Atorka Group hf. - Company Announcement

Atorka plans to work with its assets

Atorka has been in discussion with its creditors for the past months as part of
its financial restructuring. Third party advisors were hired to evaluate
possible future value Atorka‘s investment. The conclusion is that working with
Atorka‘s assets for the next few years will maximize their value. In the past
months Atorka‘s equity has evolved to be negative.  In relation to that the
creditors of Atorka will demand that current equity will be written off
parallel their takeover of the company with composition settlement. 


Further information is available from Garðar Gíslason, Atorka‘s Attorney tel.
+354-896-2668