The board of directors of Icelandic fishing giant HB Grandi is planning to submit at its mid-August meeting a proposal for changing the company's name and trademark.

The company plans to change its name to Brim, and its trademark to Brim Seafood, a name that underlines its new emphasis to actively engage in sales and marketing in international markets, HB Grandi said Thursday.

In addition, the acquisition approved by the board of three sales firms in Asia and a trade firm in Iceland will also be submitted for shareholder approval at the same upcoming meeting in August.