SKEL fjárfestingafélag hf.: Completion of the purchase of shares in Samkaup

Reference is made to the press releases dated May 22, June 3, June 16, and July 15, 2025, announcing that certain conditions in the share purchase agreement had been fulfilled concerning Orkan IS ehf.’s (“Orkan”) acquisition of share capital in Samkaup hf. (“Samkaup”). Today, the companies Samkaup and Atlaga ehf. (formerly Heimkaup) were formally merged. Concurrently, the settlement of Orkan’s share purchase agreement with the former shareholders of Samkaup was finalized. The shareholders of Samkaup received 582,548,510 shares in Drangar hf. (“Drangar”), representing a 28.7% equity stake, in exchange for a 98.6% shareholding in Samkaup. Following the settlement, the remaining shareholders of Samkaup are offered the opportunity to sell their shares on the same terms in exchange for shares in Drangar. Additionally, Drangar is entitled to initiate a compulsory redemption of the remaining shares in Samkaup in accordance with the provisions of the Companies Act.