21.08.2023 12:30:00

Kvika banki hf.: Transaction in relation to a share buyback programme

In week 33 Kvika banki hf. ("Kvika" or "the bank") purchased 4,500,000 of its own shares at the purchase price  78,118,750 ISK. See further details below:

Date Time No. of shares purchased Share price (rate) Purchase price
14.8.2023 10:03:16 250,000 17.250 4,312,500
14.8.2023 11:16:30 250,000 17.200 4,300,000
15.8.2023 11:25:23 250,000 17.550 4,387,500
15.8.2023 12:32:32 250,000 17.500 4,375,000
15.8.2023 13:57:32 250,000 17.550 4,387,500
15.8.2023 15:33:01 250,000 17.550 4,387,500
16.8.2023 10:31:41 250,000 17.500 4,375,000
16.8.2023 14:21:27 250,000 17.525 4,381,250
16.8.2023 15:04:45 250,000 17.525 4,381,250
16.8.2023 15:18:16 250,000 17.525 4,381,250
17.8.2023 10:19:55 250,000 17.500 4,375,000
17.8.2023 11:42:50 250,000 17.500 4,375,000
17.8.2023 14:39:39 250,000 17.400 4,350,000
17.8.2023 15:25:49 250,000 17.350 4,337,500
18.8.2023 10:04:18 250,000 16.750 4,187,500
18.8.2023 12:12:49 250,000 17.100 4,275,000
18.8.2023 13:58:18 250,000 17.100 4,275,000
18.8.2023 15:05:57 250,000 17.100 4,275,000
Total   4,500,000   78,118,750


The trade is in accordance with Kvika‘s buyback programme, announced on 23 June 2023 and based on the authorisation of a shareholders‘ meeting of Kvika held on 30 March 2023.

Kvika held 31,900,000 own shares prior to the notified transacton and has, thus, purchased a total of 36,400,000 shares under the buyback programme, which corresponds to 0.761% of issued shares in the company. Total purchase price is  628,390,750 ISK. Buyback under the programme will amount to a maximum purchase price of 1,000,000,000 ISK.

The buyback programme is in effect from 23 June 2023 until Kvika‘s annual general meeting 2024, unless the maximum purchase price will be reached before that time.

The execution of the buy-back programme must comply with Act on Public Limited Companies, No. 2/1995. In addition, the buy-back programme must be implemented as provided for in the Regulation of the European Parliament and of the Council no. 596/2014, on market abuse, as well as the Commission Delegated Regulation (EU) 2016/1052 on regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures, which supplements that Regulation, cf. Act No. 60/2021 on Actions against Market Abuse.

Further information please contact Kvika‘s investor relations, ir@kvika.is


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