Festi hf.: Reduction in share capital

    Festi hf.: Reduction in share capital 

At the shareholder´s meeting of Festi on August 23, 2023, a reduction in the Company's share capital was approved. The reduction amounts to ISK 8,000,000 nominal value, or as many shares. The reduction applies to shares that the Company acquired through the purchase of own shares according to a buy-back programme approved on the Company´s annual general meeting in 2022 in accordance with Article 55 of Act no. 2/1995 on public limited companies.

The share capital reduction has now been registered by the Register of Enterprises. After the reduction, the Company's share capital is ISK 304,500,000, which is divided into as many shares, each with a nominal value of ISK 1 and one vote for each share in the Company. A request has been sent to Nasdaq CSD and the reduction will be carried out on Monday October 16, 2023. The Company´s share capital therefore reduces from ISK 312,500,000 to ISK 304,500,000. After the reduction Festi owns total 1,703,286 own shares.

For further information, please contact Magnús Kr. Ingason, CFO of Festi hf. ([e-mail]).