Skeljungur hf.: Deadline to submit non-binding offers for P/F Magn, Skeljungur’s subsidiary in the Faroe Islands has expired; Skeljungur will now proceed to assess the received offers.

Last 3 June a notice was published to the effect that the board of directors of Skeljungur hf. had decided to extend the deadline to submit non-binding offers for P/F Magn, Skeljungur’s subsidiary in the Faroe Islands, to 9 June.

This deadline has expired and Skeljungur, together with its advisors, will now review the terms and conditions of the submitted offers.

It is uncertain what direction the matter will take but the possible sale of P/F Magn is subject to the approval of a shareholders’ meeting and other conditions that the parties may set.

It should be noted that the above is a part of the process of assessing the advantages of future ownership of P/F Magn, as announced in a notice published last 24 March.

For further information, please contact Árni Pétur Jónsson, CEO .