The Annual General Meeting of the Iceland Enterprise Investment Fund (EIF) was held on Wednesday, 27 May 2020.
Net profit of the year 2019 amounted to ISK 1.240 million. In year end 2019 total equity was ISK 1.696 million. Fair value of investements in year end 2019 amounted to ISK 2.468 million according to book value of same assets ISK 1.396 million. Net asset value EIF in year end 2019 was ISK 2.768 million.
A decisions was approved at the General Meeting to pay a dividend of ISK 1.600 million and reduction of shares with distrubution to shareholders ISK 1.300 million. Total payment to shareholders in year 2020 will then amount to ISK 2.900 million.
Following these payments, the Iceland Enterprise Investment Fund have paid a total of ISK 91.5 billion to shareholders from its inception and called in a total of ISK 43.3 billion. Internal Rate of Return (IRR) from inception are 22,7%.
At the meeting the members of the Board of Directors was reelected. Members of the Board are Guðrún Björg Birgisdóttir, Sveinn Hannesson and Þorkell Sigurlaugsson, the Chairman of the Board.
Gudmundur Kjartansson is CEO of the Iceland Enterprise Investment Fund.