The following items on the agenda were agreed to at the Icelandair Group hf.’s shareholders' meeting on 22 May 2020:
Proposals:
- A proposal to grant the board authorization to increase the Company’s share capital
The proposal grants the board of directors’ authorization the increase the Company’s share capital. This authorization is intended for issue of new shares in a public offering with the aim of strengthening the Company’s balance sheet as a part of the Company’s actions in response to the COVID-19 pandemic.
The proposal is as stated below:
“The company’s board of directors is authorized to increase the company’s share capital by up to ISK 30,000,000,000 in nominal terms (ISK thirty billion), by issuing shares, all at once or in separate steps. The shareholders waive their pre-emptive rights to the new shares. The board of directors decides the share’s offer price and sales arrangements. Subscriptions shall take place in accordance with the Company‘s Articles of Association and Chapter V of Act No 2/1995 respecting Public Limited Companies. The new shares will be of the same share class as other outstanding shares in the Company. The new shares may be paid for by means of the set-off of indebtedness or in another manner than with cash, according to the sale arrangements set by the board of directors. The provisions of Art. 5 – 6, Art. 6 a – Art. 6 c and Art. 7 – 8 of Act No 2/1995 respecting Public Limited Companies shall apply hereto as applicable. The new shares shall provide the associated rights to the Company from the date of registration. This authorization of the board of directors shall be valid until 1 September 2020, to the extent which it has not been utilized.”