The Annual General Meeting of Festi held
The Board of Directors of Festi has on the basis of the mandate issued by the Annual General Meeting adopted a decision on the execution of a buy-back program. The aim is to buy back own shares for the maximum amount of 3,500,000 shares or 1.08% of issued shares, the total amount of the buy-back however not exceeding 750,000,000 ISK in total purchase price.
The buy-back will be executed in stages, with the maximum amount of shares set at 250,000 shares equivalent to 18% of the average daily trade in the company‘s shares on Nasdaq OMX Iceland in
The buy-back program will start on Monday
The buy-back program will be executed in accordance with the Company Act No 2/1995 and the annex to the Regulation on insider information and market abuse No 630/1995. Notices on trading in own shares will be published no later than at the end of the seventh trading day following the purchase of shares.
For further information contact Magnús Kr. Ingason, CFO of Festi hf. (mki@festi.is).
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