Mar 05, 2026 (MarketLine via COMTEX) --
EimskipafA(C)lag Aslands hf. has entered an agreement with Arion Bank regarding market making.
Eimskipafélag Íslands hf. has entered into a new agreement with Arion Banki regarding market making. Arion Banki will submit daily buy and sell offers for the company's shares in the trading system of the Exchange. The purpose of the market making is to contribute to increasing the liquidity of the issuer's shares, creating a market price and ensuring that the price formation of the shares is as efficient and transparent as possible.
Arion Bank shall submit bids and offers for a minimum of 30,000 shares in the issuer, at a price determined by Arion Bank. The offers shall be in two parts, so that the price range of bids and offers for 28,500 shares shall be determined with reference to the Exchange's price step table as it is at any time, in such a way that the price range is as close as possible to 1.5% but not lower than 1.45%. The price range of bids and offers for 1,500 shares shall be determined with reference to the Exchange's price step table as it is at any time, in such a way that the price range is not higher than 1.50%. However, Arion Bank shall be authorized to submit bids and offers in both leg A and leg B with a lower price range than described above, for example due to circumstances arising from the Exchange's price step table.
If Arion Bank has, within the same trading day, transactions in the issuer's shares that pass through Arion Bank's trading book (the bank's market watch), which total 240,000 shares in nominal value or more, Arion Bank's aforementioned obligations regarding the maximum spread between bid and ask offers within that day shall lapse. If the price change in the issuer's shares within the trading day exceeds 5%, Arion Bank is authorized to double the aforementioned price spread, and if the price change in the shares exceeds 10%, Arion Bank is authorized to triple it.
The agreement is valid from March 5, 2026 and is indefinite, but the parties may terminate it with 14 days' notice.
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COMTEX_478665713/2227/2026-05-06T20:44:28
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