Kvika Banki hf. Announces Share Buyback Details
Kvika Banki hf. Share Buyback Programme Details
In week 34, Kvika banki hf. (Iceland: KVIKA) purchased 8,000,000 of its own shares at a total purchase price of 127,300,000 ISK. Below are further details regarding the transactions:
Transactions Overview
The following transactions were made as part of the share buyback programme:
Detailed Transaction Data
Date: 19 August 2024, Time: 11:46:05, No. of shares purchased: 1,500,000, Share price: 16.000 ISK, Purchase price: 24,000,000 ISK.
Date: 19 August 2024, Time: 14:46:12, No. of shares purchased: 1,500,000, Share price: 16.000 ISK, Purchase price: 24,000,000 ISK.
Date: 21 August 2024, Time: 13:56:23, No. of shares purchased: 3,000,000, Share price: 15.850 ISK, Purchase price: 47,550,000 ISK.
Date: 23 August 2024, Time: 14:50:35, No. of shares purchased: 2,000,000, Share price: 15.875 ISK, Purchase price: 31,750,000 ISK.
The total of these transactions amounts to 8,000,000 shares purchased for a cumulative amount of 127,300,000 ISK.
Buyback Programme Compliance
This trade is in accordance with Kvika's buyback programme, which was announced on 4 July 2024, and operates based on the authorisation from a shareholders' meeting held on 21 March 2024.
Share Ownership Post-Transaction
Prior to the notified transaction, Kvika held 34,031,783 of its own shares. After the buyback, the total purchased shares rise to 42,031,783 under the buyback programme, representing 0.890% of the issued shares of the company. The total purchase price under this buyback amounts to 643,440,807 ISK, with a maximum allowable purchase limit of 1,000,000,000 ISK set under the programme.
Duration and Legislative Compliance of the Buyback Programme
The buyback programme is active from 4 July 2024 until the annual general meeting in 2025, unless the maximum purchase price is achieved ahead of the meeting.
The execution of this buyback programme adheres strictly to the Act on Public Limited Companies No. 2/1995. Additionally, it is important that the buyback programme is conducted in strict compliance with the Regulation of the European Parliament and of the Council No. 596/2014 concerning market abuse, as well as the Commission Delegated Regulation (EU) 2016/1052 regarding technical standards applicable to buy-back programmes and stabilization measures.
For further inquiries, please contact Kvika's investor relations at ir@kvika.is
Frequently Asked Questions
What is Kvika's recent share buyback programme?
Kvika's recent share buyback programme involves purchasing 8,000,000 of its shares totaling 127,300,000 ISK.
When was the buyback programme announced?
The buyback programme was announced on 4 July 2024.
What percentage of issued shares does the buyback represent?
The buyback represents 0.890% of the total issued shares of Kvika banki hf.
What is the maximum purchase price set under the buyback programme?
The maximum purchase price for the buyback programme is set at 1,000,000,000 ISK.
Who can be contacted for more information regarding the buyback?
Further information can be sought from Kvika's investor relations by emailing ir@kvika.is.
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