Kvika banki hf.: Transactions in relation to a share buyback programme – repurchase is completed
In week 48 Kvika purchased 4,240,515 of its own shares at the purchase price 43,849,330 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 26.11.2019 | 09:53:44 | 1,411,667 | 10,35 | 14,610,753 |
| 26.11.2019 | 10:49:39 | 2,000,000 | 10,33 | 20,660,000 |
| 27.11.2019 | 09:47:57 | 828,848 | 10,35 | 8,578,577 |
| Total | 4,240,515 | 43,849,330 |
The trade is in accordance with Kvika‘s buyback programme, announced on 21 October 2019 and based on the authorisation of a shareholders‘ meeting of Kvika held on 14 March 2019.
Kvika held 45,759,485 own shares prior to the notified transactions and holds 50,000,000 own shares after them. All shares were purchased under the buyback programme, which corresponds to 2.5% of issued shares in the company. Total purchase price is 520,321,697 ISK. Buyback allowed under the programme amounted to a maximum of 50,000,000 shares, or the equivalent of 2.5% of issued shares. The repurchase is therefore completed.
The buyback programme was in effect from 21 October 2019 until and including 14 February 2020, unless the maximum number 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.
