3 October 2019

Iceland Seafood International hf.: Publication of Prospectus and terms of Offering

The Board of Directors of Iceland Seafood International hf. („Iceland Seafood“)  has requested that all shares in the company be admitted to trading on the Main Market of Nasdaq Iceland hf. and has in connection with the application and a public offering of new shares in Iceland Seafood (the "Offering") published a Prospectus dated 3 October 2019 (hereafter referred to as the "Prospectus").

About the Offering

The subscription period for the Offering will start at 12:00 GMT Wednesday 16 October 2019 and end at 16:00 GMT Friday 18 October 2019, subject to shortening or extension. The offering consists of  225,000,000 new shares or 9.63% of the company's total share capital. Subscriptions will only be accepted electronically on Kvika Banki's website www.kvika.is/ISI. Two order books are available, the final size of each order book to be decided upon allocation, provided that demand warrants the change in distribution with respect to price and volume.

Order book A

Order book B

  • Purchase value in the range of ISK 100,000-10,000,000
  • Price range ISK 9,40-9,82 per share
  • One final offering price, equal to or lower than Order book B
  • Minimum purchase value of ISK 10,000,000
  • Minimum price ISK 9,40 per share
  • One final offering price, equal to or higher than Order book A

Investors are invited to attend an open presentation of the company on Thursday 10 October at 16:30 GMT. The meeting will be held in Kvika Banki's headquarters at Borgartún 25. Additionally, Iceland Seafood’s Investor Presentation is attached and available on the company's website, www.icelandseafood.com/investors as well as on the Offering's website www.kvika.is/ISI.

The results of the Offering are expected to be published at the latest on 21 October 2019. Information on the allocation of shares to investors in the Offering (i.e. confirmation or reduction of subscriptions) is expected to be available to investors on 22 October, the final due date is set for 25 October and paid shares will be delivered to the buyer after the close of trading on the Regulated Market of Nasdaq Iceland and First North Iceland on 28 October. Pursuant to the above information, the first expected day of trading for the shares on the Main Market of Nasdaq Iceland is 29 October 2019.

Prospectus approved and filed with the Financial Supervisory Authority

Further details of the Offering and the terms thereof are set out in the Prospectus, which has been approved by the Financial Supervisory Authority of Iceland and published today. The Prospectus is published in English and is available on the company's website, www.icelandseafood.com/investors, as well as on the Offering's website www.kvika.is/ISI. The company has also published a summary in Icelandic which is a translation of the English version which is the approved copy. If there is a discrepancy between the English text and the Icelandic version of the summary, the English version shall apply.

Further Information

Kvika Banki’s Corporate Finance and Capital Markets divisions are the Listing Advisor and Offering Manager. Further information and assistance regarding the Offering and Iceland Seafood’s listing on the Main Market of Nasdaq Iceland hf. can be obtained from Kvika Banki via the email address icelandseafood@kvika.is or at tel.540-3200.

www.kvika.is/ISI