Kaupthing will, for its own account, act as market maker for Landsbanki’s shares on the OMX Nordic Exchange, as announced in a market-making agreement. Kaupthing will submit daily bid/ask offers valid within the day for Landsbanki shares before the market opens.
The purpose of the agreement is to facilitate trading and improve liquidity in Landsbanki’s shares on the OMX Nordic Exchange Iceland and to promote efficient and transparent price formation.
The terms of the market making agreement are as follows:
Kaupthing will submit daily bid and offer quotes for shares in Landsbanki for a minimum of 1,000,000 shares at a price determined by KaupthingMaximum bid/ask spread shall not exceed 1.0% and the deviation from the last transaction price shall not exceed 3.0%The maximum obligated total trades per day is ISK 400,000,000 market valueThe agreement was effective as of 21 January 2008.
For further information:
Landsbanki – Tinna Molphy, Head of Investor Relations, firstname.lastname@example.org and tel: +354 410 7200 / mob: +354 861 1440.
Media Relations – Andrew Walton, Financial Dynamics, tel: +44 20 7269 7204 / mob: +44 7711 264 157.