Eimskip: Changes to market making agreements

Written by Customer Service on . Posted in Public Companies.

Changes have been made to market making agreements with Arion Banki hf. and Íslandsbanki hf.  for shares in Eimskipafélag Íslands hf. on Nasdaq Iceland. The changes are mainly due to the implementation of MiFID II into Icelandic law and are valid as of 2 September 2021.

Changes to market making agreement with Arion banki:

The bid-ask spread shall be determined with reference to the tick size table of Nasdaq Iceland hf. as it is at any given time with the bid-ask spread as close to 1.5% as possible but not below 1.45%. The market makers are permitted to go below the spread in case of circumstances due to the tick size table of Nasdaq Iceland hf.

Changes to market making agreement with Islandsbanki:

The bank is committed to making daily bid and ask offers for a minimum of 30,000 shares at a price which Islandsbanki determines in every instance, but not exceeding 3% deviation from last transaction price.

The bid-ask spread shall be determined with reference to the tick size table of Nasdaq Iceland hf. as it is at any given time with the bid-ask spread as close to 1.5% as possible but not below 1.45%. The market makers are permitted to go below the spread in case of circumstances due to the tick size table of Nasdaq Iceland hf.

If Islandsbanki makes transactions within the day exceeding 240,000 shares all commitments are cancelled until the next business day. If changes to the Company‘s share price within a day exceeds 5.0%, Islandsbanki can double the maximum bid-sell spread temporarily that day

For further information, please contact Edda Rut Björnsdóttir, Executive Vice President of Human Resources & Communications via phone (+354) 825-3399 or investors@eimskip.is

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