Offer Document made public

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| Source: Atlantic Airways P/F
multilang-release

On 10 February 2014, the Board of Directors (“we”) announced a voluntary public offer (“the Offer”) for shares in Atlantic Airways P/f (“Atlantic Airways”) not already owned by the Ministry of Trade and Industry (The Government of the Faroe Islands) or Atlantic Airways.

The Offer document has been approved by the Icelandic FSA and was made public today. The Offer document is available on Atlantic Airway’s website, www.atlantic.fo, and is also sent to shareholders listed in Atlantic Airways’ share registry on 6 March 2014.

 

Offer price and payment

The Offer Price is 4,403.28 ISK, or 210 DKK, paid in cash for each share in Atlantic Airways, having a nominal value of DKK 100 each. The Offer Price is 41.9% and 48.9%, respectively, above the closing prices on NASDAQ OMX Iceland and NASDAQ OMX Copenhagen of Atlantic Airways’ shares one trading day prior to 10 February 2014.

 

Governing law

The Offer is a voluntary offer made in accordance with the Icelandic Securities Transactions Act No. 108/2007 with subsequent amendments. The Offer is governed by Icelandic law.

 

Offer period

The offer period runs from 13 March and expires on 22 April 2014 at 16:00 p.m. (Faroese time), unless otherwise communicated.

 

Statement by the Board of Directors

The Board of Directors of the Company will no later than 15 April 2014 issue a statement regarding the Offer. This statement will also include the conclusions of an external independent fairness opinion on the terms and conditions of the Offer prepared by the Icelandic investment bank, Straumur Fjárfestingabanki hf.

 

Acceptance of the Offer

The Offer may be accepted by completing and returning the acceptance form set out in appendix 1 of the Offer document.

For further information on the Offer we refer to the Offer document.

 

Yours sincerely,

 

Niels Mortensen, Chairman of the Board of Directors

Atlantic Airways P/f

 

 

For further information please contact Niels Mortensen on tel.: +298 21 69 28