Festi - Notification from Arion bank under the market making agreement

Festi announced 12 March 2020 that the company had received a notification from Arion banki under the market making agreement between the parties stating that the bank would activate a clause in the agreement permitting it to deviate from the conditions of the agreement in unforeseen circumstances.

Arion banki has now notified Festi that despite the unforseen circumstances tha bank has met its obligations under the market making agreement in all aspects save the bid-ask spread. The bank is of the view that the circumstances no longer call for deviation from the agreement and its provisions relating to both bid-ask spread and price will be reactivated.

For further information contact Eggert Þór Kristófersson, CEO of Festi ([e-mail]) or Magnús Kr. Ingason CFO of Festi ([e-mail]).