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Kvika banki hf.: Transaction in relation to a share buy-back programme and correction of a previous announcement regarding the launch of a new share buyback programme.

Written by Customer Service on . Posted in Public Companies.

Correction: Reference is made to the announcement by Kvika banki hf. (Kvika“ or „the bank“) dated 11 September 2026 regarding the termination of the existing share buyback programme and the launch of a new share buyback programme. Kvika hereby corrects information published in the Bank’s announcement on 11 September 2026 regarding the launch of the new share buyback programme. During a review of data, it was identified that the purchase of 1,000,000 own shares for a total consideration of ISK 13,250,000 had not been disclosed in the Bank’s announcements relating to the previous share buyback programme. Taking this correction into account, the Bank repurchased a total of 34,499,997 own shares under that programme for an aggregate consideration of ISK 459,449,959. Accordingly, the remaining authorisation under the new share buyback programme amounts to ISK 1,540,550,041, compared to ISK 1,553,800,041 previously disclosed, or a maximum of 165,500,003 shares, compared to 166,500,003 shares previously disclosed.

In week 38 Kvika banki hf. purchased 4,100,000 of its own shares at the purchase price ISK 50,127,500. See further details below:

DateTimeNo. of sharesShare pricePurchase price
14.09.202610:00:37 750,000    12.5 9,375,000    
15.09.202610:30:12 1,600,000    12.4 19,840,000    
17.09.202610:16:13 1,750,000    11.95 20,912,500    
Total 4,100,000 50,127,500

The trade is in accordance with Kvika‘s buyback programme, announced on 11 September 2026, based on the authorisation of the bank’s Annual General Meeting on 18 March 2026.

Kvika has now purchased a total of 4,100,000 shares under the buyback programme, which corresponds to 0.095% of issued shares in the company. The total purchase price is ISK 50,127,500. Post these transactions Kvika holds 45,836,460 of own shares which corresponds to 1.059% of issued shares.

Buyback under the programme will be limited to an aggregate purchase price of up to ISK 1,540,550,041 and no more than 165,500,003 shares.

The buyback programme will remain in effect until shares have been repurchased for an aggregate consideration of ISK 1,540,550,041 or 165,500,003shares have been acquired, whichever occurs first, but no later than 30 April 2027.

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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