Arion Bank: Transactions in relation to a share buyback programme
May 21, 2024 at 05:57 am
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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 20 2024 Arion Bank purchased own shares on Nasdaq Iceland and Swedish Depository Receipts (SDR) on Nasdaq Stockholm. See further details below.
Share buyback on Nasdaq Iceland:
Date
Time (GMT)
Number of shares
Share price
Purchase price (ISK)
Total own shares
13.5.2024
10:08:28
200,000
134.00
26,800,000
25,188,369
14.5.2024
11:47:47
400,000
136.50
54,600,000
25,588,369
15.5.2024
10:47:48
300,000
137.50
41,250,000
25,888,369
15.5.2024
13:44:27
300,000
138.00
41,400,000
26,188,369
16.5.2024
09:44:05
300,000
140.00
42,000,000
26,488,369
16.5.2024
11:29:32
200,000
138.50
27,700,000
26,688,369
16.5.2024
15:17:24
300,000
137.75
41,325,000
26,988,369
17.5.2024
14:43:59
4,364
137.50
600,050
26,992,733
2,004,364
275,675,050
26,992,733
SDRs purchased on Nasdaq Stockholm:
Date
Time (GMT)
Number of SDRs
Share price
Purchase price (SEK)
Total own SDRs
13.5.2024
08:39:34
1,538
10.75
16,534
2,921,733
13.5.2024
08:39:34
1,000
10.75
10,750
2,922,733
13.5.2024
08:39:34
54
10.75
581
2,922,787
13.5.2024
08:40:12
2,408
10.75
25,886
2,925,195
13.5.2024
14:21:29
41
10.75
441
2,925,236
13.5.2024
14:21:29
652
10.75
7,009
2,925,888
13.5.2024
14:21:29
130
10.75
1,398
2,926,018
13.5.2024
14:21:29
188
10.75
2,021
2,926,206
13.5.2024
14:21:29
402
10.75
4,322
2,926,608
13.5.2024
14:21:33
1,766
10.75
18,985
2,928,374
13.5.2024
14:29:56
1,821
10.75
19,576
2,930,195
14.5.2024
09:00:30
764
10.80
8,251
2,930,959
14.5.2024
09:21:09
3,488
10.80
37,670
2,934,447
14.5.2024
10:01:54
20
10.80
216
2,934,467
14.5.2024
10:18:44
1,112
10.80
12,010
2,935,579
14.5.2024
10:57:58
500
10.80
5,400
2,936,079
14.5.2024
10:58:27
23
10.80
248
2,936,102
14.5.2024
13:10:37
364
10.80
3,931
2,936,466
14.5.2024
13:42:08
3,729
10.80
40,273
2,940,195
15.5.2024
10:05:18
55
10.75
591
2,940,250
15.5.2024
10:05:18
25
10.75
269
2,940,275
15.5.2024
10:05:18
208
10.75
2,236
2,940,483
15.5.2024
10:11:10
100
10.75
1,075
2,940,583
15.5.2024
10:32:30
55
10.85
597
2,940,638
15.5.2024
10:32:30
1,454
10.85
15,776
2,942,092
15.5.2024
10:32:30
200
10.85
2,170
2,942,292
15.5.2024
10:32:30
2,903
10.85
31,498
2,945,195
15.5.2024
12:11:08
363
10.75
3,902
2,945,558
15.5.2024
12:11:08
1,622
10.75
17,437
2,947,180
15.5.2024
12:25:36
200
10.75
2,150
2,947,380
15.5.2024
13:18:12
315
10.75
3,386
2,947,695
15.5.2024
13:45:39
672
10.75
7,224
2,948,367
15.5.2024
13:56:21
89
10.75
957
2,948,456
15.5.2024
14:22:38
1,739
10.75
18,694
2,950,195
16.5.2024
09:34:22
113
10.75
1,215
2,950,308
16.5.2024
09:46:50
4,000
10.75
43,000
2,954,308
16.5.2024
11:22:48
887
10.90
9,668
2,955,195
16.5.2024
13:24:34
3,330
10.90
36,297
2,958,525
16.5.2024
13:24:34
56
10.90
610
2,958,581
16.5.2024
13:24:34
99
10.90
1,079
2,958,680
16.5.2024
13:24:40
1,500
10.90
16,350
2,960,180
16.5.2024
14:19:36
15
10.90
164
2,960,195
17.5.2024
09:18:29
1,929
10.85
20,930
2,962,124
17.5.2024
09:40:19
3,000
10.75
32,250
2,965,124
17.5.2024
13:36:03
141
10.70
1,509
2,965,265
17.5.2024
14:15:22
150
10.70
1,605
2,965,415
17.5.2024
14:29:59
64
10.70
685
2,965,479
17.5.2024
14:29:59
1,645
10.70
17,602
2,967,124
46,929
506,424
2,967,124
The Bank held 27,908,564 of own shares and SDRs prior to the transactions in week 20 and holds 29,959,857 shares and SDRs by the end of week 20. The Bank currently holds 2.050% of issued shares in the Bank, Since the launch of the share buyback programme the Bank has bought in total 19,428,542 shares and 241,238 SDRs.
The repurchase under the Program will be divided between the Icelandic and Swedish markets, where up to 365,000 SDRs may be repurchased in Sweden, corresponding to 0.025% of the current issued capital, and where up to 36,135,000 shares may 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 shall 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 will end no later than 31 December 2024, The Bank retains the right to discontinue the Program at any time.
The Program is 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 will all be 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.