(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: