In week 4 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)
420.01.202009:36  500,000 82.90  41,450,000 
420.01.202014:21  500,000 82.90  41,450,000 
420.01.202014:22  150,000 82.90  12,435,000 
421.01.202010:06  122,000 82.00  10,004,000 
421.01.202010:54  26,346 81.90  2,157,737 
Week 4 Total    1,298,346    107,496,737 

Buyback of SDR’s on Nasdaq Stockholm

WeekDateTimeNumber of SDR'sPrice per SDRPurchase price (SEK)
420.01.2020   90,756 6.35  576,228 
421.01.2020   87,123 6.28  547,272 
422.01.2020   75,900 6.28  476,584 
423.01.2020   82,397 6.23  513,276 
424.01.2020   65,316 5.99  391,393 
Week 4 Total    401,492    2,504,752 


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 53,577,339 of own shares and SDRs prior to the transactions in week 4 and holds 55,290,605 shares and SDRs by the end of the same week. The Bank currently holds 3.05% of issued shares in the Bank. Since the launch of the share buyback programme the Bank has bought in total 44,554,975 shares and 10,391,910 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.