ICEX-15: New Selection Method

On this past May 22, ICEX presented a proposal for a new method for selecting companies into the ICEX-15 index. The proposal was a reaction to a decrease in the number of ICEX-listed companies in the past few years which has reduced the effect of liquidity on the selection. Therefore, the proposal?s aim was first and foremost to increase emphasis on liquidity once more. It also aimed at preventing the reduction in the number of listed companies from reducing competition for places in the index. ICEX has now decided that the changes proposed will take effect as of the next selection to the ICEX-15 index in December of this year.

In addition, ICEX has, in response to comments received from market participants, decided to change the free-float adjustment of market cap used in the selection and calculation of the ICEX-15 index. ICEX will use information on voting rights instead of ownership stakes for the purpose of free-float adjustment if publicly available information indicates that they differ. For further information on the method, please consult the accompanying method description (which is also available on the ICEX website (www.icex.is) under Quotes and Markets / Share Indices / About Indices).