Actavis Group - Renewed Market Making Agreement with Landsbanki


Actavis Group hf. has renewed an agreement with Landsbanki Íslands hf. (Landsbanki) regarding market making for the issued shares of Actavis Group hf.  The purpose of the agreement is to improve liquidity and to enhance transparent price formation in the company's shares on the OMX Nordic Exchange in Iceland.

As a market maker, Landsbanki is obligated to submit in its proprietary account daily bid and ask orders for Actavis Group hf.'s stock, for a minimum of 300,000 shares, at a price determined by Landsbanki.  The maximum bid/ask spread may not exceed 1% and the deviation from last price paid cannot be greater than 3%.    

New orders shall be placed within 10 minutes in succession to prior orders getting filled.    

Under the agreement, Landsbanki is obligated to provide liquidity for up to ISK 200 million in market value daily.