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Announcement on master agreement on securities trading   22.9.2003 09:11:44
Flokkur: Fyrirtækjafréttir      Íslenska  English

Announcement on master agreement on securities trading

 

 

Landsbanki Íslands hf. (Landsbanki), Íslandsbanki hf., Fjárfestingarfélagið Straumur hf. (Straumur), Samson Global Holdings Ltd., Sjóvá-Almennar tryggingar hf. (Sjóvá), Burðarás hf. and Otec Investment Corporation have today signed an master agreement governing certain securities transactions. The following trades shall be executed According to the agreement:

 

1.  A call-option issued by Sjóvá to Burðarás to buy 564,323,773  shares in  Hf. Eimskipafélag Íslands at 7.3 ISK pr. share. The shares amount to 10.95% of issued shares. Prior to the trade Hf. Eimskipafélag Íslands holds 0.57% of own shares or 29,481,845 shares. Sjóvá will not hold any shares in Hf. Eimskipafélag Íslands after the trade. No insiders cross the companies directly but Einar Sveinsson, CEO of Sjóvá is a member of the board of Hf. Eimskipafélags Íslands. Benedikt Jóhannesson, who is the chairman of Hf. Eimskipafélags Íslands, is the actuary of Sjóvá. Garðar Halldórsson, vice chairman of Hf. Eimskipafélags Íslands, is also a member of the board of directors in Sjóvá.

 

2.  A forward agreement between Íslandsbanki as buyer and Burðarás as seller of 59,832,757 shares in Sjóvá at 37.0 ISK pr. share. The shares equal 11.40% of issued shares. Íslandsbanki holds 44.8% in Sjóvá prior to the trade or 235,440,541 shares, and after the trade, Íslandsbanki will hold 56,2% of issued shares or 295.273.298 shares. Burðarás will not hold any shares in Sjóvá after the trade. See clause 1 for information on insiders, but Einar Sveinsson is also a member of Íslandsbanki´s board of directors.

 

3.  A forward agreement between Íslandsbanki as buyer and Burðarás as seller of 439,178,800 shares in Íslandsbanki at 5.95 pr. share. The shares equal 4,88% of issued shares. Íslandsbanki holds 2.48% of owns shares prior to the trade, or 223,321,160 shares, but will hold 7.36% or 662,499,960 shares after the trade. Einar Sveinsson is the chairman of both companies.

 

4.  A forward agreement between Burðarás as buyer and Straumur as seller of 536,596,341 shares in Hf. Eimskipafélag Íslands at 7.3 pr. share, that will be paid for with 732,178,185 shares in Flugleiðir at 5.35 pr. share. The shares in Hf. Eimskipafélag Íslands equal 10.41% of issued shares and 31.74% of issued shares in Flugleiðir. After executing the trade in this clause and in clause 1 above, Hf. Eimskipafélag will hold 21.93% of own shares or a total of 1,130,401,959 shares.

It shall be noted that a proposal will be made at Hf. Eimskipafélag Íslands shareholders meeting to reduce the share capital by 13.82%. Hf. Eimskipafélags Íslands will hold no shares in Flugleiðir after the trade. Straumur holds 16,784,546 shares in Flugleiðir prior to the trade or 0.73% and after the trade Straumur will hold 748,962,731 shares or 32.46%. Hörður Sigurgestsson is both the chairman of Flugleiðir hf. and a member of the board of directors of Hf. Eimskipafélags Íslands hf. Garðar Halldórsson vice chairman of Hf. Eimskipafélags Íslands is also a member of the board of Flugleiðir hf. Ingimundur Sigurpálsson CEO of Hf. Eimskipafélag Íslands is a member of Flugleiðir´s board of directors.

 

5.  A forward agreement between Straumur as buyer and Landsbanki as seller of 400,000,000 shares in Straumur at 4.33 pr. shares. The shares equal to 9.64% of issued shares. Straumur holds 18,750,078 of own shares prior to the trade or 0.45% and after the trade Straumur will hold 418,750,078 own shares or 10%. Andri Sveinsson is a member of both Landsbanki´s and Straumur´s boards.

