In week 11 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:
| Week | Date | Time | Number of shares | Share price | Purchase price (ISK) |
| 11 | 09.03.2020 | 09:30 | 200,000 | 74.00 | 14,800,000 |
| 11 | 09.03.2020 | 09:31 | 300,000 | 73.90 | 22,170,000 |
| 11 | 09.03.2020 | 09:36 | 300,000 | 73.25 | 21,975,000 |
| 11 | 09.03.2020 | 09:43 | 200,000 | 73.10 | 14,620,000 |
| 11 | 09.03.2020 | 12:05 | 200,000 | 72.50 | 14,500,000 |
| 11 | 09.03.2020 | 13:08 | 63,404 | 72.00 | 4,565,088 |
| 11 | 09.03.2020 | 13:44 | 136,596 | 72.00 | 9,834,912 |
| 11 | 09.03.2020 | 13:50 | 8,200 | 71.80 | 588,760 |
| 11 | 09.03.2020 | 13:52 | 141,800 | 71.80 | 10,181,240 |
| 11 | 10.03.2020 | 10:21 | 200,000 | 74.00 | 14,800,000 |
| 11 | 10.03.2020 | 11:35 | 500,000 | 74.50 | 37,250,000 |
| 11 | 10.03.2020 | 11:42 | 300,000 | 74.00 | 22,200,000 |
| 11 | 10.03.2020 | 11:49 | 200,000 | 73.70 | 14,740,000 |
| 11 | 10.03.2020 | 11:51 | 250,000 | 73.50 | 18,375,000 |
| 11 | 10.03.2020 | 15:24 | 190,000 | 73.00 | 13,870,000 |
| 11 | 11.03.2020 | 09:37 | 500,000 | 75.50 | 37,750,000 |
| 11 | 11.03.2020 | 09:50 | 200,000 | 74.50 | 14,900,000 |
| 11 | 11.03.2020 | 09:53 | 300,000 | 74.00 | 22,200,000 |
| 11 | 11.03.2020 | 12:44 | 300,000 | 75.20 | 22,560,000 |
| 11 | 11.03.2020 | 13:00 | 200,000 | 75.00 | 15,000,000 |
| 11 | 11.03.2020 | 13:39 | 200,000 | 74.50 | 14,900,000 |
| 11 | 12.03.2020 | 10:23 | 400,000 | 66.00 | 26,400,000 |
| 11 | 12.03.2020 | 11:32 | 100,000 | 65.80 | 6,580,000 |
| 11 | 12.03.2020 | 11:33 | 100,000 | 65.80 | 6,580,000 |
| 11 | 12.03.2020 | 14:55 | 200,000 | 65.40 | 13,080,000 |
| 11 | 13.03.2020 | 09:31 | 200,000 | 64.00 | 12,800,000 |
| 11 | 13.03.2020 | 09:31 | 200,000 | 63.90 | 12,780,000 |
| 11 | 13.03.2020 | 09:32 | 75,775 | 63.50 | 4,811,713 |
| 11 | 13.03.2020 | 09:33 | 124,225 | 63.50 | 7,888,288 |
| 11 | 13.03.2020 | 09:40 | 16,775 | 63.20 | 1,060,180 |
| 11 | 13.03.2020 | 11:36 | 5,000 | 63.80 | 319,000 |
| 11 | 13.03.2020 | 14:48 | 200,000 | 64.30 | 12,860,000 |
| Week 11 Total | 6,511,775 | 466,939,180 |
Buyback of SDR’s on Nasdaq Stockholm
| Week | Date | Time | Number of SDR's | Price per SDR | Purchase price (SEK) |
| 11 | 02.03.2020 | 39,599 | 6.01 | 238,152 | |
| 11 | 03.03.2020 | 42,144 | 6.00 | 252,822 | |
| 11 | 04.03.2020 | 46,507 | 5.98 | 278,103 | |
| 11 | 05.03.2020 | 37,429 | 5.94 | 222,347 | |
| 11 | 06.03.2020 | 140,667 | 5.78 | 813,435 | |
| Week 11 Total | 306,346 | 1,804,859 |
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 87,199,637 of own shares and SDRs prior to the transactions in week 11 and holds 84,582,427 shares and SDRs by the end of the same week. The Bank currently holds 5.21% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 81,833,309 shares and 12,369,898 SDRs.
In accordance with the buyback programme a maximum of 100,000,000 shares/SDRs in total will be purchased, corresponding to 5.5% of the current issued share capital. It is planned to purchase up to 17,000,000 SDRs in Sweden, corresponding to 0.9% of the current issued shares, and up to 83,000,000 shares in Iceland, corresponding to 4.6% of the current issued shares. The total consideration for purchased SDRs shall not exceed ISK 1,360,000,000 in Sweden and ISK 6,640,000,000 for purchased shares in Iceland (ISK 8.0 billion total). The Programme 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 Programme at any time.
The Programme 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.