DNB ASA initiating share buy-back programme

DNB ASA has decided to initiate a new share buy-back programme. Similarly to the share buy-back programme completed by DNB ASA on 8 December 2017, the new share buy-back programme would also comprise up to 0.5% of its registered shares, representing a total of approximately 8.1 million shares.

The share buy-back programme will be carried out on the basis of the authorization given by DNB ASA’s annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5% of its registered shares for purposes of enabling an optimal level of capital in the company. Based on the authorization, DNB ASA has completed two share buy-back programmes in 2017 in which a total of 16 287 982 shares shall be redeemed by the general meeting.

Under the new share buy-back programme, up to approximately 5.4 million of the shares comprised by the share buy-back programme will be repurchased in the open market. In addition, a proportionate amount of the shares owned by the state of Norway through the Ministry of Trade, Industry and Fisheries will be redeemed, in accordance with an agreement between DNB ASA and the state of Norway. The redemption of the shares owned by the state of Norway is subject to approval from DNB ASA’s annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34.00% remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway. The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA’s repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any).

For further information, DNB ASA refers to the minutes from DNB ASA’s annual general meeting of 25 April 2017, available at www.dnb.no.

For further information, please contact:

Investor contacts:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. ( 47) 23 26 84 08 / ( 47) 977 35 378

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act. This e-mail was sent to you by DNB. To unsubscribe from our mailing list, please visit www.dnb.no/en/ir

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