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Skeljungur hf.

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Skeljungur hf.: Results of the takeover bid by Strengur hf. to shareholders of Skeljungur hf.

On 6 December 2020 Strengur hf. made a takeover bid to the shareholders of Skeljungur hf. as provided for in Chapters X and XI of the Act No. 108/2007 on Securities Transactions, on the terms and conditions laid down in the offer document issued on that date. The offer period expired at 4:00 pm on 4 January 2021. Shareholders holding a total of 50,744,588 shares in Skeljungur hf. accepted the takeover bid, equivalent to 2.56% of the total issued shares in the company.

Strengur hf. and related parties held voting rights for 754.639.578 shares in Skeljungur, or 38.00% of the votes in the company, prior to the takeover bid and will hold 40.56% of the votes once settlement has been made or 41.6% of the votes adjusted for own shares. Arion Bank Corporate Finance and Islandsbanki Corporate Finance managed the offer process on behalf of Strengur hf. Payment will be made to those offerees who accepted the takeover bid, no later than Monday 11 January 2021.

"In an offer summary, subsequent statements to the market and at meetings of Strengur's advisors with other shareholders, Strengur has described its plans in detail. With the offer, those shareholders who did not share that vision had the opportunity to sell their shares at a premium to the price on the last trading day before the offer was made. Strengur thanks other shareholders for the trust and faith they have in the journey that has been announced, and Strengur will, by virtue of its votes, execute that vision for the benefit of all shareholders," says Jón Ásgeir Jóhannesson, Chairman of Strengur hf. and Skeljungur hf.


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