Kvika’s CEO among those who sold shares for tens of millions

This morning, before the Exchange opened, the Bank submitted its interim financial statements for the first half of the year, and the company made a profit of ISK 6.1 billion during the period. The bank fell by 2.1 percent in trading to ISK 1.7 billion today, but more than half of the total stock market turnover in the country today was in the bank’s shares.
Many of the bank’s executives exercised their subscription rights, including Marinó Orn, the bank’s CEO. Armann Porvaldsson, the bank’s Deputy CEO, bought five million shares for ISK 7.16 today but did not sell any of the shares he bought.
Baldur Stefansson, Managing Director of Corporate Finance at Kvika, bought 2.5 million shares for ISK 7.16. He sold four million shares later today for ISK 23.5 per share and came out to ISK 76 million-plus after the transaction today.
Hannes Frimann Hrolfsson, Kvika’s Managing Director of Asset Management, bought four million shares for ISK 7.16 but did not sell his shares before the end of the day. Lilja Rut Jenssen, Kvika’s chief lawyer, bought 1.3 million shares for the ISK 7.16 share and sold two million shares before the end of the day. It was published for over ISK 37 million-plus.
Olof Jonsdottir, Managing Director of Operations and Development, bought 1.25 million shares but did not sell anything before the end of the day. Ragnar Pall Dyer, Chief Financial Officer of the Bank, bought 2.5 million shares in the bank today and sold 4 million shares before the end of the day. He earned over ISK 76
million on the day’s business.
Oskar B. Hauksson, Chief Financial Officer of TM tryggingar, sold one million shares in the bank today for ISK 23.5 per share. He earned ISK 23.5 million before the end of the day. Sigurður Vidarsson, CEO of TM tryggingar, sold three million shares in the bank for ISK 23.5 per share and made over ISK 70 million on the transaction.


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