In week 33 Kvika banki hf. (âKvikaâ or âthe bankâ) purchased 10,000,000 of its own shares at the purchase price of ISK 243,975,000. See more details below:
|Dated||Time||Number of shares purchased||Share price (rate)||Purchase price|
The transaction is in line with the Kvika buyback program, announced on July 16, 2021 and based on the authorization of a general meeting of Kvika shareholders held on April 21, 2021.
Kvika held 38,000,000 treasury shares prior to the notified transaction and therefore purchased a total of 48,000,000 shares under the buyback program, which corresponds to 1.01% of the issued shares of the company. The total purchase price is ISK 1,155,337,500. The repurchase under the program will amount to a maximum of 117,256,300 million shares. In addition, TM tryggingar hf., The subsidiary of Kvika, owns 6,400,000 shares which it held when Kvika and TM hf. merged.
The buyback program is in effect from July 19, 2021 until the annual general meeting of Kvika 2022, unless the maximum amount of shares purchased is reached before this date.
The buyback program was executed in accordance with Chapter VIII. of Law No. 2/1995 on public limited companies and of Chapter II of the annex to Regulation No. 630/2005 on inside information and market abuse, âTransactions on own shares within the framework of buyback programs and stabilization of financial instruments â, with subsequent modifications.
For more information: HalldÃ³r Karl HÃ¶gnason, Head of Treasury via tel. (+354) 540 3200.