The takeover offer submitted by Atorka Group hf.
to shareholders in Jarðboranir expired at 4:00 p.m. Monday 16 January,
2006. The shares owned by Atorka Group
in Jarðboranir, after the expiration of the takeover offer, amount to ISK
386,880,994 at nominal value, corresponding to 96.72% of the total share
capital in Jarðboranir. Jarðboranir
holds own shares of the nominal value of ISK 5,743,259, therefore the shares
owned by Atorka Group amount to 98.16% of its active share capital.
Shareholders who accepted the takeover offer will
receive shares in Atorka Group and the exchange of share certificates will take
place in the period 17 – 23 January, 2006.
Jarðboranir does no longer fulfil the listing requirements
on the Icelandic Stock Exchange because of ownership distribution. The Board of Directors in Jarðboranir is
planning to request for a cancel of Jarðboranir listing at the Icelandic Stock
For further information, please contact Magnús
Jónsson, the CEO of Atorka Group, telephone +354 540 6200.