Kvika Banki hf. Share Buyback Programme Overview
During week 34, Kvika banki hf. (Iceland: KVIKA) acquired 8,000,000 of its own shares for a total cost of 127,300,000 ISK. Below are the specifics of these transactions:
Overview of Transactions
The following transactions were completed as part of the share buyback programme:
Transaction Details
Date: 19 August 2024, Time: 11:46:05, Number of shares purchased: 1,500,000, Share price: 16.000 ISK, Total purchase price: 24,000,000 ISK.
Date: 19 August 2024, Time: 14:46:12, Number of shares purchased: 1,500,000, Share price: 16.000 ISK, Total purchase price: 24,000,000 ISK.
Date: 21 August 2024, Time: 13:56:23, Number of shares purchased: 3,000,000, Share price: 15.850 ISK, Total purchase price: 47,550,000 ISK.
Date: 23 August 2024, Time: 14:50:35, Number of shares purchased: 2,000,000, Share price: 15.875 ISK, Total purchase price: 31,750,000 ISK.
In total, these transactions account for 8,000,000 shares purchased at a cumulative cost of 127,300,000 ISK.
Compliance with Buyback Programme
This trading activity aligns with Kvika's buyback programme, which was officially announced on 4 July 2024, and is based on the authorization granted during a shareholders' meeting on 21 March 2024.
Share Ownership After Transactions
Before these transactions, Kvika owned 34,031,783 of its shares. Following the buyback, the total number of shares acquired reaches 42,031,783, which is part of the buyback programme and constitutes 0.890% of the company's issued shares. The total expenditure for this buyback has reached 643,440,807 ISK, with a maximum purchase limit of 1,000,000,000 ISK established under the programme.
Duration and Regulatory Compliance of the Buyback Programme
The buyback programme is set to run from 4 July 2024 until the annual general meeting in 2025, unless the maximum purchase amount is reached before the meeting.
This buyback programme is being executed in full compliance with the Act on Public Limited Companies No. 2/1995. Furthermore, it is crucial that the programme adheres to 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, which outlines the technical standards for buyback programmes and stabilization measures.
For any further questions, please reach out to 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 the purchase of 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?
For more information, you can contact Kvika's investor relations by emailing ir@kvika.is.
