Eyrir Invest makes an offer for the Company’s bonds listed on Nasdaq OMX Iceland
15. May 2013
Eyrir Invest is making an offer for all bonds in the EYRI 11 1 class according to the terms of the bonds and aims for the delisting of the bonds. The buyback will be at par value.
Eyrir Invest’s operations are off to a good start in 2013. The Company’s profit after tax for the first 3 months of 2013 is EUR 21m according to its unaudited accounts.
The Board of Directors of Eyrir Invest has decided to further strengthen the Company’s financials and increase its operational flexibility. Today, Eyrir Invest sold a 3.8% holding in Marel and the proceeds will be used to pay all financial obligations due in the next two years. Eyrir’s equity ratio following the sale is strong and all obligations are long-term financed.
Eyrir Invest remains the principal shareholder in Marel with a 29.3% holding, which is slightly below the takeover threshold for shares listed on Nasdaq OMX Iceland.
For further information, please contact;
Arni Oddur Thordarson, CEO
Eyrir Invest is an international investment company. Eyrir Invest places great emphasis on participating in the operations and strategic planning of its core holdings. Eyrir Invest’s core holdings are a 29% share in Marel and 17% holding in Stork TS and Fokker. In addition, Eyrir Invest invests in prominent growth companies through its venture capital subsidiary, Eyrir Sprotar slhf. Eyrir’s “buy and build” strategy has delivered good returns since the company’s foundation in mid-year 2000.
Statements in this press release that are not based on historical facts are forward-looking statements. Although such statements are based on management’s current estimates and expectations, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in our forward-looking statements, and that we do not undertake to update any forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement