22.09.2017

Announcement relating to Kaupthing‘s Stake in Arion Bank

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, THE UNITED KINGDOM, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT


22 September 2017

Kaupthing ehf. ("Kaupthing") announces today that no decision will be made in respect of any potential Arion Banki hf. ("Arion Bank") IPO until after the forthcoming Icelandic general election.

Paul Copley, CEO of Kaupthing:

"Preparations for the sale of Kaupthing‘s stake in Arion Bank have been ongoing and one of the options being considered is an IPO.

Given that a general election has been called in Iceland, we will not make a decision on whether to proceed with an IPO until after the next government has been formed.

That means that it is very unlikely, but not yet impossible, that such a decision will be made so that an IPO could occur in 2017."

This announcement is not being made in and copies of it may not be distributed or sent, directly or indirectly, into the United States, the United Kingdom, Canada, Australia, South Africa, Japan or any other state or jurisdiction in which release, publication or distribution would be unlawful.
This announcement is not an offer of securities for sale in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Arion Bank does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.
This communication does not constitute an offer of the securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities. This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.


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