Eyrir Invest ehf. has today decided to increase the number of shares in the company by approximately 10% by selling 101 million new shares at the price of 24.25 ISK. The total number of shares after the issue is 1,108,681,220 each share is 1 ISK of nominal value. The new shares will be purchased by Lífeyrissjóður verzlunarmanna (The Pension Fund of Commerse).
The issue of new shares increases the investment capacity of Eyrir Invest. Simultaneously with the issue Eyrir has founded an independent investment company for investments in venture capital; Eyrir sprotar slhf. Eyrir sprotar will emphasise supporting promising ventures for international growth and value creation.
Árni Oddur Þórðarson, CEO of Eyrir Invest:
„We welcome Lífeyrissjóður verzlunarmanna as a new shareholder. Eyrir´s strategy is to support industrial firms as they expand globally. Eyrir is the core investor in Marel with 36% shareholding in addition to holding 17% in Stork BV which owns and operates Stork Technical Services and Fokker Technologies. Eyrir has also supported other outstanding companies such as Össur in their international growth strategy. Increased financial strength and the founding of Eyrir sprotar, creates new opportunities for continued investments in companies with good growth and value creation potentials.“
The investment by Lífeyrissjóður verzlunarmanna is an important step towards broadening the shareholder of Eyrir. The founders and core shareholders of Eyrir are Þórður Magnússon and Árni Oddur Þórðarson with a combined ownership of 34% following the new issue.
As a part of the investment by Lífeyrissjóður verzlunarmanna there will be a shareholder meeting in Eyrir on January 10th 2012 where the Board of Directors have put forward a proposal on abolishing all restrictions on transfer of shares.
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 36% holding in Marel and 17% holding in Stork BV which owns and operates Stork Technical Services and Fokker Technologies. In recent years Eyrir has increased the share of venture capital investments in its portfolio and with the founding of Eyrir sprotar slhf increased attention will be given to venture capital investments. Eyrir´s „Buy and Build“ strategy has a proven track record as shareholder value has increased well above market returns since foundation.