It is hereby announced that between 4 April and 2 May 2003
Vörduberg ehf. acquired 116,366,954 shares in Ker hf., but the deadline for the
takeover bid which Vörduberg ehf. made for all shares in Ker hf. expired at 4
p.m. on Friday 2 May. Vörduberg ehf.’s voting rights and shareholdings in Ker
hf. at the close of the takeover period now totals 716,592,859 shares in Ker
hf. or 74.58% of outstanding shares in the company.
The owners of Vörduberg ehf. are
Kjalar ehf., Sund ehf., Vogun hf., J&K Eignarhaldsfélag ehf. and
Fiskiveidihlutafélagid Venus ehf.
The Board of Directors of Vörduberg ehf. is comprised of
Kristján Loftsson, Chairman of the Board, who is also Chairman of the Board of
Ker hf., Chairman of the Board of Fiskiveidihlutafélagid Venus ehf. and a
Member of the Board of Vogun hf., Ólafur Ólafsson, who is also a board member
of Ker hf. and Chairman of the Board of Kjalar ehf., Jón Kristjánsson who is
also a board member of Ker hf. and Chairman of the Board of Sund ehf., and Jón
Thór Hjaltason who is also Chairman of the Board of J&K Eignarhaldsfélagid
The Board of Directors of
Vörduberg ehf. intends to seek for delisting of Ker hf.’s shares on the Iceland
Stock Exchange since the company no longer fulfils the requirements for the
listing of shares on a stock exchange.