Arion Bank: Transactions in relation to a share buyback programme
June 03, 2024 at 06:21 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 22 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
27.5.2024
10:30:30
150,000
136.00
20,400,000
29,144,333
27.5.2024
10:52:44
400,000
136.00
54,400,000
29,544,333
27.5.2024
15:04:35
270,000
134.00
36,180,000
29,814,333
28.5.2024
10:49:50
250,000
134.50
33,625,000
30,064,333
28.5.2024
11:03:40
100,000
134.00
13,400,000
30,164,333
28.5.2024
15:02:09
400,000
133.00
53,200,000
30,564,333
29.5.2024
11:27:14
100,000
131.75
13,175,000
30,664,333
29.5.2024
11:27:42
500,000
131.50
65,750,000
31,164,333
31.5.2024
09:34:25
150,000
131.50
19,725,000
31,314,333
31.5.2024
10:26:21
150,000
131.50
19,725,000
31,464,333
31.5.2024
14:49:52
70,000
131.00
9,170,000
31,534,333
2,540,000
338,750,000
31,534,333
SDRs purchased on Nasdaq Stockholm:
Date
Time (GMT)
Number of SDRs
Share price
Purchase price (SEK)
Total own SDRs
27.5.2024
11:36:18
242
10.60
2,565
3,001,666
27.5.2024
12:39:51
3,758
10.65
40,023
3,005,424
27.5.2024
12:42:06
343
10.65
3,653
3,005,767
27.5.2024
12:42:06
3,456
10.65
36,806
3,009,223
27.5.2024
12:42:06
201
10.65
2,141
3,009,424
28.5.2024
09:44:30
6,500
10.65
69,225
3,015,924
29.5.2024
10:29:43
1,915
10.45
20,012
3,017,839
29.5.2024
10:29:43
52
10.45
543
3,017,891
29.5.2024
11:12:00
268
10.45
2,801
3,018,159
29.5.2024
12:34:50
200
10.50
2,100
3,018,359
29.5.2024
12:34:50
68
10.50
714
3,018,427
29.5.2024
12:34:50
1,733
10.50
18,197
3,020,160
29.5.2024
13:05:56
114
10.50
1,197
3,020,274
29.5.2024
13:25:54
650
10.50
6,825
3,020,924
29.5.2024
14:20:48
2,000
10.50
21,000
3,022,924
30.5.2024
09:27:51
3,183
10.50
33,422
3,026,107
30.5.2024
09:27:51
817
10.50
8,579
3,026,924
30.5.2024
14:05:22
2,250
10.25
23,063
3,029,174
30.5.2024
14:05:22
1,000
10.25
10,250
3,030,174
31.5.2024
09:24:26
2,956
10.25
30,299
3,033,130
31.5.2024
09:24:26
56
10.25
574
3,033,186
31.5.2024
09:24:26
119
10.25
1,220
3,033,305
31.5.2024
10:03:08
869
10.35
8,994
3,034,174
31.5.2024
13:25:28
3,000
10.35
31,050
3,037,174
35,750
375,251
3,037,174
The Bank held 31,995,757 of own shares and SDRs prior to the transactions in week 22 and holds 34,571,507 shares and SDRs by the end of week 22. The Bank currently holds 2.366% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 23,970,142 shares and 311,288 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.