Published: 2017-04-18 11:04:20 CEST
Icelandair Group hf.
Changes in company's own shares

Transactions in relation to share repurchase program – week 15

In Week 15 2017, Icelandair Group hf. (The “Company”) purchased 4,000,000 of its own shares. The total purchase price is ISK 53,320,000, as detailed below:   

 

       Own shares at the beginning of period                          111.004.645    
       Purchased at nominal value in week 15                              4.000.000    
       Total turnover in week 15                            53.320.000    
           
           
Date Time  No. of shares bought  Shareprice  Turnover  No. of own shares
after the transaction
10.4.2017 09:40        1.000.000                        13,54            13.540.000                              112.004.645    
11.4.2017 10:49        1.000.000                        13,45            13.450.000                              113.004.645    
11.4.2017 14:54        1.000.000                        13,23            13.230.000                              114.004.645    
12.4.2017 11:07        1.000.000                        13,10            13.100.000                              115.004.645    

 

Prior to the aforementioned share repurchase, the Company owned 111,004,645  of its own shares but now owns 115,004,645 of its own shares, corresponding to 2.30% 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 90,004,645 of its own shares under the program which corresponds to 1.80% of the total share capital and the total value of repurchased shares amounts to ISK 1,307,563,681. 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.