Aktia Group has agreed on divestment of its ownership in Bank of Åland Plc

Stock Exchange Release 13 September 2011 at  4.50 pm

Aktia plc, Aktia Bank plc and HSb-Finance Ltd have today entered into an agreement to divest their direct ownership, amounting to a value of approx. EUR 18.8 million, in Bank of Åland Plc to Wiklöf Holding Ab. At the same time, Aktia plc has agreed to divest its indirect ownership in Bank of Åland, amounting to a value of approx. EUR 3.4 million, by selling the company's share of ownership in five associated companies owned with equal holding as Wiklöf Holding Ab and Föreningen Konstsamfundet r.f. Buyers are Wiklöf Holding Ab and Föreningen Konstsamfundet r.f.

Aktia Group's direct ownership before the transactions amounts to 10.22 % of shares and 4.24 % of votes in Bank of Åland Plc.

The valuation of Aktia's ownership in Bank of Åland Plc has continuously been made via the fund at fair value. Thus the transactions have no impact on the Group's shareholders' equity, but they have a negative effect on the result of EUR 6.3 million before tax.

Aktia has been a large shareholder of Bank of Åland Plc for a long time. From the start, our ownership has been of a strategic nature, in order to explore ways to deepen co-operation between the two companies. Despite common efforts, we have not succeeded in finding satisfactory ways of co-operation. Therefore, we have now decided it's time to let go of our strategic ownership in Bank of Åland Plc, says Jussi Laitinen, Managing Director of Aktia plc.

Implementation of the agreements is subject to the Finnish Financial Supervisory Authority's approval of the transactions.

 

AKTIA PLC

 

For more information, please contact:
Jussi Laitinen, Managing Director of Aktia plc, tel. +358 10 247 6210

From:
Göran Stenberg, Head of Communications, tel. +358 10 247 6590


Distribution:
NASDAQ OMX Helsinki Ltd
Financial Supervisory Authority
Mass media
www.aktia.fi 

         Göran Stenberg, Head of Communications, tel. +358 10 247 6590