Arion Bank: Transactions in relation to a share buyback programme. The buyback programme is now concluded

2023-03-15 19:23:00

Reference is made to a press release from Arion Bank, published 9 February 2023 regarding the launch of a share buyback program. In week 11 2023 Arion Bank purchased its own Swedish Depository Receipts (SDR) on Nasdaq Stockholm. The purchase of shares and SDR under the programme is now concluded. See further details below.

SDRs purchased on Nasdaq Stockholm:

DateTime (GMT)Number of SDRShare pricePurchase priceTotal own SDR
  33,724 370,5362,706,305

The Bank held 56,175,011 of own shares and SDRs prior to the transactions in week 11 and holds 56,208,735 shares and SDRs by the end of today. The Bank currently holds 3.72% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 7,925,000 shares and 619,000 SDRs.

The repurchase under the Program was divided between the Icelandic and Swedish markets, where up to 640,000 SDRs could be repurchased in Sweden, corresponding to 0.04% of the current issued capital, and where up to 7,925,000 shares could be repurchased in Iceland, corresponding to 0.52% of the current issued capital (total 0.56% of the current issued capital). The total consideration for purchased SDRs should furthermore not exceed ISK 100,000,000 in Sweden and ISK 1,500,000,000 for purchased shares in Iceland (ISK 1,600,000,000 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 will all be publicly disclosed in accordance with applicable law and regulation in Iceland and Sweden respectively.