Disclaimers for trading on Saga Market
2. The client must show sufficient knowledge and experience in evaluating the risk involved in investing in unlisted securities. The client must furthermore have sufficient funds to be able to trade in unlisted securities. Investors must prove their ability with satisfactory evidence to the effect.
3. Savings bank owners who wish to sell their savings banks guarantee capital can be exempt from the above listed conditions.
4. All clients are required to:
a. Sign General Terms and Conditions for Clients issued by Saga
Capital's Capital Markets before placing an offer on Saga Market
b. Fill out and turn in appropriate data for money laundering documents
c. Sign a declaration regarding investments in unlisted financial instruments.
5. The minimum amount for transactions in
Saga Capital shares is ISK 5,000,000 but no limit is placed on
transactions in savings bank shares.
b. Fill out and turn in appropriate data for money laundering documents
c. Sign a declaration regarding investments in unlisted financial instruments.
6. Commission is 1.5% of market value.
Transactions in savings bank shares are subject to the condition that the board of the respective savings bank approves the transaction. If a bid is recognized on Saga Market, the buyer shall nevertheless pay the asking price no later than 4:00 pm on the following business day. Saga Capital shall then store the payment in a custody account until the approval of the relevant savings bank's board of directors is granted. Should the board not approve the transaction, any and all commitments relating to the transaction become null and void and the purchasing price and Saga Capital's fee are reimbursed to the buyer.
Saga Capital will make every effort to assist investors in gathering information on the activities and assets of issuers of relevant instruments but in no way will this information gathering be regular and the bank is in no way responsible for providing or gathering such information, neither at the placing of a bid nor after the investment is made.
Saga Capital's objective is solely to mediate information and offers between investors. Saga Capital does not provide investment advise on Saga Market and investors are encouraged to seek outside advice on investing in the instruments mediated on Saga Market.