Arion Bank: Transactions in relation to a share buyback programme
Prenumeration
Beskrivning
| Land | Island |
|---|---|
| Lista | Large Cap Iceland |
| Sektor | Finans |
| Industri | Bank |
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Reference is made to a press release from Arion Bank, published September 5 2022 regarding the launch of a share buyback program. Further reference is also made to a press releases published by Arion Bank on February 9 2023 regarding new round of share buybacks under a repurchase program in Iceland and continued repurchases in Sweden. In week 6 2023 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 |
| 10.02.2023 | 10:03:47 | 200,000 | 155.50 | 31,100,000 | 49,650,156 |
| 10.02.2023 | 10:11:32 | 200,000 | 155.00 | 31,000,000 | 49,850,156 |
| 10.02.2023 | 14:15:55 | 200,000 | 154.50 | 30,900,000 | 50,050,156 |
| 600,000 | 93,000,000 | 50,050,156 |
SDRs purchased on Nasdaq Stockholm:
| Date | Time (GMT) | Number of SDR | Share price | Purchase price (SEK) | Total own SDR |
| 06.02.2023 | 10:36:51 | 230 | 11.64 | 2,677 | 2,417,361 |
| 06.02.2023 | 10:50:56 | 100 | 11.64 | 1,164 | 2,417,461 |
| 06.02.2023 | 10:55:41 | 171 | 11.64 | 1,990 | 2,417,632 |
| 06.02.2023 | 10:56:38 | 54 | 11.68 | 631 | 2,417,686 |
| 06.02.2023 | 10:56:38 | 4,409 | 11.68 | 51,497 | 2,422,095 |
| 06.02.2023 | 10:56:38 | 36 | 11.68 | 420 | 2,422,131 |
| 06.02.2023 | 11:35:15 | 346 | 11.60 | 4,014 | 2,422,477 |
| 06.02.2023 | 11:37:30 | 786 | 11.60 | 9,118 | 2,423,263 |
| 06.02.2023 | 13:07:50 | 4 | 11.60 | 46 | 2,423,267 |
| 06.02.2023 | 14:33:03 | 25 | 11.60 | 290 | 2,423,292 |
| 07.02.2023 | 10:47:11 | 709 | 11.72 | 8,309 | 2,424,001 |
| 07.02.2023 | 10:57:21 | 2,132 | 11.72 | 24,987 | 2,426,133 |
| 07.02.2023 | 11:16:41 | 771 | 11.72 | 9,036 | 2,426,904 |
| 07.02.2023 | 11:49:32 | 770 | 11.72 | 9,024 | 2,427,674 |
| 07.02.2023 | 12:21:13 | 618 | 11.72 | 7,243 | 2,428,292 |
| 07.02.2023 | 14:28:05 | 761 | 11.72 | 8,919 | 2,429,053 |
| 07.02.2023 | 15:33:03 | 770 | 11.72 | 9,024 | 2,429,823 |
| 07.02.2023 | 15:44:41 | 439 | 11.78 | 5,171 | 2,430,262 |
| 07.02.2023 | 15:44:41 | 141 | 11.78 | 1,661 | 2,430,403 |
| 07.02.2023 | 16:02:41 | 2,000 | 11.78 | 23,560 | 2,432,403 |
| 07.02.2023 | 16:07:42 | 750 | 11.78 | 8,835 | 2,433,153 |
| 07.02.2023 | 16:29:53 | 91 | 11.70 | 1,065 | 2,433,244 |
| 07.02.2023 | 16:29:53 | 48 | 11.70 | 562 | 2,433,292 |
| 08.02.2023 | 14:34:07 | 150 | 11.80 | 1,770 | 2,433,442 |
| 08.02.2023 | 14:34:36 | 21 | 11.80 | 248 | 2,433,463 |
| 08.02.2023 | 14:40:10 | 100 | 11.80 | 1,180 | 2,433,563 |
| 08.02.2023 | 15:32:20 | 135 | 11.84 | 1,598 | 2,433,698 |
| 08.02.2023 | 15:32:20 | 195 | 11.84 | 2,309 | 2,433,893 |
| 08.02.2023 | 15:33:56 | 87 | 11.90 | 1,035 | 2,433,980 |
| 08.02.2023 | 15:33:56 | 52 | 11.90 | 619 | 2,434,032 |
| 08.02.2023 | 15:55:45 | 75 | 11.90 | 893 | 2,434,107 |
| 08.02.2023 | 15:58:40 | 2 | 11.90 | 24 | 2,434,109 |
| 08.02.2023 | 16:06:18 | 4,183 | 11.90 | 49,778 | 2,438,292 |
| 08.02.2023 | 16:21:52 | 5,000 | 11.80 | 59,000 | 2,443,292 |
| 09.02.2023 | 10:57:33 | 1,000 | 11.62 | 11,620 | 2,444,292 |
| 09.02.2023 | 10:57:57 | 70 | 11.62 | 813 | 2,444,362 |
| 09.02.2023 | 11:02:17 | 3,930 | 11.62 | 45,667 | 2,448,292 |
| 09.02.2023 | 12:55:41 | 61 | 11.62 | 709 | 2,448,353 |
| 09.02.2023 | 12:57:49 | 10 | 11.62 | 116 | 2,448,363 |
| 09.02.2023 | 13:40:20 | 150 | 11.62 | 1,743 | 2,448,513 |
| 09.02.2023 | 14:02:21 | 115 | 11.62 | 1,336 | 2,448,628 |
| 10.02.2023 | 10:52:19 | 4,673 | 11.56 | 54,020 | 2,453,301 |
| 10.02.2023 | 11:55:41 | 259 | 11.56 | 2,994 | 2,453,560 |
| 10.02.2023 | 12:13:44 | 68 | 11.56 | 786 | 2,453,628 |
| 36,497 | 427,502 | 2,453,628 |
The Bank held 51,867,287 of own shares and SDRs prior to the transactions in week 6 and holds 52,503,784 shares and SDRs by the end of the same week. The Bank currently holds 3.48% of issued shares in the Bank. Since the launch of the ongoing share buyback programme the Bank has bought in total 600,000 shares and 366,323 SDRs.
Repurchases of Arion Bank shares and SDRs is divided between the Icelandic and Swedish markets where up to 640,000 Arion Bank SDRs may be purchased on Nasdaq Stockholm, corresponding to 0.04% of the Bank’s currently issued share capital and the aggregate repurchase of up to 7,925,000 Arion Bank shares on Nasdaq Iceland corresponding to 0.52% of the Bank’s currently issued capital. The total consideration for purchased SDRs in Sweden under the ongoing repurchase programme shall furthermore not exceed the equivalent of ISK 100,000,000 and the total consideration for purchased shares on Nasdaq Iceland under the repurchase round announced today shall not exceed ISK 1,500,000,000, representing a maximum total consideration for both buyback programmes of ISK 1,600,000,000. The ongoing buyback programmes of Arion Bank shares and SDRs on Nasdaq Iceland and Nasdaq Stockholm will cease no later than 15 March 2023, and earlier if fully completed, with Arion Bank also retaining the right to discontinue either or both of the repurchase programmes at an earlier date.
The repurchase of Arion Bank shares and SDRs is carried out in accordance with applicable law and regulation in Iceland and Sweden, 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 on measures against market manipulation which, inter alia, adopted the Safe Harbour Regulation into Icelandic law. Repurchase transactions in both markets will be publicly disclosed in accordance with applicable law and regulation in Iceland and Sweden, respectively.