19 September 2021

Share issuance in relation to acquisition of Ahumados Dominguez

As announced on 16 and 17 September Iceland Seafood International has reached an agreement with the Mestanza family to acquire 85% stake in the company Ahumados Dominguez in Spain to be closed on 27 September 2021.

As further announced Iceland Seafood will finance the acquisition with a combination of debt and equity. Consequently, the board of directors of Iceland Seafood has now agreed to utilize its authorization in Paragraph 2 of Article 4 of the company’s articles of association to increase the share capital of the company by issuing 40,000,000 new shares. Investors have subscribed for all the shares at a price 17,10 per share, which is equal to highest bid on Nasdaq Iceland at end of Friday September 17th. The new shares will be paid for in cash and the consideration will be used to partly finance the acquisition of Ahumados Dominguez.

The share increase is subject to the closing of the acquisition of Ahumados Dominguez. The shares will be issued electronically and registered at Nasdaq CND following closing and the registration at the Company Registry of the Iceland Revenue and Customs. Total issued share capital of the Company after the share increase is 2.714.479.971.

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