Skeljungur hf.: Deadline to submit non-binding offer for Skeljungur subsidiary P/F Magn extended to next 9 June.

Last 19 May, a notice was published to the effect that the board of directors of Skeljungur hf. had decided to invite investors to submit a non-binding offer for P/F Magn, Skeljungur’s subsidiary in the Faroe Islands; the deadline to submit offers was next 4 June.

Due to increased investor interest and investors’ requests for an extended deadline, the board of Directors of Skeljungur hf. has decided to extend the deadline to submit offers for P/F Magn to next 9 June.

Offers should be submitted to Kvika Bank hf.’s Corporate Finance division, Skeljungur’s advisor. The possible sale of P/F Magn is subject to the approval of a shareholders’ meeting and other conditions that the parties may set.

It is uncertain what direction the matter will take, but further information will be provided as matters progress.

It should be noted that the above is a part of the process of assessing the advantages of future ownership of P/F Magn, as announced in a notice published last 24 March.

For further information, please contact Árni Pétur Jónsson, CEO, at fjarfestar@skeljungur.is.

www.skeljungur.is

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