New CFO, Reduction of directors fee and option plan

Reduction of Directors’ Compensation, Introduction of New Stock Option Plan, and Appointment of New CFO

Reykjavik, Iceland – May 14, 2024 – GreenBank Capital (CSE: GBC, OTCMKTS: GRNBF, and FRA: 2TL) (“GreenBank” or “the Company“) is pleased to announce the appointment of a new CFO, a reduction in directors’ remuneration, and a new share option plan.

Reduction of Directors’ Compensation and New Option Plan

The board has agreed to reduce its compensation by $1,000 per month for each director, resulting in annual savings of $60,000.

The previous stock option plan expired on February 22, 2024. The board of directors has approved a new incentive stock option plan involving 6,200,000 shares, exercisable at $0.08 each and valid for 36 months from the date of grant.

Stock Distribution:

Name Title Number of Shares
Vilhjalmur Thor Vilhjalmsson CEO 1,300,000
Steve O’Carroll COO 1,300,000
Harpa Hermannsdóttir CFO 600,000
Richard Beresford Director 1,000,000
Peter Wanner Director 1,000,000
Sir Robert Neill Director 1,000,000
Total Issued 6,200,000

Introduction of New CFO

The Company is also pleased to introduce Harpa Hermannsdóttir, M.Acc., as the new CFO. A certified accountant, Harpa brings over two decades of experience in financial and private sectors, having held senior management positions at international companies such as WoW Air and Kaupthing Bank. She has also served as a part-time lecturer at the University of Iceland. For the past five years, she has independently worked as a CFO for various companies.

Vilhjalmur Thor Vilhjalmsson, CEO and Chairman, commented, “GreenBank continues its journey to become a self-sustained investment company by reducing its expenses and aligning the directors and management with the company’s future. We are delighted to welcome Mrs. Harpa Hermannsdóttir to our team. Her experience and dedication will be invaluable assets for GreenBank.”

For further information, please contact:

Vilhjalmur Thor Vilhjalmsson,

CEO and Chairman, GreenBank Capital
Tel: +354 8697296