Arion Bank hf.: Results of buybacks of own shares through reverse auction
Arion Bank hf. (the "Bank") decided to accept offers for 25,994,038 shares and SDRs at the price of ISK 137.0 per share/SDRs during the repurchase of own shares announced on Wednesday, 28 August 2024 (the "Repurchase"). The settlement date of accepted offers in the Repurchase is Monday, 2 September 2024.
The Repurchase is carried out in accordance with the applicable law, including the Act on Limited Liability Companies No. 2/1995 and Regulation No. 596/2014 of the European Parliament and the Council on market abuse (MAR), cf. Act on Measures Against Market Abuse No. 60/2021, implementing MAR into Icelandic legislation.
Following the Repurchase, the Bank owns 86,721,821 own shares/SDRs, equivalent to 5.730% of the Bank's issued share capital. Included in the total number of own shares/SDRs are 2,950,118 shares/SDRs purchased during the period between 26 August 2024 and 28 August 2024 under the share repurchase programme announced on 25 July 2024.