Transaction in relation to a share buyback

In week 38 Kvika banki hf. („Kvika“ or „the bank“) purchased 8,000,000 of its own shares at the purchase price 183,000,000 ISK. See further details below:

Date Time No. of shares purchased Share price (rate) Purchase price
20.9.2021 09:44:22 2,000,000 22.80 45,600,000
21.9.2021 09:57:13 1,000,000 23.20 23,200,000
21.9.2021 10:02:17 1,000,000 23.20 23,200,000
22.9.2021 11:27:31 1,000,000 22.70 22,700,000
22.9.2021 13:31:43 1,000,000 22.70 22,700,000
23.9.2021 10:53:37 2,000,000 22.80 45,600,000
Total   8,000,000   183,000,000

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 83,500,000 own shares prior to the notified transacton and has, thus, purchased a total of 91,500,000 shares under the buyback programme, which corresponds to 1.92% of issued shares in the company. Total purchase price is 2,193,087,500 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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