Brief: Arion Banki Launches Share Buy-Back Program

Arion banki hf

06/09/2022 06:29

Sept 6 (Reuters) - Arion banki hf  ARION.IC :
    * SAID ON MONDAY, WILL INITIATE SHARE BUY-BACK PROGRAMS IN
ICELAND
AND SWEDEN OF UP TO TOTAL OF 57,300,000 SHARES OR ISK 10
BILLION, REPRESENTING AROUND 3.8% OF THE BANK'S SHARE CAPITAL
    * PURPOSE OF SHARE BUY-BACK IS TO REDUCE BANK'S SHARE
CAPITAL, IN
LINE WITH BANK'S DIVIDEND POLICY
    * BANK'S MANAGEMENT HAS DECIDED TO LAUNCH 50% OF BUY-BACKS
AUTHORIZED BY FSA AND APPROVED BY BOARD OF DIRECTORS
    * CORRESPONDINGLY, ARION BANK MAY PURCHASE UP TO 28,650,000
SHARES
FOR UP TO ISK 5 BILLION, REPRESENTING AROUND 1.9% OF BANK'S
SHARE CAPITAL 
    * BUY-BACK PROGRAM WILL END NO LATER THAN 15 MARCH 2023

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDLbvSc1r
 Further company coverage:  ARION.IC  

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