Yahoo Finance Marel: Transactions in relation to a share buyback program. End of share buyback program
During the days 27 August – 2 September 2022 Marel hf. purchased 49,899 of its own shares on Euronext Amsterdam at the purchase price of EUR 181,082. See further details in attachment and on Marel’s website: marel.com/buyback
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 18,256,429 own shares prior to the notified transactions or the equivalent of 2.37% of issued shares in the company and held 18,306,328 own shares after the transactions, or the equivalent of 2.37% of issued shares in the company.
The buyback program on Euronext Amsterdam was in effect from 2 June 2022 until and including 2 September 2022 and the program has therefore ended. 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 601,878 own shares under the buyback program on Euronext Amsterdam for a total purchase price of EUR 2,580,598.
Buybacks under both programs could 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 was 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 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.
Investor relations
For further information, please contact Marel Investor Relations via email ir@marel.com or tel. +354 563 8001.
About Marel
Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software, and services to the poultry, meat and fish industries. In line with its 2017- 2026 growth strategy, Marel has gradually expanded its business model into adjacent industries, where most recently the acquisition of Wenger has added a fourth pillar focused on pet food, plant-based protein and aqua feed. Our united team of over 7,500 employees in over 6 continents delivered EUR 1.4 billion in revenues in 2021. Annually, Marel invests around 6% of revenues in innovation. By continuously transforming food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019. For further information, please visit marel.com/ir.
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