All shares in the company will be written down for sale to a new investor if, as expected, the company’s board vote for the move within the next week.
The shareholding exodus will be led by Icelandic, which owns 33 percent of the company. A €1.6 million ($2.3 million) subordinated loan made in 2006 will be written off, as Icelandic Group lent some relief to the troubled company.
“After the present proposal all the shares will be written down to sale, both from Icelandic Group and other shareholders,” Maru CEO Johan Pall Joensen told IntraFish.
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