Kvika banki hf. commences an Equity Buyback Plan for 5% of its issued share capital, under the authorization approved on April 21, 2021.

Kvika banki hf. (ICSE:KVIKA) commences share repurchases on July 19, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 21, 2021. As per the mandate, the company is authorized to repurchase up to 5% of its issued share capital. The maximum price of the purchases shall be the amount of the last independent transaction or highest independent existing purchase bid in the Nasdaq Iceland stock exchange. On July 16, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to 117,256,300 own shares. The purpose of the program is to reduce the company's issued share capital. The program will be valid until the company's next Annual General Meeting 2022, or until the repurchase of 117,256,300 own shares is completed, whichever comes first.