 

6.  Forward agreement between Íslandsbanki as buyer and Landsbanki as seller of 420,000,000 shares in Straumur at 4.33. The shares equal to 10.12% of issued shares. Prior to the trades in clause 5. and 6. above, Landsbanki holds 823,732,285 shares in Straumur (of which 144,733,248 shares are bought by a forward agreement with a final date on 27 September 2003) but the bank will hold. 3,732,285 shares or 0.09% of issued shares. Andri Sveinsson is a member of both Landsbanki´s and Straumur boards.

 

7.  A forward agreement between Íslandsbanki as buyer and Samson Global Holding as seller of 561,604,413 shares in Straumur at 4.33. The shares equal to 13,53% of issued shares. Samson Global Holding will hold no shares in Straumur after the trade.

 

8.  A forward agreement between Íslandsbanki as buyer and Otec Investment as seller of 140,000,000 shares in Straumur at 4.33. The shares equal to 3.37% of issued shares. Prior to the trades in clauses 6., 7. and 8. Íslandsbanki held 2.46% or 101,879,582 shares in Straumur. After the trade the bank holds 29.49% or 1,223,483,995 shares.

 

9.  Forward agreement between Landsbanki as buyer and Straumur as seller of 303,403,659 shares in Hf. Eimskipafélag Íslands at 7.3. The shares equal 5.89% of issued shares. Landsbanki holds, prior to the trade, 463.834.495 shares or 9.0% of issued shares. The bank will hold 767.238.154 shares after the trade, or 14.89% of issued shares. Prior to the trades in clauses 4. og 9. Straumur held  16.3% or 840,000,000 shares in Hf. Eimskipafélag Íslands. After the trade Straumur holds no shares. Andri Sveinsson a member of the board of Landsbanki and Straumur

 

 

The agreements mentioned in clauses 1 – 4 above are subject to the approval of a shareholders meeting in Hf. Eimskipafélag Íslands. The board of directors of Hf. Eimskipafélag Íslands agreed on 18 September 2003, to call a shareholders meeting on 9 October 2003.

 

Prentvæn útgáfa
BURD
FL
GLB
LAIS
SJVA
STRB
Announcement on master agreement on securities trading   19.9.2003 11:52:44
Flokkur: Fyrirtækjafréttir      Íslenska  English
Þessi frétt hefur verið leiðrétt

Announcement on master agreement on securities trading

 

 

Landsbanki Íslands hf. (Landsbanki), Íslandsbanki hf., Fjárfestingarfélagið Straumur hf. (Straumur), Samson Global Holdings Ltd., Sjóvá-Almennar tryggingar hf. (Sjóvá), Burðarás hf. and Otec Investment Corporation have today signed an master agreement governing certain securities transactions. The following trades shall be executed According to the agreement:

 

1.  A call-option issued by Sjóvá to Burðarás to buy 564,323,773  shares in  Hf. Eimskipafélag Íslands at 7.3 ISK pr. share. The shares amount to 10.95% of issued shares. Prior to the trade Hf. Eimskipafélag Íslands holds 0.57% of own shares or 29,481,845 shares. Sjóvá will not hold any shares in Hf. Eimskipafélag Íslands after the trade. No insiders cross the companies directly but Einar Sveinsson, CEO of Sjóvá is a member of the board of Hf. Eimskipafélags Íslands. Benedikt Jóhannesson, who is the chairman of Hf. Eimskipafélags Íslands, is the actuary of Sjóvá. Garðar Halldórsson, vice chairman of Hf. Eimskipafélags Íslands, is also a member of the board of directors in Sjóvá.

 

2.  A forward agreement between Íslandsbanki as buyer and Burðarás as seller of 59,832,757 shares in Sjóvá at 37.0 ISK pr. share. The shares equal 11.40% of issued shares. Íslandsbanki holds 44.8% in Sjóvá prior to the trade or 235,440,541 shares, and after the trade, Íslandsbanki will hold 56,2% of issued shares or 295.273.298 shares. Burðarás will not hold any shares in Sjóvá after the trade. See clause 1 for information on insiders, but Einar Sveinsson is also a member of Íslandsbanki´s board of directors.

