Kvika banki hf.: Transaction in relation to a share buyback programme
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In week 36 Kvika banki hf. („Kvika“ or „the bank“) purchased 8,004,000 of its own shares at the purchase price 132,065,800 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 2.9.2024 | 15:05:51 | 4,000 | 16.450 | 65,800 |
| 2.9.2024 | 15:15:39 | 5,000,000 | 16.500 | 82,500,000 |
| 3.9.2024 | 13:57:06 | 3,000,000 | 16.500 | 49,500,000 |
| Total | 8,004,000 | 132,065,800 |
The trade is in accordance with Kvika‘s buyback programme, announced on 4 July 2024 and based on the authorisation of a shareholders‘ meeting of Kvika held on 21 March 2024.
Kvika held 46,491,730 own shares prior to the notified transaction and has thus purchased a total of 54,495,730 shares under the buyback programme, which corresponds to 1.154% of issued shares in the company. Total purchase price is 848,791,107 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 4 July 2024 until Kvika‘s annual general meeting 2025. 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.
Further information please contact Kvika‘s investor relations. [email protected]
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