As announced after the Annual General Meeting of Iceland Seafood on March 16th the company’s board of directors was given an authorization to increase the company’s share capital by up to ISK 150.000.000 nominal value.
The board of directors has now decided to utilize this authorization in full, to strengthen the company’s financial position. The share increase is done in accordance with paragraph 3 of Article 4 of the company’s Articles of Association.
In total 150.000.000 new shares will be issued, Investors have subscribed for all the shares at a price of 6.00 per share, which is equal to the highest bid on Nasdaq Iceland at end of Friday May 19th. The new shares will be paid for in cash, they will be issued electronically and registered at Nasdaq CDN 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 2.864.479.971.