Results of Shareholders' Meeting

The following items on the agenda were agreed to at the Icelandair Group hf Shareholders'  meeting on 24 April 2019:

Proposals:

1. A proposal to grant the board authorisation to increase the Company’s share capital in relation to a subscription agreement made with Par Capital Management Inc. and affiliates

The proposal will grant the board of directors authorisation to increase the Company’s share capital. This authorisation is intended for issue of new shares in relation to a subscription agreement made with Par Capital Management Inc. and a co-investor.

The proposal is as stated below:

“The company’s board of directors is authorised to increase the company’s share capital by up to ISK 625,000,000 in nominal terms (ISK six hundred twenty five million), by issuing new shares. The share price shall be according to the subscription agreement made with PAR Capital Management Inc. and affiliates (9,03 per share). The new shares will be of the same share class as other outstanding shares in the Company. The shareholders waive their pre-emptive rights to the new shares. The new shares shall provide the associated rights to the Company from the date of registration. This authorisation of the board of directors shall be valid until 1 December 2019, to the extent which it has not been utilised.”

2. Changes to the Company’s Articles of Association

The following changes will be made immediately to the Articles of Association of the Company:

Article 15.1 shall be removed.

Attached are the minutes from the meeting.

For further information please contact:
Bogi Nils Bogason; [email protected]; telephone +354 505 0300

Attachment

• Icelandair-Group-hf-Minutes-from-the-Shareholders-Meeting-24.04.2019 (1)