meeting of shareholders in Delta hf., held at Hotel Saga on Thursday, 26
September 2002, agreed the Board’s merger plan with Pharmaco hf. The plan
envisages that the companies will merge under the name Pharmaco hf. on 1 July
2002. Shareholders in Delta hf. will receive share equity in Pharmaco hf. as
payment for their shareholdings in Delta hf. The conversion rate of shares
between the companies is based on a rate of 77 at nominal value for shares in
Delta hf. and 73 at nominal value for shares in Pharmaco hf. As is already
known, Pharmaco hf. made a contract on the purchase of 51% of share capital in
Delta hf. in July of this year, and this was paid for by share capital in
Pharmaco hf. At a shareholders’ meeting of Pharmaco hf. on 26 August this year,
an increase of share capital was agreed in the amount of a nominal value of ISK
17 million, which will be used as payment for shares in Delta hf.
of the companies will be further presented at Salurinn in Kópavogur on Friday,
27 September at 4 p.m.