The President and CEO of Ossur hf. and certain members of the
executive management team have sold most of their shares in the
Company, in total 23,441,801 shares representing 5.6% of the total
share capital of the Company. Most of the shares were originally
acquired on the stock market and financed to some degree with loans.
The shares are now sold to settle those debts. Ossur hf. or other
shareholders have never provided the management with any loans or
The shares were sold to the Danish Investment Company William Dement
Invest A/S. William Dement Invest has been Ossur's largest
shareholder from the year 2005. With the purchase its share of the
total share capital increases from 34.3% to 39.9%.
These changes in ownership do not lead to an obligation to make a
takeover bid for the shares of other shareholders, as the newly
passed amendments to the takeover rules in the Act on Securities
Transactions have not formally taken effect.
No changes are expected to incur in Ossur hf.'s operations, neither
in Iceland or elsewhere, following these transactions.
Jón Sigurdsson the President and CEO of Ossur hf.: "We deeply regret
having to sell these shares in the Company, but have to accept the
fact we do not have the financial strength to hold onto them. Ossur
hf. is a sound and financially strong company. The focus has always
been equally on growth and profit, a sound strategy, securely
positioning the Company financially in todays troubled markets. "