A decision has been made to transfer the 9.71% shareholding of the Dutch holding company Kjalar Invest B.V. in Kaupthing Bank hf. (71,883,352 shares), to a new and unfounded company, owned by the same parties. The new company will be a Dutch holding company, which will be a sister company of Kjalar Invest B.V. It has also been decided to transfer the 0.17% shareholding of Egla hf. in Kaupthing Bank hf. (1,270,000 shares) to the same unfounded company. It is estimated that the founding of the new company and the transfer of the shares, altogether 9.88%, will take place in the next few days. The new company and Kjalar Invest B.V. will be 100% owned by Kjalar Holding B.V. Kjalar Holding B.V. is 99.99% owned by Egla hf., which is 100% owned by Kjalar hf. The remaining 0.01% is owned by Kjalar hf. Kjalar hf. is under the majority ownership of Ólafur Ólafsson. However, before the transfer, Egla hf. will become the sole shareholder of Kjalar Holding B.V. through an acquisition of the aforementioned 0.01% stake. After the transfer, the new company will be the registered owner of the shares in the share register of Kaupthing Bank hf., instead of Kjalar Invest B.V. and Egla hf. The real ownership of the shares will not have changed though since the new company is owned by the same parties. Kjalar Invest B.V. and Egla hf. are financially connected to Hjörleifur Thór Jakobsson, board member and primary insider in Kaupthing Bank hf., who is also the CEO of Egla hf. The new company will also be financially connected to Hjörleifur. After the transaction, parties financially connected to Hjörleifur will, as before, own 73,162,179 shares in Kaupthing Bank hf., or 9.88%. Hjörleifur owns 12,788 shares in the Bank.