Samherji Holding granted an exemption from mandatory bid obligation in Eimskip

Eimskip has received following notification from Samherji Holding ehf.:

“The Financial Supervisory Authority of the Central Bank of Iceland has today decided to grant Samherji Holding an exemption from mandatory bid obligation in Eimskipafélag Íslands hf. Given the current situation across financial markets, both in Iceland and the world, the conditions for exemption in Article 100.5 of the Icelandic Act on Securities Transactions are fulfilled.

The Financial Supervisory Authority believes, given the circumstances of this case, that this decision guarantees the interests and protection for minority shareholders. Finally, the Financial Supervisory Authority draws attention to the fact that according to Article 102.4 of the Act on Securities Transactions Samherji Holding cannot make a takeover bid for six months from the date the company requested exemption.

“There are currently extraordinary conditions in the financial market. We did not believe it was wise to issue a takeover bid in the current turmoil, but we all hope that the situation will be better later. Like we have stated before, our belief in Eimskip's future has not changed," says Björgólfur Jóhannsson the CEO of Samherji Holding.”