FSA APPROVAL OF SHARE CAPITAL REDUCTION AND NEW SHARE BUY-BACK

Approval of share capital reduction:

In accordance with the purpose of the buy-back programme carried out between the annual general meetings in 2017 and 2018 respectively, the annual general meeting of DNB ASA held on 24 April 2018 resolved a reduction in the company’s share capital of NOK 244,319,730, from NOK 16,287,988,610 to NOK 16,043,668,880, by deletion or redemption of a total of 24,431,973 shares.

The Norwegian FSA has now approved the capital reduction, which will be notified to the Norwegian register of business enterprises within a short time. This will trigger a six week creditor notice period, after which the capital reduction may be completed, provided that relations with creditors having made objections (if any), have been clarified.  

Approval of new share buy-back:

In the annual general meeting held 24 April 2018, it was also resolved to grant the board of directors of DNB Bank ASA with a new authorization to repurchase shares. The authorization has a limit of 4.0 per cent of the share capital calculated after completion of the already resolved capital reduction, whereof 0.5 per cent can only be used for hedging purposes in DNB Markets.

Following the general meeting, DNB applied for the Norwegian FSA’s approval to buy back own shares up to 2.5 per cent of the limit granted by the general meeting, whereof 0.5 will be reserved for hedging purposes.  The FSA has approved DNBs application to buy back shares in accordance with the request, provided that the targeted capital level is met following the repurchase. 

For further information, please contact:

Investor contact:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250