Festi hf.: Capital Increase
July 10 2024 - 11:41AM
UK Regulatory
Festi hf.: Capital Increase
On 10 July 2024 the closing between Festi and
SID ehf. occurred regarding Festi's acquisition of all shares in
Lyfja hf. In connection with this closing, the board of directors
of Festi has resolved to exercise its authorization under Article
5, Paragraph 5 of the company's articles of association to increase
the company’s share capital in order to partially pay the purchase
price in the aforementioned transaction by issuing new shares in
the company to SID ehf. As a result, the company’s share capital
will be increased by 10,000,000 shares, bringing the total nominal
value to ISK 311,500,000 after the increase. Each share has a
nominal value of one ISK, and each share carries one vote.
The capital increase will be notified to and
registered by the Icelandic Company Registration, and the new
shares will be issued by the Nasdaq Central Securities Depository
and will be applied for listing on the Main Market of Nasdaq
Iceland.
For further information, please contact Ásta S.
Fjeldsted, CEO of Festi - asta@festi.is or Magnús Kr. Ingason, CFO
of Festi - mki@festi.is
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