Transaction in relation to a share buyback

In week 32 Kvika banki hf. („Kvika“ or „the bank“) purchased 10,000,000 of its own shares at the purchase price 241,212,500 ISK. See further details below:

Date Time No. of shares purchased Share price (rate) Purchase price
9.8.2021 09:47:33 1,000,000 23.950 23,950,000
9.8.2021 10:04:19 1,000,000 23.950 23,950,000
10.8.2021 09:41:22 1,000,000 23.900 23,900,000
10.8.2021 09:43:29 1,000,000 23.900 23,900,000
11.8.2021 09:43:25 1,000,000 24.100 24,100,000
11.8.2021 09:50:42 1,000,000 24.100 24,100,000
12.8.2021 09:58:52 1,000,000 24.175 24,175,000
12.8.2021 10:01:27 1,000,000 24.175 24,175,000
13.8.2021 09:58:38 1,250000 24.350 30,437,500
13.8.2021 11:43:18 750,000 24.700 18,525,000
Total   10,000,000   241,212,500

The trade is in accordance with Kvika‘s buyback programme, announced on 16 July 2021 and based on the authorisation of a shareholders‘ meeting of Kvika held on 21 April 2021.

Kvika held 28,000,000 own shares prior to the notified transacton and has, thus, purchased a total of 38,000,000 shares under the buyback programme, which corresponds to 0.80% of issued shares in the company. Total purchase price is 911,632,500 ISK. Buyback under the programme will amount to a maximum of 117,256,300 million shares. Additionally TM tryggingar hf., Kvika‘s subsidiary, owns 6,400,000 shares which it owned when Kvika and TM hf. merged.

The buyback programme is in effect from 19 July 2021 until Kvika‘s annual general meeting 2022, unless the maximum amount of purchased shares will 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.

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