Arion Bank: Transactions in relation to a share buyback programme
January 21, 2020 at 10:45 am
Share
In week 3 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:
Week
Date
Time
Number of shares
Share price
Purchase price (ISK)
3
13.01.2020
09:33
500,000
83.4
41,700,000
3
13.01.2020
09:36
500,000
83.4
41,700,000
3
13.01.2020
09:43
170,000
83.35
14,169,500
3
14.01.2020
09:30
1,000,000
83.25
83,250,000
3
14.01.2020
13:00
200,000
82.9
16,580,000
3
15.01.2020
09:32
400,000
82.3
32,920,000
3
15.01.2020
09:33
600,000
82.2
49,320,000
3
15.01.2020
09:35
186,000
82.2
15,289,200
3
16.01.2020
11:10
1,000,000
82
82,000,000
3
17.01.2020
10:53
300,000
83.1
24,930,000
3
17.01.2020
11:12
90,910
83.1
7,554,621
3
17.01.2020
13:47
500,000
83.2
41,600,000
3
17.01.2020
13:48
300,000
83.2
24,960,000
Week 3 Total
5,746,910
475,973,321
Buyback of SDR’s on Nasdaq Stockholm
Week
Date
Time
Number of SDR's
Price per SDR
Purchase price (SEK)
3
13.01.2020
168,886
6.42
1,083,471
3
14.01.2020
154,440
6.37
984,061
3
15.01.2020
150,000
6.30
945,405
3
16.01.2020
114,632
6.30
721,952
3
17.01.2020
27,505
6.38
175,595
Week 3 Total
615,463
3,910,484
The transactions are carried out in accordance with the Bank’s share buyback programme that was announced on both stock exchanges on 31 October 2019 and initiated on the same day.
The Bank held 47,214,966 of own shares and SDRs prior to the transactions in week 3 and holds 53,577,339 shares and SDRs by the end of the same week. The Bank currently holds 2.95% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 43,256,629 shares and 9,990,418 SDRs.
In accordance with the buyback programme a maximum of 59,000,000 shares/SDRs in total will be purchased, corresponding to 3.25% of the current issued share capital. It is planned to purchase up to 11,800,000 SDRs in Sweden, corresponding to 0.65% of the current issued shares, and up to 47,200,000 shares in Iceland, corresponding to 2.6% of the current issued shares. The total consideration for purchased SDRs shall not exceed ISK 900,000,000 in Sweden and ISK 3,600,000,000 for purchased shares in Iceland (ISK 4.5 billion total). The Programme shall end when the aforementioned conditions are met but no later than 17 March 2020. The CEO of Arion Bank is entitled to discontinue the Programme at any time.
The Programme will be carried out in accordance with applicable laws and regulations in Iceland and Sweden, including Regulation No. 596/2014 of the European Parliament and of the Council on market abuse (“MAR”), Icelandic acts on limited liability companies, No. 2/1995 and on securities transactions, No. 108/2007, and Icelandic regulation on insider information and market manipulation, No. 630/2005.
For further information please contact Arion Bank’s Investor Relations at ir@arionbanki.is or Theodor Fridbertsson, Head of Investor Relations, +354 856 6760.
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.