At a shareholders’ meeting of the Iceland Enterprise Investment Fund GP ehf. (EIF), held on 19 December, a decision was approved to alter the corporate form of the company from private limited company to limited liability company. Immediately following the meeting, a shareholders’ meeting was held of the Iceland Enterprise Investment Fund slhf., where proposals were submitted for the payment of dividends and a reduction in share capital. In the course of the year the Iceland Enterprise Investment Fund realised over ISK nine billion through sales of assets. It was decided that the Company would pay out just over ISK three billion in dividends to shareholders and that the Company’s share capital should be reduced by just under ISK six billion, with a corresponding amount paid out to shareholders. The Company’s shareholders therefore received in payment a total of just short of ISK nine billion from the realisation of the Fund’s assets.

The board of directors of FSÍ GP. was re-elected, with some changes having occurred in the composition of the board of directors following the last Annual General Meeting.

Board of Directors of the Iceland Enterprise Investment Fund, 2012-2013

                 Thorkell Sigurlaugsson, Executive Director of Financial and Real Estate Management, University of Reykjavik (Chairman)

                 Baldur Thor Vilhjalmsson, Head of Asset Management, The Pension Fund, LSR.

                 Helga Árnadóttir, Executive Director, VR (Vice-Chairman)

                 Hjörleifur Pálsson, Chief Financial Officer, Össur

                 Hreiðar Bjarnason, Head of Finance, Landsbanki

                 Linda Jónsdóttir, Head of Finance and Treasury, Marel.

                 Sveinn Hannesson, Chief Executive Officer, Gámathjónustan hf.

 Alternate members are the following:

                Sigurbjörn Sigurbjörnsson, Executive Director, the General Pension and Insurance Fund

                Helga Indridadóttir, Analyst, Almenni Pension Fund

                Jensína Bödvarsdóttir, Head of Development, Landsbanki.

The Chief Executive Officer of the EIF is: Brynjólfur Bjarnason