Kvika Banki Hf.: Transaction In Relation To A Share Buyback ...| MENAFN.COM

Sunday, 25 September 2022 04:52 GMT

Kvika Banki Hf.: Transaction In Relation To A Share Buyback Programme Buy Back Is Completed


(MENAFN- GlobeNewsWire - Nasdaq) English Icelandic

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




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