LBI's Financial Statements for 2018 will be made available on 22 March on LBI's website under https://www.lbi.is/financial-info. LBI will then host an investor call to present and discuss the annual financial statements on Wednesday 27 March at 14:00 Reykjavik (GMT), 14:00 London (BST) and 10:00 New York time (EDT).
Recordings of the investor call concerning the financial statements will be made available on LBI’s website after the call. Shareholders of LBI will need to register in advance to participate in the call.
On 22 January 2019, LBI settled its dispute with Kas Bank related to the closeout calculations of a GMSLA agreement which had been referred to the District Court of Reykjavik. The reported estimated recovery of LBI‘s net claims against KAS Bank at end of Q3 2018 was EUR 927.4
As a part of the settlement, KAS Bank has withdrawn its lodged Art. 113 claims against LBI with the effect that amounts allocated on escrow towards this disputed claim will be reversed to LBI. The reversals from escrow consist of EUR 910 thousand in cash (from redemption payments and DMP) and EUR 382 thousand of outstanding Convertible Notes.