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The terms and conditions of the warrants can be seen here.
The subscription price of the warrants is the average of the closing price on 25 and
Investors are asked to note the following:
- The exercise period is from
1 May 2024 up to and including30 May 2024 . - Investors should contact the financial institution which is the custodian of their warrants for information on how to exercise the warrants.
- Notice to the custodian that the investor intends to exercise the warrant is binding and an invoice will be sent to the investor’s online bank account.
- Investors have to pay for the total number of new shares on the due date. The due date is
31 May 2024 . - If the warrants are exercised, settlement will take place at the end of the exercise period.
Arion Bank will issue new shares in the company equivalent to the number of warrants exercised, in accordance with the authorization contained within Annex 2, cf. Article 3.5 of the company’s articles of association. - The new shares will be delivered to investors when the share capital increase has been reported to and registered by the Icelandic Internal Revenue’s register of companies and new shares have been issued by the
Nasdaq Central Securities Depository . With respect to the above, investors should note that several working days will elapse between payment for the new shares and the delivery of those shares.
If the investor decides to exercise their warrants, it is entirely at their own responsibility and risk, i.e. with respect to taxation and public fees relating to the exercising of warrants and subsequent sale of underlying shares. Nothing in this notice should be interpreted as encouragement from
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