Attached is the updated Information Memorandum ("IM") regarding the upcoming offering of new shares in Icelandair Group. The IM was initially published on 18 August 2020 and an update was provided on 4 September 2020. Below is a summary of additional changes:
- Page 50: Forecasted revenues for the period 2020 – 2024 included intragroup transactions while historical figures for the period 2015 – 2019 did not. This has now been amended so the graph reflects net revenues for Icelandair Group for the whole period. This update has no impact on forecasted EBIT and cash flow. Impact on EBIT ratio is slightly positive but immaterial. Pages 55, 66, 73 and 120 have also been updated correspondently.
A shareholders’ meeting held on 9 September 2020 has granted the Company’s Board of Directors authorization to increase the Company’s share capital by up to ISK 23 billion, and issue warrants with subscription rights for up to 5.75 billion shares. The share offering will be held on Wednesday 16 September and Thursday 17 September 2020.
Attachment