BankNordik P/F - Company Announcement

BankNordik initiates share buy-back programme

The Board of Directors  has decided to exercise the authority to buy back own
shares granted by the Annual General Meeting on 30 March 2016. 

The buy-back programme runs from 30 May 2016 to 30 December 2016 and covers a
maximum of up to DKK 33m in market value. It is conducted as part of the
utilization of the mandate to purchase own shares, granted by the Annual
General Meeting on 30 March 2016. 

The programme is initiated and structured in compliance with the EU Commission
Regulation No. 2273/2003 of 22 December 2003 (the so-called Safe Harbour
Regulative). 

The purpose of the buy-back programme is to adjust the share capital to better
reflect the Bank’s capital targets. 



Conditions for the share buy-back programme



-- BankNordik has entered into a contract with ABG Sundal Collier, in which
ABG Sundal Collier acts as financial advisor and as Lead Manager of the    
programme. ABG Sundal Collier handles all purchase transactions            
independently and without influence from BankNordik.                       

  -- The maximum amount that BankNordik may pay for shares purchased under the
     share buy-back programme is DKK 33m.



  -- The shares cannot be purchased at prices exceeding the higher of (i) the
     price of the latest independent trade and (ii) the price of the highest
     independent bid on Nasdaq Copenhagen at the time of the transaction.



  -- The total number of shares that may be purchased on a single trading day
     may not exceed 25% of the average daily trading volume over the preceding
     20 trading days on Nasdaq Copenhagen.



  -- BankNordik will announce the number of purchased shares, as well as the
     value, on a weekly basis in a separate announcement to Nasdaq Iceland and
     Nasdaq Copenhagen.





Further information:

Árni Ellefsen, CEO, tel. (+298) 230 348



BankNordik has banking activities in Denmark, Greenland and the Faroe Islands
and insurance activities in the Faroe Islands and Iceland. Founded in the Faroe
Islands more than a century ago, the Group total assets of DKK 16.2bn and 477
employees. The Bank is subject to the supervision of the Danish Financial
Supervisory Authority and is listed on Nasdaq Iceland and Nasdaq Copenhagen.
www.banknordik.com