Festi hf. commences an Equity Buyback Plan for 10% of its issued share capital, under the authorization approved on March 22, 2023.

Festi hf. (ICSE:FESTI) commences share repurchases on July 25, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 22, 2023. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The share repurchase price shall not exceed the highest price in the last independent trade or highest existing bid in the trading venues, whichever is higher. The purpose of the share repurchases is to reduce the share capital of the company. The program will be valid till the next Annual General Meeting in 2024.

On July 21, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to 3,500,000 shares for a total of ISK 600 million. The program will expire on December 31, 2023.