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Kvika banki hf.: Transaction in relation to a share buyback programme
In week 29 Kvika banki hf. („Kvika“ or „the bank“) purchased 8,000,000 of its own shares at the purchase price 119,050,000 ISK. See further details below:
The trade is in accordance with Kvika's buyback programme, announced on 4 July 2024 and based on the authorisation of a shareholders' meeting of Kvika held on 21 March 2024.
Kvika held no own shares prior to the notified transacton and has, thus, purchased a total of 8,000,000 shares under the buyback programme, which corresponds to 0.169% of issued shares in the company. Total purchase price is 119,050,000 ISK. Buyback under the programme will amount to a maximum purchase price of 1,000,000,000 ISK.
The buyback programme is in effect from 4 July 2024 until Kvika's annual general meeting 2025, 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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