New market-making agreements with Landsbankinn hf. and Íslandsbanki hf.
Marel hf. and Landsbankinn hf. have entered into a new market-making agreement for the company's issued shares, replacing the previous agreement from 12 March 2012.
Marel hf. and Íslandsbanki hf. have also entered into a market-making agreement for the company's issued shares.
The purpose of market-making is to facilitate trading in the company's shares on the Nasdaq Iceland Exchange (the Exchange).
Landsbankinn hf. and Íslandsbanki hf. are committed to making daily bid and ask offers, as market makers, on the Exchange for shares in Marel hf., each of them for a minimum of ISK 100,000 at nominal value at a price which Landsbankinn hf. and Íslandsbanki hf. each determine in every instance. Quotes shall be renewed as quickly as possible, and always within 10 minutes of their having been accepted in full. The maximum bid-ask spread shall not exceed 1.5% and the deviation from the last transaction price shall not exceed 3%. If the share price changes by 10% or more on the same day, the market maker is permitted to double the maximum bid-ask spread temporarily that day. The maximum aggregated market value of total trades which Landsbankinn hf. and Íslandsbanki hf. each of them, are committed to buy or sell each day corresponds to market value of 700,000 shares in Marel hf.
The agreements are effective as of 08th October 2018 and may be terminated with one-month prior notice.
Additionally, Marel hf.’s market-making agreement with Kvika banki hf, which is on the same terms as stated here above, remains in place.
For further information, please contact Tinna Molphy via email .
