News Announcement from United Silicon hf.

Suspicion of criminal conduct of the former CEO and founder of United Silicon

The Board of Directors of United Silicon, in consultation with the company’s attorney and Appointee in moratorium, sent a formal complaint to the Office of the District Prosecutor concerning the possible criminal conduct of the former CEO and founder of United Silicon.

The complaint is based on suspicion of large-scale embezzlement and forgery, extending as far back as 2014, and is submitted in consultation with other stakeholders. The details which have now come to light are the results of work on restructuring the company, which has been under the management of a new Board of Directors since February. The suspect has had no involvement in the company’s operations or management since March. Company management will co-operate with the authorities to facilitate the rapid investigation of the case.

The case has been reviewed with employees of United Silicon and the situation explained to them.

For further information contact Karen Kjartansdóttir, spokesperson for United Silicon, tel. +354 692 9797.