A decision has been made to transfer the shareholdings of shares in Bakkavör Group hf. held by First Island Trustees (Guernsey) Limited as trustee of the Liveras Family Trust (80,269,613 shares) to a new 100% subsidiary company, owned by First Island Trustees (Guernsey) Limited as Trustees of the Liveras Family Trust. The new company is Lauren & Alysia Investments (Luxembourg) SA. The Trust is discretionary and included among the beneficiaries of the trust is Dion Liveras who is a Board Member of Bakkavör Group hf. After the transfer, the new company will be the registered owner of the shares in the share register of Bakkavör Group hf., instead of First Island Trustees (Guernsey) Limited. The beneficial ownership of the shares will not have changed though, since the new company is owned by the same parties.