In week 34 Kvika banki hf. („Kvika“ or „the bank“) purchased 8,000,000 of its own shares at the purchase price 127,300,000 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 19.8.2024 | 11:46:05 | 1,500,000 | 16.000 | 24,000,000 |
| 19.8.2024 | 14:46:12 | 1,500,000 | 16.000 | 24,000,000 |
| 21.8.2024 | 13:56:23 | 3,000,000 | 15.850 | 47,550,000 |
| 23.8.2024 | 14:50:35 | 2,000,000 | 15.875 | 31,750,000 |
| Total | 8,000,000 | 127,300,000 |
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 34,031,783 own shares prior to the notified transaction and has thus purchased a total of 42,031,783 shares under the buyback programme, which corresponds to 0.890% of issued shares in the company. Total purchase price is 643,440,807 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
