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

·2 min read
Kvika banki hf.
Kvika banki hf.

In week 23 Kvika banki hf. („Kvika“ or „the bank“) purchased 6,000,000 of its own shares at the purchase price 117,912,500 ISK. See further details below:

Date

Time

No. of shares purchased

Share price (rate)

Purchase price

7.6.2022

14:06:01

500.000

19.65

9,825,000

7.6.2022

14:48:44

1,500,000

19.625

29,437,500

8.6.2022

14:23:55

2,000,000

19.625

39,250,000

10.6.2022

14:03:01

2,000,000

19.7

39,400,000

Total

 

6,000,000

 

117,912,500

The trade is in accordance with Kvika‘s buyback programme, announced on 18 May 2022 and based on the authorisation of a shareholders‘ meeting of Kvika held on 31 March 2022.

Kvika held 20,000,000 own shares prior to the notified transacton and has, thus, purchased a total of 26,000,000 shares under the buyback programme, which corresponds to 0.538% of issued shares in the company. Total purchase price is 521,612,500 ISK. Buyback under the programme will amount to a maximum purchase price of 3,000,000,000 ISK.

The buyback programme is in effect from 19 May 2022 until Kvika‘s annual general meeting 2023, 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: Halldór Karl Högnason, Head of Treasury via tel. (+354) 540 3200.