SpareBank 1 Nord-Norge - Approved prospectus and start of subscription period
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN
The Financial Supervisory Authority of Norway has today approved the prospectus in connection with (i) an underwritten rights offering of 33,104,494 new equity certificates at a subscription price of NOK 22.65 per equity certificate and (ii) an employee offering of up to 1,428,571 equity certificates at a subscription price of NOK 21.00 per equity certificate.
In connection with the rights offering, underwriting agreements have been entered into with SpareBank 1 SR-Bank, SpareBank 1 SMN, Sparebanken Hedmark, Samarbeidende Sparebanker AS, Sparebankstiftelsen SpareBank 1 Nord-Norge and other underwriters amongst the bank's largest existing equity certificate holders. The underwriters guarantee that all equity certificates in the rights offering are subscribed for, but not for the payment of subscribed and allocated equity certificates. Reference is made to section 4.2.12 of the prospectus for further information about the underwriting consortium.
Equity certificate holders in SpareBank 1 Nord-Norge per 9 September 2013 will receive 0.5 subscription rights for each existing equity certificate, rounded down to the nearest whole subscription right. One subscription right will entitle the holder to subscribe for and be allocated one new equity certificate. Oversubscription and subscription without subscription rights is allowed.
Equity certificate holders in SpareBank 1 Nord-Norge as of 9 September 2013, as registered as holders of equity certificates in the savings bank's register of equity certificate holders in the VPS as of 12 September 2013, will be allocated subscription rights. The new equity certificates may be subscribed by investors who are not resident in a jurisdiction where such offering would be unlawful, or in jurisdictions other than Norway which would require any filing, registration or similar action. See further information in the prospectus under "Viktig information" and section 4.2.7.
The subscription rights will be fully tradable and listed on the Oslo Stock Exchange with the ticker NONG T during the subscription period. The subscription rights are expected to have an economical value. Subscription rights which are not used to subscribe for new equity certificates or not sold before the end of the subscription period, will lapse without compensation and consequently be of no value.
The subscription period will commence on 13 September 2013 at 09:00 hours (CET) and end on 27 September 2013 at 16:30 hours (CET).
For complete information about the rights offering and the employee offering, including information about risk factors, please see the prospectus.
The prospectus will be available on the bank's and the managers' web sites: www.snn.no, www.arcticsec.no and www.sb1markets.no. The printed prospectus may be obtained by contacting SpareBank 1 Nord-Norge or one of the managers.
Arctic Securities, SpareBank 1 Markets and SpareBank 1 Nord-Norge Markets are Joint Bookrunners in the rights offering and the employee offering.
Tromsø, 12 September 2013
Contact persons at SpareBank 1 Nord-Norge:
CEO Jan-Frode Janson; mob. +47 909 75 183
CFO Rolf Eigil Bygdnes; mob. +47 905 19 774
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act