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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 28 Kvika banki hf. („Kvika“ or „the bank“) purchased 7,500,000 of its own shares at the purchase price 155,925,000 ISK. See further details below:

Date

Time

No. of shares purchased

Share price (rate)

Purchase price

11.7.2022

13:48:08

1,000,000

20.95

20,950,000

12.7.2022

09:38:36

500,000

20.6

10,300,000

12.7.2022

11:15:10

500,000

20.65

10,325,000

13.7.2022

11:12:30

500,000

20.7

10,350,000

13.7.2022

12:18:53

1,000,000

20.9

20,900,000

14.7.2022

09:54:00

500,000

20.8

10,400,000

14.7.2022

10:40:36

1,000,000

20.8

20,800,000

14.7.2022

10:48:26

500,000

20.8

10,400,000

15.7.2022

13:40:40

2,000,000

20.75

41,500,000

Total

 

7,500,000

 

155,925,000

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 51,600,000 own shares prior to the notified transaction and has, thus, purchased a total of 59,100,000 shares under the buyback programme, which corresponds to 1.223% of issued shares in the company. Total purchase price is 1,162,740,000 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.

For further information please contact Kvika‘s investor relations at ir@kvika.is