Gjensidige Bank ASA: Increased share capital

The general assembly of Gjensidige Bank ASA resolved at 24 May 2013 to increase the share capital from NOK 876,000,000 by NOK 87,600,000 to NOK 963,600,000.

The increase was carried out as a private placing towards the parent company Gjensidige Bank Holding AS, which paid a consideration of NOK 303.65 per share, totalling NOK 266,000,028. The excess proceeds of NOK 178,400,028 have been transferred to the share premium account.

The share capital increase is a direct result of growth and altered regulatory capital requirements.

Head of Treasury, Tor Egil Nedrebø,  47 40 62 53 67

Gjensidige is a leading Nordic insurance group built by customers, for customers. The Group has been listed on the Oslo Stock Exchange since 2010. For nearly 200 years, we have worked passionately to secure the lives, health and assets of our customers. We have about 3,100 employees and offer insurance products in Norway, Denmark, Sweden and the Baltic states. In Norway, we also offer banking, pension and savings. Gjensidige Bank, which is a wholly-owned subsidiary of Gjensidige Forsikring ASA, offers electronic distribution of day-to-day banking services and consumer financing. The Group’s operating income was NOK 19.5 billion in 2011, while total assets was NOK 94.2 billion.