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Kvika banki hf.: Transaction in relation to a share buyback programme – buy back is completed

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

In week 38 Kvika banki hf. („Kvika“ or „the bank“) purchased 7,771,265 of its own shares at the purchase price 149,759,989 ISK. See further details below:

Date

Time

No. of shares purchased

Share price (rate)

Purchase price

19.9.2022

11:19:38

1,000,000

19.95

19,950,000

19.9.2022

13:39:11

1,000,000

19.8

19,800,000

20.9.2022

09:36:12

1,000,000

19.85

19,850,000

20.9.2022

09:37:34

1,000,000

19.85

19,850,000

21.9.2022

09:31:31

1,000,000

19.2

19,200,000

21.9.2022

14:24:56

500,000

19.1

9,550,000

21.9.2022

15:22:54

500,000

19

9,500,000

22.9.2022

09:38:54

1,771,000

18.1

32,055,100

22.9.2022

13:47:46

265

18.45

4,889

Total

 

7,771,265

 

149,759,989

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 140,100,000 own shares prior to the notified transaction and has, thus, purchased a total of  147,871,265 shares under the buyback programme, which corresponds to 3.006% of issued shares in the company. Total purchase price is 2,999,999,989 ISK. Buyback under the programme amounted to a maximum purchase price of 3,000,000,000 ISK.

The buyback programme was in effect from 19 May 2022 until Kvika‘s annual general meeting 2023, unless the maximum purchase price would be reached before that time.

The buy-back programme was executed in compliance with Act on Public Limited Companies, No. 2/1995. In addition, the buy-back programme was 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