In week 39 Kvika banki hf. („Kvika“ or „the bank“) purchased 1,502,375 of its own shares at the purchase price 22,827,994 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 25.9.2023 | 13:28:10 | 500,000 | 15.400 | 7,700,000 |
| 25.9.2023 | 14:03:39 | 250,000 | 15.400 | 3,850,000 |
| 25.9.2023 | 14:55:32 | 250,000 | 15.250 | 3,812,500 |
| 26.9.2023 | 15:08:23 | 209,025 | 14.875 | 3,109,247 |
| 27.9.2023 | 09:50:25 | 293,350 | 14.850 | 4,356,248 |
| Total | 1,502,375 | 22,827,994 |
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 57,450,000 own shares prior to the notified transacton and has, thus, purchased a total of 58,952,375 shares under the buyback programme, which corresponds to 1.233% of issued shares in the company. Total purchase price is 999,999,994 ISK but as of week 29, repurchases at a purchase price of ISK 4,356,250 have been overstated in the bank's announcements, or 250,000 own shares which is hereby corrected. Buyback under the programme amounted to a maximum purchase price of 1,000,000,000 ISK and is therefore completed.
The buyback programme was in effect from 23 June 2023 until Kvika‘s annual general meeting 2024, 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 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
