Arion Bank: Transactions in relation to a share buyback programme. The buyback programme is now concluded
July 12, 2024 at 08:00 am EDT
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Reference is made to a press release from Arion Bank, published 4 April 2024 regarding the launch of a share buyback program and 8 May 2024 regarding the continuation of a share buyback program. In week 28 2024 Arion Bank purchased own shares on Nasdaq Iceland. The purchase of both shares and SDRs under the programme has now concluded. See further details below.
Share buyback on Nasdaq Iceland:
Date
Time (GMT)
Number of shares
Share price
Purchase price (ISK)
Total own shares
8.7.2024
09:54:46
200,000
135.50
27,100,000
41,879,215
8.7.2024
10:51:02
200,000
135.00
27,000,000
42,079,215
8.7.2024
14:45:43
190,000
135.50
25,745,000
42,269,215
9.7.2024
13:53:11
690
133.50
92,115
42,269,905
9.7.2024
14:01:23
1,706
133.50
227,751
42,271,611
9.7.2024
15:01:59
1,762
133.50
235,227
42,273,373
9.7.2024
15:10:37
500,000
133.50
66,750,000
42,773,373
10.7.2024
10:26:49
1,500
133.50
200,250
42,774,873
10.7.2024
11:43:05
260
133.50
34,710
42,775,133
10.7.2024
11:43:19
1,526
133.50
203,721
42,776,659
10.7.2024
11:52:07
250,000
134.50
33,625,000
43,026,659
10.7.2024
13:55:15
20,000
133.50
2,670,000
43,046,659
10.7.2024
14:08:46
20,000
133.50
2,670,000
43,066,659
10.7.2024
14:19:09
200
133.50
26,700
43,066,859
10.7.2024
14:24:49
30,000
133.50
4,005,000
43,096,859
10.7.2024
14:26:28
126,514
133.50
16,889,619
43,223,373
10.7.2024
15:20:31
150,000
133.50
20,025,000
43,373,373
11.7.2024
11:33:13
6,000
132.50
795,000
43,379,373
11.7.2024
14:44:15
147,160
133.00
19,572,280
43,526,533
1,847,318
247,867,373
43,526,533
SDR buybacks on Nasdaq Stockholm have concluded.
The Bank held 44,760,187 of own shares and SDRs prior to the transactions in week 28 and holds 46,607,505 shares and SDRs by the end of week 28. The Bank currently holds 3.19% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 35,962,342 shares and 355,086 SDRs.
Up to 365,000 SDRs could be repurchased in Sweden, corresponding to 0.025% of the current issued capital, and up to 36,135,000 shares could be repurchased in Iceland, corresponding to 2.473% of the current issued capital (total 2.5% of the current issued capital). The total consideration for purchased SDRs could furthermore not exceed ISK 50,000,000 in Sweden and ISK 4,950,000,000 for purchased shares in Iceland (ISK 5,000,000,000 total).
The Program was carried out in accordance with applicable law and regulation in Iceland and Sweden, as the case may be, including Regulation No, 596/2014 of the European Parliament and of the Council on market abuse (“MAR”), the Safe Harbour Regulation, Icelandic acts on limited liability companies, No, 2/1995 and Act No, 60 /2021 on measures against market manipulation and rules no, 320/2022 of measures against market manipulation which, inter alia, adopted the Safe Harbour Regulation into Icelandic law. Transactions under the Program were all publicly disclosed in accordance with applicable law and regulation in Iceland and Sweden respectively.
Arion banki hf (the Bank) is an Iceland-based financial institution that provides individuals, corporations and institutional investors with banking services. The Bank reports six operating segments: Asset Management, which comprises institutional asset management, private banking, investment services and pension fund administration; Corporate Banking that provides a full range of lending products, deposit accounts, payment solutions and value-added electronic corporate solutions; Investment Banking, which includes such services as buying and selling of companies, advice on financial decisions undertaken by companies and investors, as well as buying and selling of securities; Retail Banking that provides such services as deposits and loans, savings, payment cards, pension savings, insurance, securities and funds; Treasury that is responsible for the Bankâs liquidity, currency and interest rate management, and Subsidiaries and other divisions, including Valitor Holding hf, among others.