Day: March 15, 2020

Buy-back of shares in Festi amounted to 2.157.876 shares in week 11 2020:This announcement of purchase of own shares is in accordance with Festi‘s buy-back programme announced by notice to Nasdaq OMX Iceland on 2 March 2020.  Prior to the transactions Festi held 3,157,876 of own shares or 0,96% and holds 4,315,752 shares or 1,31% of own shares after the transactions. The maximum of the buy-back is 5,000,000 shares or 1,5% of issued shares. The buy-back programme is in force until 23 March 2020 which is the date for the Annual General Meeting of the company.The buy-back programme is carried out in accordance with Chapter VIII of the Act on limited liability companies No. 2/1995 and Annex II to the Regulation on insider information and market abuse No. 630/2005.For further information contact Eggert Þór Kristófersson, CEO of Festi hf.,...

Company announcement no 2020-05                              15 March 2020Coronavirus expected to have substantial, short-term negative impact on hearing healthcare marketMaintain expectation to generate organic sales growth significantly above market growth rate in 2020Outlook for 2020 withdrawn due to uncertainty of impact of current outbreak of coronavirus diseaseAs a result of the current global outbreak of coronavirus, we expect to see a substantial, short-term negative impact on demand in the hearing healthcare market. This is a consequence of the recent increase in the spread of coronavirus in several large markets where people – particularly the elderly population – are advised and choose to stay at home to limit the spread of coronavirus. We believe the negative impact will be temporary and lead to pent-up demand, which will materialise...

Selskabsmeddelelse nr. 2020-05                                             15. marts 2020Coronavirus forventes at få betydelig, kortsigtet negativ effekt på høresundhedsmarkedetFastholder forventning om organisk salgsvækst betydeligt over markedsvækstraten i 2020Forventninger til 2020 trækkes tilbage pga. usikkerhed om effekten af det aktuelle coronavirus-udbrudPå grund af det aktuelle globale udbrud af coronavirus forventer vi at se en betydelig, kortsigtet negativ effekt på efterspørgslen på høresundhedsmarkedet. Dette er en konsekvens af den seneste stigning i spredningen af coronavirus på adskillige store markeder, hvor folk – især den ældre del af befolkningen – rådes til og vælger at blive hjemme for at begrænse spredningen af coronavirus. Vi mener, at den negative effekt vil være midlertidig og medføre en ophobning i efterspørgslen,...