News

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.

Eyrir Invest ehf. has today decided to increase share capital in the company by approximately 10% by issuing 101 million new shares at a price of ISK 24.25 per share. After the issue the company's total share capital will be ISK 1,108,681,220 nominal value. All new shares will be purchased by Lífeyrissjóður verzlunarmanna (The Pension Fund of Commerce).

The new share capital will substantially increase the investment capacity of Eyrir Invest. In tandem with the issue Eyrir has founded an independent investment company for venture capital investments, 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 provide backing for industrial firms to expand internationally. Eyrir is the core investor in the food processing equipment manufacturer Marel hf. with a 36% shareholding. In addition, it owns 17% in Stork BV, which owns and operates Stork Technical Services and Fokker Technologies. Eyrir has also supported other outstanding companies, such as the hi-tech orthopaedics developer Össur, in their international growth strategies. Increasing the company's financial capacity and the founding of Eyrir sprotar will create new opportunities for continued investment in companies with good growth and value-creation potential."

The investment by Lífeyrissjóður verzlunarmanna is an important step towards broadening Eyrir's shareholder base.  The founders and core shareholders of Eyrir, Þórður Magnússon and Árni Oddur Þórðarson, hold a combined stake of 34% following the new issue.

As a consequence of the investment by Lífeyrissjóður verzlunarmanna a shareholders' meeting of Eyrir will be held on 10 January 2012 where the Board of Directors will present a motion to remove all restrictions on transfer of shares.