In week 33 Kvika banki hf. („Kvika“ or „the bank“) purchased 10,900,000 of its own shares at the purchase price 167,487,500 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 13.8.2024 | 12:07:06 | 1,000,000 | 15.150 | 15,150,000 |
| 13.8.2024 | 14:18:42 | 1,500,000 | 15.100 | 22,650,000 |
| 14.8.2024 | 13:34:43 | 2,900,000 | 15.125 | 43,862,500 |
| 15.8.2024 | 09:54:41 | 1,500,000 | 15.450 | 23,175,000 |
| 15.8.2024 | 14:41:00 | 1,000,000 | 15.400 | 15,400,000 |
| 16.8.2024 | 10:49:40 | 3,000,000 | 15.750 | 47,250,000 |
| Total | 10,900,000 | 167,487,500 |
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 23,131,783 own shares prior to the notified transaction and has thus purchased a total of 34,031,783 shares under the buyback programme, which corresponds to 0.721% of issued shares in the company. Total purchase price is 516,140,807 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. ir@kvika.is
