Eimskip: Share Buy-Back Program Initiated

(MENAFN- GlobeNewsWire - Nasdaq) At the Annual General Meeting of Eimskip on 27 March 2025, the shareholders approved to authorize the Board of Directors to buy up to 10% of issued shares in the company.

The authorization is valid for a term of 18 months from the Annual General Meeting.

The Board of Directors of Eimskip decided today to initiate a new share buy-back program, in accordance with the approval, with the main purpose of reducing the company's share capital and/or to fulfil the Company's obligations in accordance with the stock option plan of the company.

The number of shares to be acquired under the buy-back program will be up to 2,250,000, at a total purchase price which may not exceed ISK 750,000,000.

The purchase price for the shares shall not be higher than the price of the last independent trade or the highest independent bid in Nasdaq Iceland at the time of the transaction.

The buy-back program will be managed by ACRO verðbréf hf., which will execute the purchases and determine the timing of transactions independently of the company. The buy-back will be conducted through a reverse tender offer, using the Dutch auction method, where all accepted offers will be settled at the highest price accepted. All shareholders of Eimskip may submit offers to sell their shares through ACRO verðbréf hf. Eimskip reserves the right to accept or reject any offer in whole or in part.

The execution of the buy-back program must comply with the Act on Public Limited Companies, No. 2/1995. In addition, the buy-back program will be implemented in accordance with Regulation (EU) No. 596/2014 on market abuse, as well as Commission Delegated Regulation (EU) 2016/1052 with regard to regulatory technical standards for the conditions applicable to buy-back programmes, and the Icelandic Act on Measures Against Market Abuse No. 60/2021.

Offers must be submitted to ACRO verðbréf hf. at ... , marked“Eimskip buyback,” by 08:30 on Tuesday, 30 September 2025. Results will be announced via the Nasdaq Iceland news system by 09:30 the same day. Settlement of accepted offers will take place on Thursday, 2 October 2025.

Eimskip's treasury shares before the commencement of the buy-back program under this tender offer are 1.725.320 shares.

FURTHER INFORMATION
Rósa Guðmundsdóttir, CFO, tel: 844 4776, email: ...
Guðbjörg Birna Björnsdóttir, Head of Treasury & Investor Relations, tel: 844 4752, email: ...

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