offer submitted by Skoðun
ehf., a subsidiary of Dagsbrún hf., to shareholders in Kögun hf. expired at 4:00 p.m. Tuesday 16 May 2006. The shares owned
by Skoðun ehf. after the expiration of the takeover offer, amount to ISK at nominal value, corresponding to 190.396.654 % of the total share capital in Kögun.
Shareholders who accepted the takeover
offer will receive payment in cash on Tuesday 23 May
Kögun does no longer
fulfil the listing requirements of the Icelandic Stock
Exchange due to limited ownership distribution. The Board of Directors of Kögun will therefore request a de-listing of the company from
the Icelandic Stock Exchange.
For further information,
please contact Dóra Sif Tynes tel: + 354 669 5512.