On 14 September 2007, OMX Nordic Exchange in Iceland (OMX Iceland) received a request from the Board of Directors of Vinnslustodin hf. (VNST) for delisting of the company's shares from OMX Iceland. There has been disagreement among shareholders of VNST as to whether the company's shares should be delisted or not. The Board of Directors has complied with a request from OMX Iceland that an extraordinary general meeting discuss the request for delisting of VNST's shares before the exchange takes a decision in this matter and an EGM was accordingly held on 8 November 2007. At the meeting the Board of Directors of VNST presented a report providing detailed grounds for the delisting, as provided for in Art. 18 of Act No. 34/1998. A complete report from the Board of Directors of VNST was received by OMX Iceland on 14 November 2007. The second paragraph of Article 18 of Act No. 34/1998, which was in force when the request for delisting was received by OMX Iceland, states that the issuer of officially listed securities, or a stock exchange member on its behalf, may submit a written request for them to be delisted. The Board of the exchange shall comply with this request upon receiving an explanatory statement supporting such a request. The Board may, however, decide that the equities will not be removed from the listings until up to one year has passed from the time a complete report is received by the exchange. It may also decide to publish the report in whole or in part. Having regard for the extent of the opposition to the delisting of shares in VNST on the part of other shareholders, in the assessment of OMX Iceland the exchange should avail itself of the time limit provided in Article 18 of Act No. 34/1998 to the exchange to postpone the delisting of shares. In resolving the matter, the defining concern will be to have regard for minority shareholder interests, since the majority shareholders disagree with a minority as to whether delisting should be requested. Holders of a minority of shares in VNST have provided strong arguments to support their claim that it is in their interest that shares of VNST continue to be listed on the exchange. In the assessment of OMX Iceland, it is not possible to disregard these arguments. In view of the above, it is the conclusion of OMX Iceland that the delisting of shares in VNST should be postponed for one year from the date that the complete report was received by the exchange, on 14 November 2007. Accordingly, shares in VNST will not be delisted until 14 November 2008.