The proposals submitted at Shareholders Meeting of FL Group on Tuesday
September 25, 2007 were approved unanimously.
1. The following proposal of the Board of Directors to increase the share
capital of FL Group hf. for the purpose of financing purchase of shares in
Tryggingamidstodin hf. was approved:
The company's Board of Directors may increase the company's share capital by
issuing and selling new shares in the nominal value up to 1,316,476,938 from
ISK 7,944,985,920 up to ISK 9,261,462,858 for the purpose of financing the
purchase of shares in Tryggingamidstodin hf. The shareholders shall not have
pre-emptive rights to purchase the new shares. The company's Board of
Directors decides the price of the shares, the subscription period and
payment method and from which time the new shares are granted rights in the
company it is permitted to pay for the new shares with shares in
Tryggingarmidstodin hf.
2. The following proposal of the Board of Directors to authorize the Board of
Directors to increase the share capital of FL Group hf. was approved:
Proposal to authorize the Board of Directors to increase the share capital
of FL Group hf. with the issuance of new shares by up to ISK 2,000,000,000,
firstly by up to ISK 1,500,000,000 without shareholders pre-emptive rights
applicable and secondly by up to ISK 500,000,000 subject to shareholders
pre-emptive rights.
Following the Shareholders Meeting a Board Meeting was held, where the Board of
Directors approved to issue 973,673,140 shares in FL Group to finalize the
purchase of shares in Tryggingamidstodin hf. The approval of the Shareholders
Meeting and Board Meeting leads to that the provision made in relation to the
purchase of shares in Tryggingamidstodin is not applicable any more.
Simultaneously the Articles of Association have be changed accordingly.
Further information:
Kristjan Kristjansson, Director Corporate Communication, tel. +354 591 4400
