At its meeting on 6 May 2008, the Board of Directors of Marel Food Systems decided to exercise an authorisation in the company's Articles of Association to increase the share capital of Marel Food Systems by issuing new share capital with a sales value of EUR 117 million. The actual number of new shares to be sold will be determined by the EUR/ISK exchange rate and the offer price. An announcement will be made of the number of shares to be offered and the offer price following a meeting of the Board of Marel Food Systems hf. scheduled for 30 May 2008. The sales value of the shares offered will be used to make partial payment for Stork Food Systems. Landsbanki Íslands hf. has underwritten the offer with support from Eyrir Invest ehf. and Grundtvig Invest ApS, both of which rank among the largest shareholders in Marel Food Systems hf. Shareholders in Marel Food Systems hf. and institutional investors will be invited to subscribe for new shares in Marel Food Systems hf. Shareholders will receive information on subscription arrangements, in addition to which Marel Food Systems will issue a prospectus prior to the first day of the share offering. Corporate Finance of Landsbanki Íslands hf. will serve as manager of the share offer.
- The Board of Directors of Marel Food Systems decides to issue new share capital
| Source: Marel hf.