Correction: Kvika banki hf.: Transaction in relation to a share buy-back programme
On Monday 2.6.2025 Kvika announced that post week 22 buy-back Kvika held 157,410,410 of own shares which corresponds to 2.902% of issued shares. However, 157,410,410 of own shares corresponds to 3.34% of issued shares. The revised announcement is as follows:
In week 22 Kvika banki hf. („Kvika“ or „the bank“) purchased 23,000,000 of its own shares at the purchase price ISK 380,150,000. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 26.5.2025 | 10:12:07 | 1,500,000 | 15.800 | 23,700,000 |
| 26.5.2025 | 10:53:38 | 1,000,000 | 15.925 | 15,925,000 |
| 26.5.2025 | 11:11:52 | 1,000,000 | 15.875 | 15,875,000 |
| 26.5.2025 | 13:15:32 | 1,500,000 | 15.800 | 23,700,000 |
| 26.5.2025 | 14:17:22 | 1,000,000 | 15.800 | 15,800,000 |
| 26.5.2025 | 15:19:12 | 750,000 | 15.800 | 11,850,000 |
| 27.5.2025 | 10:18:08 | 2,000,000 | 15.975 | 31,950,000 |
| 27.5.2025 | 11:02:06 | 1,000,000 | 15.975 | 15,975,000 |
| 27.5.2025 | 12:31:33 | 1,000,000 | 15.950 | 15,950,000 |
| 27.5.2025 | 14:09:45 | 1,500,000 | 15.900 | 23,850,000 |
| 27.5.2025 | 15:04:50 | 1,250,000 | 15.900 | 19,875,000 |
| 28.5.2025 | 10:33:34 | 2,000,000 | 17.000 | 34,000,000 |
| 28.5.2025 | 13:21:20 | 2,000,000 | 17.350 | 34,700,000 |
| 28.5.2025 | 14:17:08 | 1,000,000 | 17.400 | 17,400,000 |
| 30.5.2025 | 10:50:38 | 2,000,000 | 17.750 | 35,500,000 |
| 30.5.2025 | 12:10:15 | 1,500,000 | 17.700 | 26,550,000 |
| 30.5.2025 | 14:54:22 | 1,000,000 | 17.550 | 17,550,000 |
| Total | 23,000,000 | 380,150,000 |
The trade is in accordance with Kvika‘s buyback programme, announced on 22 May 2025 and based on the authorisation of a shareholders‘ meeting of Kvika held on 21 March 2024 and renewed at the Annual General Meeting on 26 March 2025.
Kvika has now purchased a total of 23,000,000 shares under the buyback programme, which corresponds to 0.497% of issued shares in the company. The total purchase price is ISK 380,150,000. Post these transactions Kvika holds 157,410,410 of own shares which corresponds to 3.34% of issued shares.
Buyback under the programme will amount to a maximum purchase price of 2,500,000,000 ISK but for no higher amount than 236,409,591 shares.
The buyback programme is in effect from 22 May 2025 until Kvika‘s annual general meeting 2026. 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, .
