As announced on February 21st the acquisition of Elba Seafood ehf was completed that day where 50% of the acquisition price was paid by cash and 50% with shares in Iceland Seafood International hf (“Iceland Seafood”, “the Company”). The shares were due to be issued and delivered to the sellers when 2019 audited accounts for Elba S.L would be completed. As the audited accounts for Elba S.L. have now been completed and results are in line with previous indications, the board of Iceland Seafood has now agreed to increase the share capital of the company by issuing 29.994.059 new shares which will be delivered to the sellers. The share issuance is done in accordance with article 4(3) of the Company’s Articles of Association as approved at the annual general meeting of the Company on 19 March 2020 where shareholders waived pre-emptive rights relating to new shares issued under article 4(3).
The shares will be issued electronically and registered at Nasdaq CND following the registration at the Company Registry of the Iceland Revenue and Customs. Total issued share capital of the Company after the share increase is 2.616.002.630.