Eimskipafélag Íslands hf. announces an Equity Buyback.
On October 10, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to 2,150,000 shares, representing 1.28% of its issued share capital for ISK 1,000 million. The maximum price which may be paid for an ordinary share shall not be higher than the price of the last independent trade or the highest independent bid in Nasdaq Iceland at the time of the transaction. The company entered into an agreement with Arion bank hf. to repurchase its own shares. The repurchases will commence on October 11, 2023, and the program will expire on September 9, 2024. As of October 10, 2023, the company had 1,725,320 treasury shares.