The Shareholders` meetings of Burdarás, Landsbanki Íslands and Straumur Investment Bank have agreed on a motion to merge Burdarás, on the one hand, with Landsbanki Íslands and, on the other hand, with Straumur-Burdarás Investment Bank.
Following the approval of the Icelandic Financial Supervisory Authority and the Icelandic Competition Authority of the merger, all of Burdarás assets will be transferred either to Landsbanki Íslands or Straumur-Burdarás Investment Bank. Burdarás` 1,648,000 shares in Artumas Group Inc., representing 9.44% of the shares and votes in the Company, will be transferred to Straumur-Burdarás Investment Bank.