Reykjavik, October 21, 2025 (GLOBE NEWSWIRE) — LLC Amarok.
(“Amarok” or “Company”)
Notice to Icelandic Depositary Receipt Holders
Simplification and optimization of Amaroq securities under a single ISIN
TORONTO, ONTARIO – October 21, 2025 – Amaroq Ltd. (AIM, TSX-V, NASDAQ Iceland: AMRQ, OTCQX: AMRQF) announces that its Icelandic depositary receipts (“IDRs”) (ISIN IS0000034569) currently issued by Arion Banki hf. will be automatically converted into depositary interests (“DI”). The DIs, issued by Computershare Investor Services PLC and included in Nasdaq CSD Iceland through its association with CREST, will consolidate Amaroq's equity securities under a single ISIN. This simplification simplifies cross-border settlements and administration, while ensuring that Icelandic investors will continue to trade on Nasdaq Ireland in ISK as before. Since depositary shares replicate direct share ownership, this change is only a technical adjustment and does not affect the underlying shares or investor rights.
What's changing?
- IDR program managed by Arion Banki hf. will be terminated.
- In lieu of IDRs, investors will hold rights to the securities through depositary interests (DIs), which are dematerialized securities representing Canadian common shares of Amaroq.
- DI is a standard form of securities in the UK that allows you to hold overseas shares and settle trades via CREST. In Iceland, these DIs will be affiliated with Nasdaq CSD Iceland, so they appear and function in the same way as any other securities deposited in Iceland.
- This change ensures that Icelandic shareholders' shares will now have the same ISIN as the company's Canadian shares and DI (CA02311U1030).
- From the effective date, the IDRs (IS0000034569) will be removed from investors' accounts in Nasdaq CSD Iceland and an equivalent number of DI rights (CA02311U1030) will be credited automatically.
What doesn't change?
- Underlying Canadian stocks remain exactly the same.
- Shareholder rights (dividends, voting and corporate actions) remain unchanged and will be processed through Nasdaq CSD Iceland.
- The company's AIM listing will remain unchanged and trading will continue as normal.
- Trading on Nasdaq Iceland continues as before in ISK, without interruption.
- Investors do not need to take any action – the conversion will happen automatically.
Effective date and additional information
The conversion of the IDR to DI will be effective upon completion of the necessary operational activities. The Company will announce the effective date and provide additional practical information to investors once confirmed, in coordination with all relevant parties, including Nasdaq CSD Ireland, Arion Banki and Computershare Investor Services PLC.
For technical information or to prepare internal procedures prior to conversion, custodians may contact Nasdaq CSD Iceland at: [email protected].
Requests:
LLC Amarok. s/o
Ed Westropp, Head of Business Development and Corporate Relations
+44 (0)7385755711
[email protected]
Eddie Wyvill, Corporate Development
+44 (0)7713 126727
[email protected]
Panmure Liberum Limited (appointed advisor and corporate broker)
Scott Matheson
Freddie Wooding
+44 (0) 20 7886 2500
Canaccord Genuity Limited (corporate broker)
James Asensio
Harry Rees
Tel: +44 (0) 20 7523 8000
Camarco (Financial PR)
Billy Clegg
Alfie Kent
Fergus Young
+44 (0) 20 3757 4980
[email protected]
For company updates:
Follow @Amaroq Ltd. in X (formerly known as Twitter)
Follow Amaroq Ltd. on LinkedIn
Additional information:
About Amarok
Amaroq's primary business objectives are to identify, acquire, explore and develop gold and strategic metals deposits in South Greenland. The Company's main asset is its 100% interest in the Nalunaq gold mine. The Company has a portfolio of gold and strategic metals assets in South Greenland, covering two prominent gold belts in the region, as well as advanced exploration projects in Stendalen and the Sava Copper Belt for strategic metals exploration such as copper, nickel, rare earth elements and other minerals. Amaroq continues to operate under the Business Corporations Act (Ontario) and wholly owns Nalunaq A/S, a company incorporated under the Greenland Companies Act.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Inside information
This announcement does not contain inside information.
