Adjustment To ICEX Share Indices Due To Pre-emptive Right Issues

ICEX has in the past not adjusted its share indices when companies have decided to issue new shares with pre-emptive rights for existing shareholders. Such issues have been rare and not adjusting the indices has therefore been of no practical importance. After considering the matter carefully ICEX has decided to make a change in this practice consistent with the practice in many other countries.

Kaupthing Bank announced on July 6 that its Board of Directors had decided to increase its share capital by a maximum of ISK 1,101,371,280 nominal value with pre-emptive rights for the shareholders at a subscription price below the prevailing market price. ICEX has therefore recalculated the closing values for indices in which Kaupthing Bank is a member for July 6 and July 7. The recalculated values can be viewed by clicking here.