Síminn hf. – Reduction of share capital

At the general meeting of Síminn hf. on 9 March 2023, two separate proposals from the company's board of directors to reduce the company's share capital were approved. In total, the share capital decreases by ISK 1,625,000,000 in nominal value and the share capital after the change will be ISK 2,775,000,000. The first proposal relates to the reduction of share capital due to own shares. The reduction amounts to ISK 185,000,000 in nominal value that generates from own shares that the company...

Reykjavik, 15/03/2023 (informazione.it - comunicati stampa - telecomunicazioni)

At the general meeting of Síminn hf. on 9 March 2023, two separate proposals from the company's board of directors to reduce the company's share capital were approved. In total, the share capital decreases by ISK 1,625,000,000 in nominal value and the share capital after the change will be ISK 2,775,000,000.

The first proposal relates to the reduction of share capital due to own shares. The reduction amounts to ISK 185,000,000 in nominal value that generates from own shares that the company has acquired through buyback plans. A request has been sent to Nasdaq and the reduction will be carried out on Friday, 17 March 2023. The share capital after the first reduction will in total be ISK 4,215,000,000.

The second proposal relates to the reduction of share capital with cash payment to shareholders. The reduction amounts to ISK 1,440,000,000 in nominal value. The reduction amount that exceeds the nominal value, or ISK 14,260,000,000 will reduce retained earnings. The total payment will therefore be ISK 15,700,000,000 and paid to shareholders proportionally in accordance with their share capital based on registration in the share register at the end of Thursday, 30 March 2023. The last trading day with rights to payment due to the reduction of share capital is therefore Tuesday, 28 March 2023. The share capital after the second reduction will then total ISK 2,775,000,000. All conditions for the disbursement have now been met and its implementation will be as follows:

Below is more information regarding the dates specified in the implementation of the share capital reduction.

Ex-date - 1* - Last trading day

Ex-date*

Record date

Reduction date/Payment date

* Here it is assumed that transactions are with T+2 settlement.

For further information contact Investor relations at fjarfestatengsl@siminn.is.