Eyrir Invest increases equity and extends maturity of financing

01. February 2013

Today the Board of Directors of Eyrir Invest hf. decided to issue a new B-class of share capital.  Total value of the new issue is 2.8 billion ISK (approx. EUR 16 m).  Parallel to the new issue of shares Eyrir secured extended maturity of borrowings for the majority of its existing long-term loans through an agreement with current banking partners.  After the agreement 85% of the Company´s borrowings are long term with repayment in 2015-2018.

Arni Oddur Thordarson, CEO:

“We are pleased to welcome new shareholders to Eyrir and as well are we grateful for the trust extended to us by our banking partners“

Eyrir´s EGM authorized issuance of up to 231.000.000 B class shares as stated in an announcement to Nasdaq OMX Iceland on 21 December 2012.  Today the Board of Directors of Eyrir decided to issue 107.630.769 B class shares.  The agreed subscription price is ISK 26 per share, total subscription of the new shares amounts to ISK 2.798.999.994.   B class shares carry no voting rights but have priority to dividends.  B class shares are convertible to A-class shares at any time.   Total issued A class shares are 1.108.681.220, thereof 100.000.000 treasury shares.

Arctica Finance acted as advisor in relating to the Company´s share increase.  The new shareholders are pension funds and institutional investors.

About Eyrir Invest

Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders. Eyrir places great emphasis on aligning execution with good long-term strategic planning. Eyrir´s core assets are a 33% holding in Marel, 17% holding in Fokker Technologies and 17% holding in Stork Technical Services. As well invests Eyrir in prominent ventures. Eyrir´s “Buy and Build“ strategy has a proven track record as shareholder value has increased well above market returns since foundation.

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