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Investor Presentaiton

ISI ICELAND SEAFOOD October 2019 Main Market Listing and Offering of new shares Allocation and reductions At the end of the subscription period the Issuer will have sole discretion to decide the price at which the shares will be sold in each order book When allocating the Shares the objective of the Offering will be taken into account, i.e. encouraging increased liquidity of Shares and creating a more diverse shareholder base. In the event that the combined number of Shares of valid subscriptions exceeds the number of Shares that the Issuer has available to sell, the Issuer will allocate Shares to individual subscribers after the following reductions have been made*: • • • Order book A 1) Subscriptions in Order book A will be reduced (in part or rejected) to subscriptions with the highest price per share 2) Remaining subscriptions will be reduced by up to 75% of the original subscription o Proportional reductions will not be applied to subscriptions of a purchase value of ISK 500,000 or lower and will not result in a reduction to a value lower than ISK 500,000 3) Subscriptions will be further reduced by flat rate reductions Order book B • The main rule when allocating shares in Order book B is that subscriptions are assessed on the basis of price. Subscriptions in Order book B will be reduced (in part or rejected) so that what remains are the subscriptions received with the highest price per Share, so that the combined number of Shares (based on the final Offering. Price B) in all valid subscriptions in Order book B after reduction is equal. to the number of Shares which the Issuer decides to offer investors who have subscribed for Shares in Order book B *The Issuer reserves the right to reject individual subscriptions in Order Book A and/or B, in part or in full, for other reasons than those specified in the above rules on reductions.
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