Kaldalón hf.: Implementation of Share Buyback Program

Core Points - Kaldalón hf. has announced the implementation of a share buyback program authorized by shareholders on 2 July 2024 [1][2] - The company is allowed to repurchase up to 10% of its share capital, which amounts to a maximum of ISK 1,119,568,483 or 111,956,848 shares [2] - In 2024, Kaldalón repurchased 33,700,150 shares for ISK 613,868,947, and currently holds no treasury shares following a capital reduction [3] - The new buyback program aims to repurchase up to 15,000,000 shares for a total price not exceeding ISK 350,000,000 [3] - The program will start on 1 July 2025 and will continue until the purchase thresholds are met or by 31 December 2025 [4] - Íslandsbanki hf. will oversee the execution of the buyback program, making independent decisions regarding share repurchases [4] - The purchase price per share will not exceed the higher of the last independent transaction price or the highest current independent purchase offer [5] - Daily purchases will be limited to a maximum of 25% of the average daily trading volume over the preceding 20 trading days [5][6] - All transactions under the buyback program will be publicly disclosed in compliance with applicable laws [6]