BUSINESS: Kvika Banki Hf. : Announcement Concerning An Increase In Share Capital

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by Daniel Webster, dWeb.News Publisher

On 24 November 2021 Kvika banki hf. (,,the Company”) announced that the Board of Directors had exercised its authority according to Temporary Provision IV of the Company’s Articles of Association to increase its share capital by ISK 3,666,667 for the purpose of fulfilling the exercising of subscription rights.

According to Article 19 of Icelandic Act No 20/2021 an issuer shall, if the issuer increases or reduces its share capital or number of voting rights, as soon as possible and no later than on the last trading day of the calendar month, disclose the total number of shares and the total number of voting rights.

The share capital increase has now been registered by the register of undertakings of the Directorate of Internal Revenue and the share capital amounts to nominal value of ISK 4,896,436,599 of which the bank owns 117,256,300 own shares nominal value. Each share is equal to one Icelandic Krona. Each share has one vote.

The Nasdaq central securities deposit will issue the new shares and the shares will be available for trading on the Main Market Nasdaq Iceland.

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