Reference is made to a press release from 7 March 2024 on the results of the Company‘s Annual General Meeting approving to reduce the Company’s share capital by ISK 2,150,000 and the share capital being reduced to 165,700,000 nominal value. The share capital will be reduced by decreasing the Company‘s treasury shares.
The Register of Enterprises of the Icelandic Revenue and Customs has now approved to grant the Company an exemption from the duty to issue a call to shareholders, cf. Article 53.2 of the Act no. 2/1995 respecting Public Limited Companies.
Reduction of treasury shares
The Company‘s treasury shares will be reduced by ISK 2,150,000 and will post reduction be ISK 1,725,320. The share capital will be reduced from ISK 167,850,000 to ISK 165,700,000 nominal value in relation to this reduction. Prior to this treasury shares amounted to 2.31% of total issued shares but will after the reduction amount to 1.04% of total issued share capital. An application has been sent to Nasdaq and the reduction of Company‘s treasury shares will be executed on Wednesday 27 March 2024. We also refer to a Market Notice that will be issued by Nasdaq Iceland regarding the decrease.
