Issued Share Capital History

The issued share capital of the Company is DKK 48,858,065 comprising of 48,858,065 Shares fully paid with a par value of DKK 1 and issued in accordance with Faroese law.

The Shares of the Company may be freely transferred. No shares have any special rights. No restrictions apply with regard to sale or any other transition of shares.

The Shares are registered in the VPS which maintains the Company's share register.

The Shares are registered with ISIN NO: FO0000000179.

The Share registry of the company is kept by Nordea Bank Norge ASA.

The Shares of the company are registered in the share registry by name.

The Shares are equal in all respects and each Share carry one vote at the Company's general meeting.

Year Type of Change in Share Capital Change in Issued Share Capital Change in Number of Shares Par Value Per Share Total Issued Share Capital Total Number of Issued Shares Following  Change
2007 IB 1. Jan     DKK 1,000 - 1,000,000 2,991,789 67
2010 Change Nominal Value     1 2,991,789 2,991,789
2010 Issue Merger 972,064 972,064 1 3,963,853 3,963,853
2010 Equity Issue / Share Split 42,286,147 42,286,147 1 46,250,000 46,250,000
2010 Share issued 2,608,065 2,608,065 1 48,858,065 48,858,065