The Board of Directors of Skeljungur hf. approved a new organization chart for the Company on the recommendation of the CEO. The objective of the structural change is to streamline the Company’s operation, shorten lines of communication and improve operational efficiency. In addition, the change is a response to the Company’s current operating environment. The principal changes are that functions are shifted between divisions, with the effect that the number of positions with the company will be reduced by 20; the changes involve all the divisions of the Company. The cost of the changes is estimated at 100 million ISK, which will be charged to the first quarter of the year.