Following the settlement of Lur Berri Iceland ehf.'s ("Lur Berri Iceland")
takeover bid for shares in Alfesca hf. ("Alfesca") Lur Berri Iceland and other
Consortium members will own a total of 91.34% of the share capital and 91.87%
of voting rights in Alfesca. In view of this, Lur Berri Iceland and the Board
of Directors of Alfesca have decided that shareholders in Alfesca who did not
accept Lur Berri Iceland's takeover bid for shares of Alfesca hf. and are not
members of the Consortium concerning the control and operations of Alfesca
shall be subject to redemption of their shares, pursuant to Article 110,
paragraph 1, of Act No. 108/2007 on Securities Transactions.
The redemption price is ISK 4.5 for each share in Alfesca. The shares will be
paid for in cash. This is the same price and compensation that Lur Berri
Iceland offered shareholders in Alfesca in its takeover bid on 25 June 2009.
The redemption period is expected to commence on 26 August 2009 and last four
weeks and payment is expected to be made to shareholders on 29 September 2009.
The shareholders in Alfesca, to whom this redemption applies, will be sent a
notification of the redemption with a share transfer form. The notification
will be published in daily newspapers in accordance with Alfesca's Articles of
Association on convening annual general meetings, cf. Article 110, paragraph 1,
of Act No. 108/2007 on Securities Transactions. This notification and share
transfer form will also be available at Nýi Kaupþing banki hf., Borgartún 19,
105 Reykjavík.