Merger of Icelandic Group Plc. and Sjovik/Blue Ice Group

This transaction is subject to due diligence by both parties. Once the merger is finalized, the seafood companies will come under the name of Icelandic Group. The objective of the merger is to combine the strengths of the two companies in the U.S. and Asia markets. The merger will result in various potentials for improved efficiency in the manufacture and sale of seafood products in these markets. The current shareholders of Sjovik/Blue Ice Group will hold 33% of the shares in Icelandic

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