Arion Bank: Transactions in relation to a share buyback programme
June 10, 2024 at 05:45 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 23 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
4.6.2024
11:10:40
500,000
132.75
66,375,000
32,034,333
4.6.2024
13:09:56
250,000
132.50
33,125,000
32,284,333
5.6.2024
11:43:24
150,000
131.50
19,725,000
32,434,333
5.6.2024
14:35:07
200,000
131.25
26,250,000
32,634,333
5.6.2024
14:59:35
200,000
131.15
26,230,000
32,834,333
6.6.2024
10:53:49
200,000
131.75
26,350,000
33,034,333
6.6.2024
15:13:43
300,000
130.75
39,225,000
33,334,333
7.6.2024
13:18:20
250,000
130.00
32,500,000
33,584,333
7.6.2024
14:09:42
250,000
130.00
32,500,000
33,834,333
7.6.2024
14:59:12
220,000
130.00
28,600,000
34,054,333
2,520,000
330,880,000
34,054,333
SDRs purchased on Nasdaq Stockholm:
Date
Time (GMT)
Number of SDRs
Share price
Purchase price (SEK)
Total own SDRs
3.6.2024
10:02:16
861
10.55
9,084
3,038,035
3.6.2024
10:13:16
3,039
10.55
32,061
3,041,074
3.6.2024
10:56:20
109
10.45
1,139
3,041,183
3.6.2024
12:21:59
71
10.50
746
3,041,254
3.6.2024
12:21:59
439
10.50
4,610
3,041,693
3.6.2024
13:07:51
638
10.50
6,699
3,042,331
3.6.2024
13:25:03
2,743
10.50
28,802
3,045,074
4.6.2024
10:50:31
4,532
10.40
47,133
3,049,606
4.6.2024
10:50:31
468
10.40
4,867
3,050,074
4.6.2024
13:18:28
2,500
10.25
25,625
3,052,574
5.6.2024
08:40:33
228
10.40
2,371
3,052,802
5.6.2024
08:41:13
2,080
10.40
21,632
3,054,882
5.6.2024
08:41:30
692
10.40
7,197
3,055,574
5.6.2024
09:12:24
2,400
10.35
24,840
3,057,974
5.6.2024
09:22:50
4
10.20
41
3,057,978
5.6.2024
09:30:18
1,000
10.20
10,200
3,058,978
5.6.2024
10:16:33
687
10.20
7,007
3,059,665
5.6.2024
11:45:34
309
10.20
3,152
3,059,974
7.6.2024
09:21:11
4,656
10.35
48,190
3,064,630
7.6.2024
09:21:11
1,294
10.35
13,393
3,065,924
7.6.2024
09:21:11
50
10.35
518
3,065,974
7.6.2024
12:18:20
1,000
10.30
10,300
3,066,974
7.6.2024
12:20:36
180
10.30
1,854
3,067,154
7.6.2024
12:20:36
1,000
10.30
10,300
3,068,154
30,980
321,759
3,068,154
The Bank held 34,571,507 of own shares and SDRs prior to the transactions in week 23 and holds 37,122,487 shares and SDRs by the end of week 23. The Bank currently holds 2.54% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 26,490,142 shares and 342,268 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.