Non-binding offers received for P/F Magn,

Last 9 June a notice was published to the effect that the deadline for submitting non-binding offers for P/F Magn had expired and that Skeljungur, together with its advisers, would review the offers received to assess their terms and reservations.

Skeljungur, together with its advisers, has now reviewed the offers received, and its board of directors has decided to enter into negotiations with selected bidders.

This process may lead to the sale of P/F Magn. The potential sale of P/F Magn is subject to the approval of a shareholders’ meeting and other conditions that the parties may set.

It should be noted that the above is a part of the process of assessing the advantages of future ownership of P/F Magn, as announced in a notice published last 24 March.

For further information, please contact Árni Pétur Jónsson, CEO [email protected]

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