Kvika banki hf.: Transaction in relation to a share buyback programme
September 12, 2021 at 03:22 pm EDT
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Kvika banki hf.: Transaction in relation to a share buyback programme
September 12, 2021 14:53 ET| Source: Kvika banki hf.Kvika banki hf.
Reykjavík, ICELAND
Icelandic English
In week 36 Kvika banki hf. ('Kvika' or 'the bank') purchased 8,000,000 of its own shares at the purchase price 200,630,000 ISK. See further details below:
Date
Time
No. of shares purchased
Share price (rate)
Purchase price
6.9.2021
10:02:44
1,700,000
25.20
42,840,000
6.9.2021
15:02:28
300,000
25.30
7,590,000
7.9.2021
10:03:55
200,000
25.30
5,060,000
7.9.2021
10:09:47
1,500,000
25.30
37,950,000
7.9.2021
13:49:50
300,000
25.30
7,590,000
8.9.2021
09:44:36
2,000,000
24.80
49,600,000
10.9.2021
09:48:25
2,000,000
25.00
50,000,000
Total
8,000,000
200,630,000
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 67,700,000 own shares prior to the notified transacton and has, thus, purchased a total of 75,500,000 shares under the buyback programme, which corresponds to 1.58% of issued shares in the company. Total purchase price is 1,818,687,500 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 12 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2021 19:21:00 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. 
