Icelandic food processing company Marel announces share transactions as part of its share buyback program

Icelandic food processing company Marel announces share transactions as part of its share buyback program

(PRESS RELEASE) GARDABAER, Iceland, 29-Aug-2022 — /EuropaWire/ — Marel (ICE: MAREL), an Iceland based multinational food processing company, has announced that the company  purchased 45,650 of its own shares on Euronext Amsterdam at a price of EUR 178,218 between 20 – 26 August 2022.

The trade is in accordance with Marel’s buyback program on Euronext Amsterdam, announced on 1 June 2022, which is based on the authorization of Marel hf.´s Annual General Meeting regarding the purchase of own shares on 16 March 2022.

Marel hf. held 18,210,779 own shares prior to the notified transactions or the equivalent of 2.36% of issued shares in the company and held 18,256,429 own shares after the transactions, or the equivalent of 2.37% of issued shares in the company.

Marel hf. has purchased a total of 4,000,000 own shares under the buyback program on Nasdaq Iceland, which has now been discontinued, for a total purchase price of ISK 2,393,302,556 and a total of 551,979 own shares under the buyback program on Euronext Amsterdam for a total purchase price of EUR 2,399,517.

Buybacks under both programs will amount to a total maximum of 5,000,000 shares, thereof 4,000,000 on Nasdaq Iceland and 1,000,000 on Euronext Amsterdam, or the equivalent of total 0.65% of issued shares. The maximum total purchase price of the program on Euronext Amsterdam is up to EUR 5,590,000. The buyback program on Nasdaq Iceland was in effect from 1 June 2022 and was discontinued after 1 July 2022, when the maximum number of shares to be purchased was reached. The buyback program on Euronext Amsterdam is in effect from 2 June 2022 until and including 2 September 2022.

The buyback program is executed in accordance with Chapter VIII. of the Icelandic Act No. 2/1995 on Public Limited Companies, Regulation No. 596/2014 of the European Parliament and of the Council on market abuse (“MAR”), and the Commission’s delegated regulation 2016/1052 cf. also Icelandic Act No. 6/2021 on measures against Market Abuse.

See further details in attachment and on Marel’s website:

Share buyback programs

SOURCE: Marel