Arion Bank: Transactions in relation to a share buyback programme
April 22, 2024 at 09:30 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. In week 16 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
15.4.2024
09:41:04
200,000
145.00
29,000,000
13,119,743
15.4.2024
10:17:09
29,000
144.00
4,176,000
13,148,743
15.4.2024
12:09:08
200,000
144.75
28,950,000
13,348,743
15.4.2024
15:17:27
9,100
144.00
1,310,400
13,357,843
15.4.2024
15:26:39
200,000
144.75
28,950,000
13,557,843
16.4.2024
12:30:06
600,000
143.00
85,800,000
14,157,843
16.4.2024
13:48:12
400,000
143.00
57,200,000
14,557,843
17.4.2024
10:03:09
200,000
144.75
28,950,000
14,757,843
17.4.2024
13:55:33
400,000
143.75
57,500,000
15,157,843
18.4.2024
14:01:12
500,000
143.75
71,875,000
15,657,843
18.4.2024
14:20:27
500,000
143.75
71,875,000
16,157,843
19.4.2024
09:49:42
350,000
144.50
50,575,000
16,507,843
19.4.2024
11:17:59
300,000
143.75
43,125,000
16,807,843
19.4.2024
12:43:38
180,000
143.75
25,875,000
16,987,843
19.4.2024
14:13:18
150,000
143.50
21,525,000
17,137,843
4,218,100
606,686,400
17,137,843
SDRs purchased on Nasdaq Stockholm:
Date
Time (GMT)
Number of SDRs
Share price
Purchase price (SEK)
Total own SDRs
15.4.2024
12:56:08
4,275
10.95
46,811
2,781,521
15.4.2024
13:11:55
38
10.95
416
2,781,559
15.4.2024
13:17:37
687
10.95
7,523
2,782,246
16.4.2024
12:54:15
6,000
11.00
66,000
2,788,246
16.4.2024
13:58:35
28
10.90
305
2,788,274
16.4.2024
14:05:20
200
11.00
2,200
2,788,474
16.4.2024
14:05:20
333
11.00
3,663
2,788,807
16.4.2024
14:05:20
900
11.00
9,900
2,789,707
16.4.2024
14:05:20
1,039
11.00
11,429
2,790,746
17.4.2024
12:50:03
5,000
11.00
55,000
2,795,746
17.4.2024
15:14:22
2,600
11.00
28,600
2,798,346
18.4.2024
12:22:09
756
10.90
8,240
2,799,102
18.4.2024
14:06:56
900
11.00
9,900
2,800,002
18.4.2024
14:06:56
68
11.00
748
2,800,070
18.4.2024
14:06:56
40
11.00
440
2,800,110
18.4.2024
14:39:19
7,000
11.00
77,000
2,807,110
19.4.2024
09:38:50
5,000
10.95
54,750
2,812,110
19.4.2024
12:27:25
172
10.90
1,875
2,812,282
19.4.2024
12:27:25
2,328
10.90
25,375
2,814,610
19.4.2024
13:40:19
422
10.90
4,600
2,815,032
19.4.2024
14:08:15
828
11.20
9,274
2,815,860
38,614
424,049
2,815,860
The Bank held 15,696,989 of own shares and SDRs prior to the transactions in week 16 and holds 19,953,703 own shares and SDRs by the end of week 16. The Bank currently holds 1.366% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 9,573,652 shares and 89,974 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 17,885,000 shares may repurchased in Iceland, corresponding to 1.224% of the current issued capital (total 1.25% of the current issued capital). The total consideration for purchased SDRs shall furthermore not exceed ISK 50,000,000 in Sweden and ISK 2,450,000,000 for purchased shares in Iceland (ISK 2,500,000,000 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.