At the Shareholders’ Meeting of Burdarás hf. held on
Thursday 15 September, the following motion was passed:
The Company’s purchase of 305,938,652
shares in Ker hf. at the nominal price of ISK 1 per share and the Company’s
purchase of 446,816 shares in Egla hf. at the nominal price of ISK 1 per share
from Fjárfestingarfélagið Grettir hf. pursuant to the Purchase Agreement
concluded on 2 August 2005 for a total of ISK 10,725,000,000.
To increase the Company’s share
capital by ISK 385,677,837 nominal value through the issue of 385,677,837 new
shares. The shareholders waive their pre-emptive rights for subscription in respect
of the share capital increase. The shares shall be delivered to Fjárfestingarfélagið
Grettir hf. as payment for the Company’s purchase of shares in Ker hf. and Egla
hf. pursuant to Item A subject to having met the conditions for the purchase. The price of
the new shares shall be ISK 16.4 per share. The time limit for delivering the
shares and their payment shall be 1 year. The estimated cost for the Company in
relation to the share capital increase is ISK 100,000. The new
shares shall grant rights within the Company as of the date of registration of
the share capital increase.
The Company’s division and merger
with, on the one hand, Landsbanki Íslands hf. and, on the other hand, Straumur
Investment Bank hf. under the Schedule for Division and Merger approved by the
Boards of Directors of Burdarás hf., Landsbanki Íslands hf. and Straumur
Investment Bank hf. on 1 August 2005.
The above decisions of the Shareholders’ Meeting are
subject to approval by shareholders’ meetings of Straumur Investment Bank hf.
and Landsbanki Íslands hf. to be held later today, Thursday 15 September.
The above decisions are also subject to approval by the Financial Supervisory
Authority and the Competition Authority.