Resolutions by the bank's Supervisory Committee regarding issues; first day of listing excluding subscription rights is 21 October 2009
It appears to the stock exchange announcement of 1 October 2009 regarding the convening of the meeting in the bank's Supervisory Committee and the Board's proposals for issues of equity certificates.
The bank's Supervisory Committee has in meeting on 20 October 2009 adopted the Board's proposal:
The bank's Supervisory Committee has in meeting on 20 October 2009 adopted the Board's proposal:
1) private placement to Gjensidige Forsikring BA through the issuance of 18,735,363 equity certificates of subscription price of NOK 42.55
2) public rights issue of 9,450,870 equity certificates at a subscription price NOK 35,- per equity certificate
3) private placement to Gjensidige BA through the issuance of 1,977,702 equity certificates at a subscription price NOK 35,- per equity certificate
4) private placement to the bank's employees of up to 2,571,428 equity certificates at a subscription price NOK 35,- per equity certificate.
Gross proceeds of these issues will be minimum NOK 1,197,189,7541 and a maximum of NOK 1,287,189,741. In total it will be issued a minimum of 30,163,936 equity certificates and a maximum of 32,735,363 equity certificates.
Kredittilsynet has in a letter of 20 October 2009 announced that they will be able to approve the private placing to Gjensidige on the condition that it will be transferred NOK 20 million to the compensation fund. SpareBank 1 SR-Bank has assumed that in its decision. The bank's Supervisory Committee has given the Board authority to be able to appeal against Kredittilsynet's decision by the Public Administration Act provisions.
The private placement towards Gjensidige BA is conditional on being granted such a permit after the Financial Institutions Act § 2b-17 cf. § § 2 .2 et seq to own more than 10% of the equity evidence in the bank.
Gross proceeds of these issues will be minimum NOK 1,197,189,7541 and a maximum of NOK 1,287,189,741. In total it will be issued a minimum of 30,163,936 equity certificates and a maximum of 32,735,363 equity certificates.
Kredittilsynet has in a letter of 20 October 2009 announced that they will be able to approve the private placing to Gjensidige on the condition that it will be transferred NOK 20 million to the compensation fund. SpareBank 1 SR-Bank has assumed that in its decision. The bank's Supervisory Committee has given the Board authority to be able to appeal against Kredittilsynet's decision by the Public Administration Act provisions.
The private placement towards Gjensidige BA is conditional on being granted such a permit after the Financial Institutions Act § 2b-17 cf. § § 2 .2 et seq to own more than 10% of the equity evidence in the bank.
Owners by the end of 20 October will be granted subscription rights. First day of listing excluding the subscription rights is 21 October 2009.
The schedule for the rights issue and placement of employees expected to be as follows:
The schedule for the rights issue and placement of employees expected to be as follows:
| First day of listing excluding subscription rights and excluding dividend:......................................................................................... | 21 October 2009 |
| Subscription rights allocated to the equity certificate owner's VPS account: | 28 October 2009 |
| | |
| First day of the subscription period: | 28 October 2009 |
| Last day of the subscription period: | 11 November 2009 |
| Allocation and issue of allocation letter:............................................ | 17 November 2009 |
| Payment by automatic debit of account: | 20 November 2009 |
| Registration in the Brønnøysund Register Centre | approx. 26 November 2009 |
| Issuance of new equity certificates:.................................................. | approx. 27 November 2009 |
| Listing of the new equity certificates:................................................ | approx. 27 November 2009 |
The bank's Supervisory Committee decisions regarding the issues are appended (in Norwegian).
Moreover, the bank's Supervisory Committee in the meeting on 20 October 2009 adopted the Board's proposal regarding:
1) Authorization of issuance of hybrids (fund bonds) and subordinated loans
2) Tor Magne Lønnum elected as new board member until the next ordinary election of
Board members
3) Helge Leiro Baastad elected as an observer of the Election Committee until the next annual
election of Election Committee members / observer
4) appoint a committee to study proposals for any articles of association changes as a result
of the new regulations, to be presented the bank's Supervisory Committee meeting in March 2010.
Moreover, the bank's Supervisory Committee in the meeting on 20 October 2009 adopted the Board's proposal regarding:
1) Authorization of issuance of hybrids (fund bonds) and subordinated loans
2) Tor Magne Lønnum elected as new board member until the next ordinary election of
Board members
3) Helge Leiro Baastad elected as an observer of the Election Committee until the next annual
election of Election Committee members / observer
4) appoint a committee to study proposals for any articles of association changes as a result
of the new regulations, to be presented the bank's Supervisory Committee meeting in March 2010.
Contact persons at SpareBank 1 SR-Bank:
Director SR-Markets Stian Helgøy, +47 906 52 173
Investor Relations manager Kyrre M. Knudsen, tlf +47 938 83 518
Group Communications Director, Thor-Christian Haugland, tel. +47 480 31633