At a shareholders' meeting Icelandair Group hf. on November 30, 2018, a proposal to authorize the Board to increase share capital by up to 625 million nominal value. The Board has decided not to exercise its right to hold an auction in December 2018 up to 499 million nominal value, see. the first point of the proposal adopted at the meeting. Instead, the aim is one issue, with priority arrangements, where there will be shares with a nominal value of up to 625 million by the end of the first quarter of 2019. On the eve of the auction will be published description. The Board will determine the size of the offer, the offer price, terms of payment of the new shares and other terms of the offer.
The purpose of Icelandair Group the share capital is to further strengthen the balance sheet to be positioned to grow and seize opportunities that may arise in the current environment the company will be provided with six new Boeing MAX planes in 2019. There is no need for additional capital carried out for the current calendar year compared to the assumptions underlying the operations and financial position and presented at the recent meeting. With the proposed project is expected to be greater certainty shall reign competitive company as well as the time is available to provide more information to shareholders prior to the offering.