Day: June 20, 2021

The Annual General Meeting of Festi held 22 March 2021 empowered the Board of Directors, pursuant to Article 55 of the Company Act No 2/1995, to purchase in the next 12 months upto 10% of the company‘s shares on its behalf. The purpose of the program is to decrease the number of issued shares. The Board of Directors of Festi has on the basis of the mandate issued by the Annual General Meeting adopted a decision on the execution of a buy-back program. The aim is to buy back own shares for the maximum amount of 2,090,623 shares or 0,65% of issued shares, the total amount of the buy-back however not exceeding 430,000,000 ISK in total purchase price. The buy-back will be executed in stages, with the maximum amount of shares purchased per day are set at 250,000 shares equivalent to 20% of the average daily trade in the company‘s shares on Nasdaq...

The stock market is an immense framework where publicly traded companies trade their outstanding shares at market. Shares are issued and sold at a designated market price which is to be considered the representation of fair value in exchange for monetary value to the investor and intended shareholder. The investor purchases believing the asset will hold greater future value than that being traded and offered in price today. Another factor the investor should be acutely aware of is making sure purchase and sale is based on price and at a time in which reduces the prospect of investing or holding an asset about to experience any period of uncertainty likely to become a reality. Shares are bought and for a period of time held, before typically being later sold back to market with a view to sharing in the capital increase seen in price change....