Iceland Seafood International hf increases its share capital due to exercise of call options

The Board of Directors of Iceland Seafood International hf. (the "Company") has agreed, with reference to the authority in article 4(2) of the Company's Article of Association, to increase the Company's share capital by ISK 1.664.583, from ISK 2,334,680,351 to ISK 2.336.344.934 nominal value, by issuing new shares. The share increase is a consequence of an employee exercising his option to buy shares in the Company pursuant to option agreements with employees, based on an...

The Board of Directors of Iceland Seafood International hf. (the "Company") has agreed, with reference to the authority in article 4(2) of the Company's Article of Association, to increase the Company's share capital by ISK 1.664.583, from ISK 2,334,680,351 to ISK 2.336.344.934 nominal value, by issuing new shares.

The share increase is a consequence of an employee exercising his option to buy shares in the Company pursuant to option agreements with employees, based on an employee Stock Option plan of the Company, agreed at a shareholders' meeting of the Company held on 11 May 2016 and revised at a shareholders' meeting of the Company held on 11 September 2018.

There are no restrictions on trading the new shares. The new shares shall grant rights in the Company as of the date of registration of the share capital increase.

According to Article 4(2) of the Company's Articles of Association shareholders do not have pre-emptive rights to subscribe to the new shares.

The new shares will be offered to the employee exercising his share purchase option for the subscription price of ISK 5.40 per share. The total nominal value the Company will raise is ISK 1.664.583. Payment for the new shares shall be made to the Company no later than 30 April 2019.

For more information:

Iceland Seafood International hf. (ICESEA)                                                 +354 550 8000

Bjarni Ármannsson, Chief Executive Officer

Reynir Jonsson, Chief Financial Officer

http://www.icelandseafood.com/Investors