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24.07.2019

Shareholders meeting to be held August 15

A shareholders meeting of HB Grandi will be held on August 15 2019 to confirm two decisions made by the board of directors. Firstly, to buy seafood sales companies in Asia and secondly, to change the company´s article 1.1. in order to change the name of the company to Brim hf.

Purchasing of sales companies

On July 12 2019, HB Grandi and Útgerðarfélag Reykjavíkur signed a sales agreement where HB Grand buys all shares in seafood sales companies in Japan, Hong Kong and on the continent of China. The purchasing price is 31.1 million euros and will be paid by new shares in the company. A total of 133.751.606 shares will be issued or an increase of 7.3%. The sales agreement is conditioned to approvals of the boards of directors of HB Grandi and a shareholders meeting. The board of directors approved the agreement July 18 2019.

The purpose of buying the companies is to strengthen the position of HB Grandi and the Icelandic seafood industry in important and rapidly growing markets in Asia. These companies have been operating for twenty years or since 1989.

Changing the name to Brim hf.

On July 18 2019 the board of directors of HB Grandi decided to propose to a shareholders meeting to change the name of the company to Brim hf.

The view of the board of directors is that the new name and brand will serve well the purpose of the company which is to market and sell to valuable markets the seafood products that the company catches and processes. The name HB Grandi is 15 years old and reflects a merger of two companies, Haraldur Böðvarsson and Grandi. The changes are underlining the company´s greater commitment to international marketing and sales operations as indicated by the buying of the sales companies in Asia.

The name Brim and the trademark Brim Seafood are simple and easy to pronounce and are already known on international seafood markets. The logo symbolizes three waves as well as forming the shape of a fish which is the company´s main product. The blue colour represents the sea and the silver is a reference to the valuables of the ocean harnessed by Brim.