Skeljungur hf.: Transactions in relation to a share buy-back program

In week 44. 2020, Skeljungur purchased 2.500.000 of its own shares, at purchase price of ISK 19,825,000. See further details below:

The trade is in accordance with Skeljungur’s share buy-back program, announced to Nasdaq Iceland on October 8th, 2020. The main purpose of the program is to reduce the issued share capital of the company.

Skeljungur has now purchased a total of 19,000,000 own shares which corresponds to 60.55% of maximum amount of own shares that will be purchased according to the buy-back program. The purchase price for the bought shares is total ISK 151,382,500. Before the share buy-back program began Skeljungur owned 24,820,946 of own shares or the equivalent of 1,25% of the issued share capital.

Skeljungur now owns a total of 43,820,946 shares or 2.21 % of the Company’s share capital.

According to the buy-back program the maximum purchase price may not exceed ISK 250.000.000, provided that Skeljungur and its subsidiaries shall only hold a maximum of 10% of the company´s shares. The share buy-back program will remain in effect until the Annual General Meeting in 2021, unless the conditions for maximum purchase are met before that time. The execution of the share buy-back program is in accordance with the Public Limited Company Act No. 2/1995 and Regulation on Insider Information and Market Manipulation No. 630/2005.

For further information please contact Ólafur Þór Jóhannesson, CFO, fjarfestar@skeljungur.is

www.skeljungur.is

https://www.linkedin.com/company/skeljungur-hf/