Published: 2017-02-28 09:48:03 CET
Icelandair Group hf.
Changes in company's own shares

Transactions in relation to share repurchase program

In Week 8 2017, Icelandair Group hf. (The “Company”) purchased 11,000,000 of its own shares. The total purchase price is ISK 176,654,401, as detailed below:

  

     Own shares at the beginning of period                25,000,000    
     Purchased at nominal value in week 8                11,000,000    
     Total turnover in week 8                176,654,401    
           
           
Date Time     No. of shares bought   Shareprice   Turnover   No. of own shares after the transaction 
21/2/2017 10:16        500,000              16.65            8,325,000                   25,500,000    
21/2/2017 11:00        500,000              16.50            8,250,000                   26,000,000    
22/2/2017 10:02      1,000,000              16.40          16,400,000                   27,000,000    
22/2/2017 10:12        226,000              16.25            3,672,500                   27,226,000    
22/2/2017 10:15        774,000              16.20          12,538,800                   28,000,000    
22/2/2017 14:55      1,000,000              16.40          16,400,000                   29,000,000    
23/2/2017 10:40      1,000,000              16.35          16,350,000                   30,000,000    
23/2/2017 12:04        493,500              16.25            8,019,375                   30,493,500    
23/2/2017 15:11        506,500              16.15            8,179,975                   31,000,000    
23/2/2017 15:13        373,024              16.10            6,005,686                   31,373,024    
23/2/2017 15:13        626,976              16.05          10,062,965                   32,000,000    
23/2/2017 15:16      1,000,000              15.90          15,900,000                   33,000,000    
24/2/2017 09:33      1,000,000              15.60          15,600,000                   34,000,000    
24/2/2017 10:40            2,000              15.50                31,000                   34,002,000    
24/2/2017 11:22        998,000              15.45          15,419,100                   35,000,000    
24/2/2017 13:53      1,000,000              15.50          15,500,000                   36,000,000    

  

Prior to the aforementioned share repurchase, the Company owned 25,000,000 of its own shares but now owns 36,000,000 of its own shares, corresponding to 1.72% of the Company‘s total share capital.

The trade is in accordance with a share repurchase program authorized by the Annual General Meeting on the 10th of March 2016 and has been put in motion according to an announcement published in NASDAQ Iceland on the 20th of February 2017.

Icelandair Group hf. has acquired 11,000,000 of its own shares under the program which corresponds to 0.22% of the total share capital and the total value of repurchased shares amounts to ISK 176,654,401. According to the program, The Company may not purchase more than 114,000,000 of its own shares, corresponding to 2.28% of the total share capital. The total consideration for shares under the program shall not exceed ISK 1,700 million. The share repurchase program is valid until September 8th 2017 or until the total allowed amount of shares are purchased by the Company, whichever happens first.

The share repurchase program is 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, with later amendments.

 

For further information, please contact:

Bogi Nils Bogason, CFO
bogi@icelandairgroup.is
Tel: +354 665 8801