Marel - New market making agreements with Íslandsbanki hf. and Kvika banki hf.
Marel hf. has entered into new market making agreements for shares in Marel hf. with Íslandsbanki hf. and Kvika banki hf., replacing previous agreements from 2 October 2018 and 26 August 2010 (then MP Banki hf.), respectively.
The purpose of market making agreements is to facilitate trading in the Company's shares on Nasdaq Iceland.
Íslandsbanki hf. and Kvika banki hf. are committed to making daily bid and ask offers, as market makers, on Nasdaq Iceland, for shares in Marel hf., each of the market makers for a minimum of 40,000 shares, at a price which Íslandsbanki hf. and Kvika banki hf. each determine in every instance. The maximum bid-ask spread shall not exceed 1.5% and the deviation from the last transaction price shall not exceed 3.0%. The total number of shares each market maker is committed to buy or sell each day is 240,000 shares in Marel hf.
The agreements, which are valid for an indefinite period, are effective as of 24 February 2020 and may be terminated with one month’s notice.
A market making agreement which Marel hf. had in place with Landsbankinn hf. has been terminated today with immediate effect.
Investor relations
For further information, please contact Marel Investor Relations via email or tel. .
About Marel
Marel (NASDAQ: MAREL; AEX: MAREL) is a leading global provider of advanced food processing equipment, systems, software and services to the poultry, meat and fish industries. Our united team of more than 6,000 employees in over 30 countries delivered around EUR 1.3 billion in revenues in 2019. Annually, Marel invests around 6% of revenues in innovation. By continuously advancing food processing, we enable our customers to increase yield and throughput, ensure food safety and improve sustainability in food production. Marel was listed on NASDAQ Iceland in 1992 and dual-listed on Euronext Amsterdam in June 2019.
