In week 49 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:

WeekDateTimeNumber of sharesShare pricePurchase price (ISK)
4902.12.201909:30  900,000 80  72,000,000 
4903.12.201909:30  925,000 79.45  73,491,250 
4904.12.201909:30  820,000 79  64,780,000 
4905.12.201909:46  830,000 78.6  65,238,000 
4906.12.201909:45  500,000 78.3  39,150,000 
4906.12.201909:50  365,000 78.3  28,579,500 
Week 49 Total    4,340,000    343,238,750 

Buyback of SDR’s on Nasdaq Stockholm

WeekDateTimeNumber of SDR'sPrice per SDRPurchase price (SEK)
4902.12.2019   432,642 6.29  2,723,352 
4903.12.2019   386,374 6.22  2,404,289 
4904.12.2019   376,997 6.20  2,335,987 
4905.12.2019   400,375 6.14  2,458,503 
4906.12.2019   372,230 6.16  2,292,341 
Week 49 Total    1,968,618    12,214,471.5 

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 20,995,813 of own shares and SDRs prior to the transactions in week 49 and holds 27,304,431 shares and SDRs by the end of the same week. The Bank currently holds 1.51% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 21,132,000 shares and 5,872,532 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.

For further information please contact Arion Bank’s Investor Relations at ir@arionbanki.is or Theodor Fridbertsson, Head of Investor Relations, +354 856 6760.