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.
For further information, please contact Marel Investor Relations via email IR@marel.com or tel. +354 563 8001.