Correction: Kvika banki hf.: Transaction in relation to a share buy-back programme
On Monday 2.6.2025 Kvika announced that post week 22 buy-back Kvika held 157,410,410 of own shares which corresponds to 2.902% of issued shares. However, 157,410,410 of own shares corresponds to 3.34% of issued shares. The revised announcement is as follows:
In week 22 Kvika banki hf. ('Kvika' or 'the bank') purchased 23,000,000 of its own shares at the purchase price ISK 380,150,000. See further details below:
Date
Time
No. of shares purchased
Share price (rate)
Purchase price
26.5.2025
10:12:07
1,500,000
15.800
23,700,000
26.5.2025
10:53:38
1,000,000
15.925
15,925,000
26.5.2025
11:11:52
1,000,000
15.875
15,875,000
26.5.2025
13:15:32
1,500,000
15.800
23,700,000
26.5.2025
14:17:22
1,000,000
15.800
15,800,000
26.5.2025
15:19:12
750,000
15.800
11,850,000
27.5.2025
10:18:08
2,000,000
15.975
31,950,000
27.5.2025
11:02:06
1,000,000
15.975
15,975,000
27.5.2025
12:31:33
1,000,000
15.950
15,950,000
27.5.2025
14:09:45
1,500,000
15.900
23,850,000
27.5.2025
15:04:50
1,250,000
15.900
19,875,000
28.5.2025
10:33:34
2,000,000
17.000
34,000,000
28.5.2025
13:21:20
2,000,000
17.350
34,700,000
28.5.2025
14:17:08
1,000,000
17.400
17,400,000
30.5.2025
10:50:38
2,000,000
17.750
35,500,000
30.5.2025
12:10:15
1,500,000
17.700
26,550,000
30.5.2025
14:54:22
1,000,000
17.550
17,550,000
Total
23,000,000
380,150,000
The trade is in accordance with Kvika's buyback programme, announced on 22 May 2025 and based on the authorisation of a shareholders' meeting of Kvika held on 21 March 2024 and renewed at the Annual General Meeting on 26 March 2025.
Kvika has now purchased a total of 23,000,000 shares under the buyback programme, which corresponds to 0.497% of issued shares in the company. The total purchase price is ISK 380,150,000. Post these transactions Kvika holds 157,410,410 of own shares which corresponds to 3.34% of issued shares.
Buyback under the programme will amount to a maximum purchase price of 2,500,000,000 ISK but for no higher amount than 236,409,591 shares.
The buyback programme is in effect from 22 May 2025 until Kvika's annual general meeting 2026. unless the maximum purchase price will be reached before that time.
The execution of the buy-back programme must comply with Act on Public Limited Companies. No. 2/1995. In addition. the buy-back programme must be implemented as provided for in the Regulation of the European Parliament and of the Council no. 596/2014. on market abuse. as well as the Commission Delegated Regulation (EU) 2016/1052 on regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures. which supplements that Regulation.
Further information please contact Kvika's investor relations, ir@kvika.is.
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