GJEB: Proposed capital issue

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The Board of Gjensidige Bank ASA has today 3 May 2017 decided to summon an Extraordinary General Meeting with a proposal to increase the share capital by NOK 195,000,000 through a private placing towards the parent company Gjensidige Bank Holding AS. Of the NOK 195,000,000 capital issue, NOK 876,000 would be share capital and NOK 194,124,000 would be allocated to share premium.

If the proposed capital issue is adopted by the Extraordinary General Meeting, article 3 in the Articles of Association will, as a consequence, be changed to:

“The Company's share capital is NOK 978,492,000 divided into 876,000 shares, each with par value NOK 1,117. The shares shall be registered in a securities register.”

The Board also decided to prepare for issuing Tier 1 and Tier 2 capital, based on authorities given by the Annual General Meeting. A transaction may follow, subject to FSA approval and market conditions.

This information is subject to disclosure under Oslo Stock Exchange's ABM rules.

Contact persons, Gjensidige Bank ASA:
Head of Treasury: Tor Egil Nedrebø, Tel: +47 406 25 367
Head of Investor Relations: Janne Flessum, Tel: +47 915 14 739

Gjensidige Bank ASA is a wholly owned subsidiary of Gjensidige Forsikring ASA through Gjensidige Bank Holding AS.