Kvika banki hf.: Transaction in relation to a share buyback programme – buy back is completed
In week 42 Kvika banki hf. („Kvika“ or „the bank“) purchased 1,984,883 of its own shares at the purchase price 54,385,794 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 18.10.2021 | 09:56:12 | 1,984,883 | 27.40 | 54,385,794 |
| Total | 1,984,883 | 54,385,794 |
The trade is in accordance with Kvika‘s buyback programme, announced on 16 July 2021 and based on the authorisation of a shareholders‘ meeting of Kvika held on 21 April 2021.
Kvika held 115,271,417 own shares prior to the notified transacton and has, thus, purchased a total of 117,256,300 shares under the buyback programme, which corresponds to 2.410% of issued shares in the company. Total purchase price is 2,858,421,569 ISK. Buyback allowed under the programme amounted to a maximum of 117,256,300 million shares. The buy back is therefore completed. Additionally TM tryggingar hf., Kvika‘s subsidiary, owns 6,400,000 shares which it owned when Kvika and TM hf. merged.
The buyback programme was in effect from 19 July 2021 until Kvika‘s annual general meeting 2022, unless the maximum amount of purchased shares would be reached before that time.
The buyback programme was executed in accordance with Chapter VIII. of Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to Regulation No. 630/2005 on Inside Information and Market Abuse, “Trade in own shares under buy-back programmes and the stabilisation of financial instruments”, with later amendments.
Further information: Halldór Karl Högnason, Head of Treasury via tel. (+354) 540 3200.