 

3.  A forward agreement between Íslandsbanki as buyer and Burðarás as seller of 439,178,800 shares in Íslandsbanki at 5.95 pr. share. The shares equal 4,88% of issued shares. Íslandsbanki holds 2.48% of owns shares prior to the trade, or 223,321,160 shares, but will hold 7.36% or 662,499,960 shares after the trade. Einar Sveinsson is the chairman of both companies.

 

4.  A forward agreement between Burðarás as buyer and Straumur as seller of 536,596,341 shares in Hf. Eimskipafélag Íslands at 7.3 pr. share, that will be paid for with 732,178,185 shares in Flugleiðir at 5.35 pr. share. The shares in Hf. Eimskipafélag Íslands equal 10.41% of issued shares and 31.74% of issued shares in Flugleiðir. After executing the trade in this clause and in clause 1 above, Hf. Eimskipafélag will hold 21.93% of own shares or a total of 1,100,920,114 shares.

It shall be noted that a proposal will be made at Hf. Eimskipafélag Íslands shareholders meeting to reduce the share capital by 13.82%. Hf. Eimskipafélags Íslands will hold no shares in Flugleiðir after the trade. Straumur holds 16,784,546 shares in Flugleiðir prior to the trade or 0.73% and after the trade Straumur will hold 748,962,731 shares or 32.46%. Hörður Sigurgestsson is both the chairman of Flugleiðir hf. and a member of the board of directors of Hf. Eimskipafélags Íslands hf. Garðar Halldórsson vice chairman of Hf. Eimskipafélags Íslands is also a member of the board of Flugleiðir hf. Ingimundur Sigurpálsson CEO of Hf. Eimskipafélag Íslands is a member of Flugleiðir´s board of directors.

 

5.  A forward agreement between Straumur as buyer and Landsbanki as seller of 400,000,000 shares in Straumur at 4.33 pr. shares. The shares equal to 9.64% of issued shares. Straumur holds 18,750,078 of own shares prior to the trade or 0.45% and after the trade Straumur will hold 418,750,078 own shares or 10%. Andri Sveinsson is a member of both Landsbanki´s and Straumur´s boards.

 

6.  Forward agreement between Íslandsbanki as buyer and Landsbanki as seller of 420,000,000 shares in Straumur at 4.33. The shares equal to 10.12% of issued shares. Prior to the trades in clause 5. and 6. above, Landsbanki holds 823,732,285 shares in Straumur (of which 144,733,248 shares are bought by a forward agreement with a final date on 27 September 2003) but the bank will hold. 3,732,285 shares or 0.09% of issued shares. Andri Sveinsson is a member of both Landsbanki´s and Straumur boards.

 

7.  A forward agreement between Íslandsbanki as buyer and Samson Global Holding as seller of 561,604,413 shares in Straumur at 4.33. The shares equal to 14.02% of issued shares. Samson Global Holding will hold no shares in Straumur after the trade.

 

8.  A forward agreement between Íslandsbanki as buyer and Otec Investment as seller of 140,000,000 shares in Straumur at 4.33. The shares equal to 3.37% of issued shares. Prior to the trades in clauses 6., 7. and 8. Íslandsbanki held 2.46% or 101,879,582 shares in Straumur. After the trade the bank holds 29.49% or 1,223,483,995 shares.

 

9.  Forward agreement between Landsbanki as buyer and Straumur as seller of 303,403,659 shares in Hf. Eimskipafélag Íslands at 7.3. The shares equal 5.89% of issued shares. Landsbanki holds, prior to the trade, 463.834.495 shares or 9.0% of issued shares. The bank will hold 767.238.154 shares after the trade, or 14.89% of issued shares. Prior to the trades in clauses 4. og 9. Straumur held  16.3% or 840,000,000 shares in Hf. Eimskipafélag Íslands. After the trade Straumur holds no shares. Andri Sveinsson a member of the board of Landsbanki and Straumur

 

 

The agreements mentioned in clauses 1 – 4 above are subject to the approval of a shareholders meeting in Hf. Eimskipafélag Íslands. The board of directors of Hf. Eimskipafélag Íslands agreed on 18 September 2003, to call a shareholders meeting on 9 October 2003.

 


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