Published: 2017-04-04 11:28:19 CEST
Icelandair Group hf.
Changes in company's own shares

Transactions in relation to share repurchase program – week 13

In Week 13 2017, Icelandair Group hf. (The “Company”) purchased 4,185,983 of its own shares. The total purchase price is ISK 59,490,837, as detailed below:   

  

     Own shares at the beginning of period                   95,135,361    
     Purchased at nominal value in week 13                     4,185,983    
     Total turnover in week 13                     59,490,837    
           
           
Date Time  No. of shares bought  Shareprice  Turnover  No. of own shares
after the transaction
27/3/2017 13:30        181,270                  14.50            2,628,415                       95,316,631    
28/3/2017 13:26            4,713                  14.49                68,291                       95,321,344    
30/3/2017 09:44      1,000,000                  14.34          14,340,000                       96,321,344    
30/3/2017 09:56      1,000,000                  14.15          14,150,000                       97,321,344    
30/3/2017 11:06      1,000,000                  14.20          14,200,000                       98,321,344    
31/3/2017 13:09          82,605                  14.15            1,168,861                       98,403,949    
31/3/2017 14:34        917,395                  14.10          12,935,270                       99,321,344    

   

Prior to the aforementioned share repurchase, the Company owned 95,135,361  of its own shares but now owns 99,321,344 of its own shares, corresponding to 1.99% 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 74,321,344 of its own shares under the program which corresponds to 1.49% of the total share capital and the total value of repurchased shares amounts to ISK 1,094,443,522. 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.