Kvika banki hf.: Transaction in relation to a share buyback programme
August 29, 2021 at 05:32 pm EDT
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Kvika banki hf.: Transaction in relation to a share buyback programme
August 29, 2021 17:10 ET| Source: Kvika banki hf.Kvika banki hf.
Reykjavík, ICELAND
Icelandic English
In week 34 Kvika banki hf. ('Kvika' or 'the bank') purchased 10,000,000 of its own shares at the purchase price 236,850,000 ISK. See further details below:
Date
Time
No. of shares purchased
Share price (rate)
Purchase price
23.8.2021
09:48:56
1,200,000
24.075
28,890,000
23.8.2021
09:49:08
800,000
24.075
19,260,000
24.8.2021
09:40:14
2,000,000
23.950
47,900,000
25.8.2021
09:40:34
1,000,000
23.700
23,700,000
25.8.2021
09:40:56
1,000,000
23.700
23,700,000
26.8.2021
10:10:43
1,000,000
23.500
23,500,000
26.8.2021
10:35:53
1,000,000
23.300
23,300,000
27.8.2021
09:48:11
1,000,000
23.300
23,300,000
27.8.2021
10:07:10
1,000,000
23.300
23,300,000
Total
10,000,000
236,850,000
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 48,000,000 own shares prior to the notified transacton and has, thus, purchased a total of 58,000,000 shares under the buyback programme, which corresponds to 1.22% of issued shares in the company, an increase in share capital was announced on 27 August. Total purchase price is 1,392,187,500 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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Kvika banki hf. published this content on 29 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2021 21:31:00 UTC.
Kvika banki hf is an Iceland-based investment bank. It defines five operating segments: Corporate Banking, which comprises various forms of banking services, in addition to providing lending services; Asset Management that includes asset management, both domestic and foreign assets, private banking and private pension plans; Capital Markets, which offers securities and foreign currency brokerage, derivatives brokerage and forward contracts; Corporate Finance that provides customers with impartial and independent advice concerning purchases, sales, mergers and acquisitions of companies; as well as Proprietary Trading and Treasury, which offers market making services and provides the Bank with treasury services. The Bankâs clients comprise primarily institutional investors and corporations.
KVIKA BANKI HF. 
