Festi - Increase in share capital

The Board of Directors of Festi hf. has agreed to increlse the share capital of the company  by ISK 3.126.086 new shares in accordance with the mandate provided by the Annual General Meeting on 23 March 2020. Shareholders have waived pre-emptive rights and the shares will be transferred to the following parties; Sjávarsýn ehf., 1.011.381 shares, Betelgás ehf., 1.011.381 shares, Ísfélag Vestmannaeyja hf., 551.662 shares and Kaupfélag Skagfirðinga svf., 551.662 shares, in accordance with a purchase agreement dated 1 March 2020 regarding the purchase of all shares in Íslensk orkumiðlun hf. aw well as the adopted resolution of the shareholders‘ meeting of  Festi. The shares will be issued electronically and registered at Nasdaq CND following the registration at the Company Registry of the Iceland Revenue and Customs. The issuance of these shares exhaust the mandate afforded to the Board of Festi to issue new shares at the Annual General Meeting of 23 March 2020.

For further information contact

Eggert Þór Kristófersson, CEO of Festi, [e-mail]
Magnús Kr. Ingason, CFO of Festi [e-mail]