In week 29 Kvika banki hf. („Kvika“ or „the bank“) purchased 8,000,000 of its own shares at the purchase price 119,050,000 ISK. See further details below:
| Date | Time | No. of shares purchased | Share price (rate) | Purchase price |
| 15.7.2024 | 11:19:20 | 1,000,000 | 14.60 | 14,600,000 |
| 15.7.2024 | 14:11:13 | 1,000,000 | 14.55 | 14,550,000 |
| 16.7.2024 | 15:13:35 | 1,000,000 | 14.65 | 14,650,000 |
| 17.7.2024 | 13:51:29 | 2,000,000 | 14.90 | 29,800,000 |
| 18.7.2024 | 09:49:44 | 1,000,000 | 15.00 | 15,000,000 |
| 18.7.2024 | 15:07:29 | 1,000,000 | 15.30 | 15,300,000 |
| 19.7.2024 | 11:53:39 | 1,000,000 | 15.15 | 15,150,000 |
| Total | 8,000,000 | 119,050,000 |
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 no own shares prior to the notified transacton and has, thus, purchased a total of 8,000,000 shares under the buyback programme, which corresponds to 0.169% of issued shares in the company. Total purchase price is 119,050,000 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
