Published: 2019-12-03 17:19:48 CET
Arion Bank hf.
Changes in company's own shares

Arion Bank: Transactions in relation to a share buyback programme

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:

WeekDateTimeNumber of SDR'sPrice per SDRPurchase price (SEK)
4722.11.2019   428,045 6.07  2,602,300 

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:

WeekDateTimeNumber of sharesShare pricePurchase price (ISK)
4825.11.201910:06  400,000 78.0  31,200,000 
4825.11.201910:15  450,000 78.0  35,100,000 
4826.11.201909:34  875,000 78.3  68,512,500 
4827.11.201912:28  900,000 79.1  71,190,000 
4828.11.201909:34  600,000 80.3  48,180,000 
4828.11.201909:35  300,000 80.3  24,090,000 
4829.11.201909:35  400,000 80.4  32,160,000 
4829.11.201909:42  500,000 80.4  40,200,000 
Week 48 Total    4,425,000    350,632,500 


Buyback of SDR’s on Nasdaq Stockholm

WeekDateTimeNumber of SDR'sPrice per SDRPurchase price (SEK)
4825.11.2019   11,833 6.07  71,770 
4826.11.2019   246,375 6.12  1,507,027 
4827.11.2019   56,375 6.16  347,259 
4828.11.2019   375,413 6.26  2,349,860 
4829.11.2019   38,379 6.30  241,657 
Week 48 Total    728,375    4,517,573.0 


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 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.

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