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 1.614.582, from ISK 2,324,565,769 to ISK 2.326.180.351 nominal value, by issuing new shares.

The share increase is a consequence of two current employees of the Company exercising their option to buy shares in the Company pursuant to option agreements with the 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 payment for the new shares shall be made in full with cash payment.

The new shares will be offered to the employees exercising their share purchase option for the subscription price of ISK 5.40 per share. The total amount the Company expects to raise is ISK 1.614.582. Payment for the new shares shall be made to the Company no later than 31 January 2019.

For more information:

Iceland Seafood International hf. (ICESEA)                                                

Helgi Anton Eiríksson, Chief Executive Officer

Reynir Jonsson, Chief Financial Officer