Atlantic Airways P/F - Niðurstöður hluthafafunda

Result of Extraordinary General Meeting 31 March 2014

1. Christian F. Andreasen was elected chairman of the Extraordinary General
Meeting. 

2. The following proposal from the Board of Directors was approved:

“A proposal from the Board of Directors that the company shall be authorized to
purchase own shares from the shareholders of the company, apart from shares
owned by the Ministry of Trade and Industry, with whom the company is acting in
concert, at a rate of DKK 210 per share, or ISK 4,403.28, per share, which at
the same time is the maximum and minimum payment, for which the company may
purchase own shares. The authorization to purchase own shares shall be valid
for a maximum of one year from 31 March 2014 and the authorization shall
therefore expire on 31 March 2015. The Board of Directors may as a minimum
purchase 24 % of the entire share capital of the company and may as a maximum
purchase 31.93 % of the entire share capital of the company.”