Festi hf.: Capital Increase

On 10 July 2024 the closing between Festi and SID ehf. occurred regarding Festi's acquisition of all shares in Lyfja hf. In connection with this closing, the board of directors of Festi has resolved to exercise its authorization under Article 5, Paragraph 5 of the company's articles of association to increase the company’s share capital in order to partially pay the purchase price in the aforementioned transaction by issuing new shares in the company to SID ehf. As a result, the company’s share capital will be increased by 10,000,000 shares, bringing the total nominal value to ISK 311,500,000 after the increase. Each share has a nominal value of one ISK, and each share carries one vote.

The capital increase will be notified to and registered by the Icelandic Company Registration, and the new shares will be issued by the Nasdaq Central Securities Depository and will be applied for listing on the Main Market of Nasdaq Iceland.

For further information, please contact Ásta S. Fjeldsted, CEO of Festi - asta@festi.is or Magnús Kr. Ingason, CFO of Festi - mki@festi.is