The Boards of Directors of
Burdaras hf. and Kaldbakur hf. have signed a joint schedule for the companies’
merger. The planned
merger date is 1 October 2004, as of which Burdaras will take over all operations,
assets, liabilities, rights and obligations of Kaldbakur.
Shareholders in Kaldbakur receive
0.637841438 shares in Burdaras for each share in Kaldbakur.
The Merger Schedule has been
published in the Legal Gazette today, 15 October 2004. The merger documents are
available at the premises of both companies and are attached with this press
release in the news section of the ICEX website.
The merger will be submitted to a
Shareholders’ Meeting of Kaldbakur, to be held at least one month after the
Merger Schedule’s publication. The date of the Shareholders’ Meeting will be