Eimskip: Changes in market making arrangements

31. August 2020 |

Eimskipafélag Íslands hf. has renewed its market making agreement with Islandsbanki hf. effective as of 3 March 2020 whereas the bank undertakes to act as market maker for the Company’s shares listed on Nasdaq Iceland.

The Company has also cancelled its market making agreement with Landsbankinn hf. effective as of 3 March 2020.

According to the agreement with Islandsbanki, the bank is committed to making daily bid and ask offers for a minimum of 40,000 shares at a price which Islandsbanki determines in every instance, but not exceeding 3% deviation from last transaction price. The maximum bid-sell spread shall be 1.5%. If Islandsbanki makes transactions within the day exceeding 400,000 shares all commitments are cancelled until the next business day. If changes to the Company‘s share price within a day exceeds 10.0%, Islandsbanki can double the maximum bid-sell spread temporarily that day.

The agreement is valid for an indefinite period and may be terminated with 14 days notice.

For further information - Edda Rut Björnsdóttir, Head of Marketing & Communications tel: +354 825-3399 email: investors@eimskip.is