
Íslandsbanki hf.: Transactions in relation to a share repurchase programme – end of round of buybacks
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Island |
|---|---|
| Lista | Large Cap Iceland |
| Sektor | Finans |
| Industri | Storbank |
Reference is made to an announcement from Íslandsbanki hf., published 14 June 2024 on the implementation of a share repurchase programme relating to own shares.
In week 35 Íslandsbanki hf. (the Bank) purchased in total 277,887 own shares for the total amount of ISK 29,042,079 as follows:
| Date | Time | Purchased shares | Price per share | Purchase Price ISK | Total own shares |
| 26.08.2024 | 14:39:30 | 100,000 | 104.25 | 10,425,000 | 87,051,476 |
| 28.08.2024 | 11:04:02 | 100,000 | 104.00 | 10,400,000 | 87,151,476 |
| 29.08.2024 | 15:15:27 | 77,887 | 105.50 | 8,217,079 | 87,229,363 |
| Total week 35 | 277,887 | 29,042,079 |
Before the above purchase in week 35 the Bank owned 86,951,476 own shares, or 4.35% of issued shares.
This round of share buybacks, announced to the market on 14 June 2024 is now concluded. According to the aforementioned announcement, the aim was to repurchase own shares of the maximum amount of 11 million shares or 0.55% of issued shares, the total purchase price for repurchased shares however not exceeding ISK 1,000,000,000 in total.
During this round of repurchase of own shares the Bank purchased in total 9,939,226 own shares or 0.50% of issued shares, and the total purchase price thereunder was ISK 999,999,904. The aforementioned maximum purchase price has therefore been reached in this round.
From the beginning of the share repurchase in February 2023 the Bank has purchased a total of 87,229,363 own shares, or 4.36% of issued shares. As announced in parallel to Íslandsbanki's 4Q23/2023 Full Year results on 8 February 2024 the Bank has planned for additional distribution of excess capital in the amount of ISK 10 billion. At the end of this round of repurchase of own shares the Bank has already purchased its own shares amounting to approximately ISK 4bn of that amount. The Bank has announced its plan to optimise its capital structure before year-end 2025, subject to market conditions.
The share repurchase programme was carried out in accordance with the applicable law, including the Act on limited liability companies No. 2/1995, Regulation No. 596/2014 of the European Parliament and of the Council on market abuse, Commission delegated regulation (EU) 2016/1052 of 8 March 2016, the Act on Measures Against Market Abuse No. 60/2021 and regulation 320/2022 on the same subject. The approval of the Financial Supervisory Authority of the Central Bank of Iceland for the Bank's repurchase of own shares has been obtained.
This announcement is released by Íslandsbanki hf. and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the share repurchase programme described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Ellert Hlöðversson, CFO of Íslandsbanki hf.