Completion of rights issue and capital increase
5/29/2012 2:45 AM EST
Vestjysk Bank A/S
Company Announcement
Completion of rights issue and capital increase
The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen
London Stock Exchange
Oslo Børs
29 May 2012
Completion of rights issue and capital increase
On 26 April 2012 vestjyskBANK published a prospectus in connection with a
rights issue of minimum 24,038,462 and maximum 30,644,439 new shares with
pre-emptive subscription rights for existing shareholders of the bank, see
company announcement dated 26 April 2012. As announced in the company
announcement dated 23 May 2012, the rights issue was fully subscribed.
Completion of the rights issue
The bank has now received the full subscription amount, and today the bank has
completed the rights issue and procured that the capital increase of a total
nominal amount of DKK 306,444,390 has been registered with the Danish Business
Authority.
The bank’s gross proceeds from the issue amount to DKK 318.7 million. The
aggregate net proceeds amount to approximately DKK 300.5 million after
deduction of costs for the completion of the rights issue.
The offered shares will as soon as possible be admitted to trading and official
listing on NASDAQ OMX Copenhagen A/S under the ISIN code of the bank’s existing
shares (DK0010304500), which is expected to take place on 30 May 2012.
Share capital after the rights issue
Due to the completion of the rights issue, the bank’s share capital increases
by a nominal amount of DKK 306,444,390. The total share capital of the bank now
amounts to DKK 612,888,780, divided into 61,288,878 shares of DKK 10 nominal
value each, equivalent to 61,288,878 votes. The bank’s Articles of Association
have consequently been updated and are available on the bank’s website.
Subscription by Management
A total number of 282,027 shares were subscribed for by the Supervisory Board
and the Executive Board by acquisition and exercise of pre-emptive rights
during the subscription period. For additional information on transactions, see
company announcements of 9 May 2012, 22 May 2012, 23 May 2012 and today.
Status of the capital plan
With the completion of the rights issue a material condition for the completion
of the remaining steps in the bank’s capital plan, most recently described in
the prospectus published on 26 April 2012, have now been satisfied. The bank
still expects to complete the remaining steps in the capital plan prior to 30
June 2012.
Please direct any questions regarding this announcement to Frank Kristensen,
CEO, on tel. +45 96 63 21 01 or Michael Thorup Madsen, HR & Communication
Director, on tel. +45 96 63 21 16.
vestjyskBANK
Frank Kristensen
CEO
Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark
Phone +45 96 63 20 00
CVR no. 34631328
www.vestjyskbank.dk