Investor News

Marel Food Systems hf.’s share offering ended on Friday, 6 June 2008. Participation was good and in total there were 446 subscriptions with sales value of ISK 14,893,950,640 or 167,347,760 shares. This equals 7% oversubscription. The Board of Directors of Marel Food Systems hf. decided not to use its authorization to increase the number of shares on offer and the share increase will therefore be 156,440,000 shares.

After having evaluated the subscriptions received Marel Food Systems hf.’s Board of Directors decided to allot new shares to shareholders and professional investors in accordance with their subscriptions, although Landsbanki Íslands hf., the second largest shareholder in the company prior to the share offering, is percentage wise reducing its shareholding in Marel Food Systems hf. The Board of Directors’ intention among other was to contribute to a broader shareholding base as well as increasing the floating of the company’s shares.
According to Hörður Arnarson, CEO of Marel Food Systems hf., the conclusion of the share offering marks the end of Marel Food Systems hf.’s financing of the acquisition of Stork Food Systems. “Marel Food Systems is very appreciative towards investors for the support they have shown the company in this share offering as well as in previous offerings. During the last two years Marel Food Systems hf. has raised over ISK 34 billion with the sale of new shares and bonds, during a period of strong external growth, but now we expect an era of internal growth and increase in profits” said Hörður Arnarson.