During the first exercise period under the share option plan for employees of the Festi Group, which was approved at the Annual General Meeting on March 6, 2024,a total of 1,048,552 share options were exercised in the Company. . The exercise price was ISK 187 per share (adjusted for dividends paid since the conclusion of the share option agreements), amounting to a total payment of ISK 196,079,224.
In connection with the settlement, 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 meet its obligations under the aforementioned share option agreements. As a result, the Company’s share capital will be increased by 1,048,552 shares, bringing the total nominal value to ISK 312,548,552 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 – [email protected] and Magnús Kr. Ingason, CFO of Festi – [email protected].
