World News: 16:19 GMT Tuesday 3rd December 2019. [Arion Bank hf. via Globe Newswire via SPi World News]
In the previous announcement on buyback transactions in week 47 the information for Friday 22 November was missing. At the end of week 47 the bank held in total 15,542,538 shares and SDRs. The transactions for that day were as follows:
In week 48 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:
The Bank held 15,542,538 of own shares and SDRs prior to the transactions in week 48 and holds 20,995,813 shares and SDRs by the end of the same week. The Bank currently holds 1.16% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 16,792,000 shares and 3,903,914 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 20,650,000 SDRs in Sweden, corresponding to 1.14% of the current issued capital, and up to 38,350,000 shares in Iceland, corresponding to 2.11% of the current issued capital. The total consideration for purchased SDRs shall not exceed ISK 1,575,000,000 in Sweden and ISK 2,925,000,000 for purchased shares in Iceland (ISK 4.5 billion total). The Programmes 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 Programmes at any time.
The Programmes 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.
Globe Newswire: 16:19 GMT Tuesday 3rd December 2019
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