Today techs Discover of the implementation of the brand new buyback program

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At Reita’s basic assembly on March 11, 2022, the corporate’s board of administrators was approved to purchase as much as 10% of its personal shares on behalf of the corporate with a purpose to set up a buying and selling flooring and/or to arrange a proper buyback plan. On the premise of the aforementioned authority, Reita’s board of administrators has determined to today techs implement a brand new repurchase plan for the acquisition of personal shares, and the aim of the plan is to cut back the corporate’s issued share capital.

It’s deliberate to purchase as much as 6.5 million shares, which is equal to 0.85% of the issued share capital, though the quantity of the repurchases won’t ever exceed a complete of ISK 585 million. Implementation of the plan today techs will start on Monday, September 26, and the plan will likely be in impact till both of the aforementioned today techs standards for amount or quantity is reached, however by no means longer than January 31, 2023. Reita’s issued share capital is 763,138,233 shares, amounting to 11 million half or 1.44% of the corporate’s share capital at first of the buyback plan.

The value for every share shall not exceed the best value within the final impartial transaction or the best obtainable impartial buy supply within the buying and selling system of Nasdaq in Iceland, whichever is increased. The utmost quantity of every buying and selling day is a most of 25% of the typical each day turnover of the earlier 20 buying and selling days earlier than the acquisition takes place.

Arctica Finance hf. will today techs execute the repurchase program on behalf of the Firm. Buying and selling of personal shares in accordance with the repurchase program will likely be introduced no later than the tip of the seventh buying and selling day after the transaction takes place.

today techs Data is supplied by Einar Þorsteinsson, CFO, on cellphone 669 4416 or by e-mail at einar@reitir.is.

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