Iceland Stock Exchange Adopts New Procedures Regarding Insider Transactions - Names of Insiders Revealed

Iceland Stock Exchange adopts new procedures regarding insider transactions on 1 July. From that day on all insider trading will be revealed under the name of the insider, the price at which he traded and his ownership of shares after the transaction.

The obligation of notification applies to all insider transactions. Parties that fall under the definition of insider are the Board of Directors, senior management and key employees, auditors and consultants, such as lawyers and securities firms employees. The obligation of notification shall also cover those persons who are financially linked to the aforementioned parties, such as spouses, cohabitors and dependent children residing in the home of the person concerned. This provision shall also apply to legal entities, including the firm itself.