News

The Icelandic National Broadcasting Service (RÚV) reported yesterday on an ongoing investigation in Norway into the business practices of the Norwegian bank DNB. Companies affiliated with Samherji were wrongfully made the main focus of this coverage. RÚV also repeated falsehoods concerning the company Cape Cod FS.

The Central Bank of Iceland has given Samherji access to all email communications between the then Director-General of the Central Bank of Iceland's Capital Controls Surveillance Unit and a reporter at The Icelandic National Broadcasting Service (RÚV) in the run-up to a search of premises at Samherji's offices on March 27, 2012. Samherji has now published these emails for the first time.
• The reporter and the former director of the Capital Controls Surveillance Unit exchanged twenty emails over a five-week period before a search of premises was conducted at Samherji's offices.
• The Central Bank gave a false statement to the Reykjavik District Court in 2015 that no communication had taken place with the media in the run-up to the raid.
• RÚV's primary source withdrew accusations towards Samherji three weeks before the raid and a TV-program where accusations towards Samherji aired for the first time. Nevertheless, both the Central Bank and RÚV made assertions about abnormally low prices and under-pricing.
• The Director-General of RÚV refused Samherji access to the emails with reference to legal provisions for the protection of journalist's sources.
• The Central Bank hinted that the extent of the possible breach of the capital controls amounted to billions ISK when in fact it concerned a transaction of ISK 25 million.

Today it was reported that the Norwegian bank DNB might receive a fine from the Norwegian supervisory body Finanstilsynet. Samherji has no knowledge of this potential fine beyond what may be read in the media. Although this fine has been associated with Samherji's business with DNB, there is no mention of Samherji or affiliated companies in DNB's announcement regarding the fine, and there is no indication that the possible fine is due to DNB's relationship with Samherji.

The Namibian authorities have made no efforts to interfere with current or former employees of companies affiliated with Samherji. Neither by its own initiative nor through co-operation with other countries. News coverage that the Namibian authorities want to talk to some of Samherji's current and former employees is therefore very misleading.

The Icelandic National Broadcasting Service (RÚV) reported yesterday that Namibian law enforcement authorities had been trying for some time to gather information on the whereabouts of two named employees of companies affiliated with Samherji to get them extradited to Namibia. The story is based on an affidavit by a Namibian police officer before a local court. In addition, several current and former employees were named in the report.

The Icelandic National Broadcasting Service (RÚV) confused the terms profit and turnover in recent news coverage about the seizure of assets of companies affiliated with Samherji in Namibia. The seizure of the most valuable asset, the trawler Heinaste, has now been lifted and the trawler has been sold to the Namibian fishing company Tunacor Fisheries.

In recent months, efforts have been made to complete closure of operations by Samherji-affiliated companies in Namibia. This has been done in close consultation with the Namibian authorities. Part of the work involved the seizure of the trawler Heinaste. The seizure has now been lifted after The Prosecutor-General of Namibia signed a letter to that effect yesterday, which meant the sale of the ship could be finalized. Other insignificant assets in Namibia are still under seizure, but issues related to that will be resolved in the coming months in close consultation with the authorities.

Samherji has invested in a pelagic vessel and is in the process of converting the vessel for groundfish fishing, where it will be possible to pump fish on board and store it alive in specially equipped tanks. This arrangement offers much more flexibility in the handling of the catch and better control of workload on board and in processing on land.

Samherji, a leader in the European seafood industry, has entered into an agreement to acquire a 50% stake in Boston-based Aquanor Marketing, Inc., a premier importer, distributor and marketer of the finest quality fresh seafood.

Samherji Holding ehf., a company affiliated with Samherji hf., today increased its share in Eimskipafélag Íslands hf. (Eimskip) by 0.29% and currently owns 30.28% of the company's share capital after the transaction. Samherji Holding now intends to make an offer to other shareholders in Eimskip for their shares as required by law.

Norðurál, a subsidiary of Century Aluminum, and Samherji Fish Farming, the aquaculture operation of the Samherji group, have signed a letter of intent in connection with the purchase of Norðurál's assets in Helguvík in the Reykjanes Peninsula. Samherji Fish Farming is currently exploring the possibility of salmon farming on the site.

After Norwegian law firm Wikborg Rein finalized its investigation, into the activities of companies affiliated with Samherji in Namibia on July 28th and presented its findings to Samherji's board, the company has in various ways corrected and refuted allegations that have been made against it.