At the annual general meeting of Festi on March 6, 2024, a reduction in the Company's share capital was approved. The reduction amounts to ISK 3,000,000 nominal value, or as many shares. The reduction applies to shares that the Company acquired through the purchase of own shares according to a buy-back programme approved on the Company´s annual general meeting in 2023 in accordance with Article 55 of Act no. 2/1995 on public limited companies.

The share capital reduction has now been registered by the Register of Enterprises. After the reduction, the Company's share capital is ISK 301,500,000 which is divided into as many shares, each with a nominal value of ISK 1 and one vote for each share in the Company. A request has been sent to Nasdaq Iceland and the reduction will be carried out on Monday March 18, 2024. The Company's share capital therefore reduces from ISK 304,500,000 to ISK 301,500,000. After the reduction Festi owns total 246,226 own shares.

For further information, please contact Magnús Kr. Ingason, CFO/COO of Festi hf. (mki@festi.is).