Skeljungur hf.

Results of Skeljungur´s AGM 2021 - Seite 2

“Authorisation of the Company to acquire own shares, approved at the annual general meeting held on 4 March 2021
The shareholders' meeting of Skeljungur hf. held on 4 March 2021 authorises the Board of Directors of the Company, subject to compliance with other conditions of law, to purchase, once or on more occasions, shares in the Company, on the condition that the Company, together with its subsidiaries, shall only hold a maximum of 10% of the Company’s shares. This authorisation shall be exercised for the purpose of setting up a formal repurchase programme in accordance with Chapter VIII of Act No. 2/1995 on limited liability companies, cf. the annex to Regulation No. 630/2005 on inside information and market abuse entitled Trading in own shares in repurchase programmes and stabilisation of financial instruments.“

5. Proposal on a reduction in share capital
The shareholder´s meeting approved to reduce the Company’s share capital from ISK 1,985,675,666, in nominal value, to ISK 1,936,033,774, by cancellation of all the company’s own shares in the nominal value of ISK 49,641,892. The reduction will be executed by cancelling shares held by the Company in the above amount, subject to the conditions of the act on limited liability companies. The company´s Articles of Accusation will be changed in accordance with the reduction in share capital.

6. Proposal on an amendment of the Company’s Articles of Association
Shareholder´s meeting approved the following changes to paragraph 3. and 4. of Art. 4 of the Articles of Association:
To extend to 2022, and at the same time reduce, the current authorization of the Board of Directors under paragraph 3 of Article 4, so that the Board of Directors is authorized to increase by subscription to new shares the share capital of the Company by up to 811,078 ISK (eight hundred and eleven thousand and seventy eight Icelandic krónur) in nominal value, up to a maximum of 3% of the nominal value of the share capital, in order to meet obligations to employees of Skeljungur and its subsidiaries leading from stock options, purchase and/or subscription agreements in accordance with Skeljungur’s remuneration policy.