SpareBank 1 SMN :Resolutions of the Supervisory Board of SpareBank 1 SMN
(Thomson Reuters ONE) -
Not for release, publication or distribution in the United States, Canada,
Australia or Japan.
At its meetings on 6 March 2012 the Supervisory Board adopted decisions
concerning adoption of the final accounts for 2011, increase of equity
certificate capital, transfer from nominal equity certificate capital to the
savings bank's surplus fund and acquisition and establishment of security
interest in the Bank's own equity capital certificates.
Accounts for 2011 - distribution of profit
The Supervisory Board resolved that the annual accounts with additional
information be adopted as the bank's annual accounts for 2011, and that the
profit for the year of NOK 795 million be distributed as follows:
Dividends on ECCs (NOK 2.00 per ECC) NOK
190 million
Transferred to dividend equalisation fund
NOK 297 million
Transferred to ownerless capital NOK 268
million
Allocation to charitable purposes
NOK 40 million
Increase of equity certificate capital
The Supervisory Board of SpareBank 1 SMN resolved the Board of Directors'
proposed terms for the rights offering and the employee offering, however so
that the board members will not be invited to participate in the employee
offering. The equity certificates will be traded exclusive of dividend and
rights to receive subscription rights from and including 7 March 2012.
The Board of Directors proposed terms are described in the stock exchange notice
dated 6 March 2012. See further details in the prospectus for the rights
offering and employee offering which is expected to be released on or about 8
March 2012.
Authorisation of the board of directors to increase the nominal equity
certificate capital
The Supervisory board adopted the Board of Directors' proposal and authorise the
Board of directors to increase the nominal equity certificate capital with up to
NOK 200 million through the issuance of up to 10 million new equity certificates
at market price.
Transfer from the nominal equity certificate capital to the surplus fund
The Supervisory board adopted reduction of the nominal equity certificate
capital with NOK 474,651,430 from NOK 2,373,257,150 to NOK 1,898,605,720 by
changing the nominal value per equity certificate from NOK 25 to NOK 20, and
transferring NOK 474,651,430 to the surplus fund.
Acquisition and establishment of security interest in the Bank's own equity
capital certificates
The Supervisory Board adopted to authorise the Board of Directors to acquire and
establish security interest in the Bank's own equity certificates for a total
nominal value of NOK 200 million. The total holding of equity certificates
owned by the Bank and/or in which the Bank has a contractual security interest
may not exceed 10 per cent of the Bank's nominal equity certificate capital. The
lowest amount payable for equity certificates is NOK 1.00 and the highest amount
is NOK 200.00 per equity certificate. This limit also applies to any contractual
security interest such that the claim which the security interest is to cover
must be within these limits. Purchase of equity certificates shall take place in
the securities market via Oslo Børs. Disposal shall take place on the same
market, alternatively as a sale directed towards employees in accordance with
applicable laws and regulations. The authorisation is valid for 13 months as
from 6 March 2012.
For additional information, see the stock exchange notice dated 1 February 2012
regarding the Board of Directors' proposal as well as the separate stock
exchange notices dated 14 February, 16 February and 22 February 2012, regarding
the meetings in the Supervisory Board of SpareBank 1 SMN.
Trondheim, 6 March 2012
Contact persons at SpareBank 1 SMN:
CEO Finn Haugan; mob + 47 900 41 002
CFO Kjell Fordal; mob +47 905 41 672
Head of Corporate Communications Hans Tronstad; mob +47 941 78 322
About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the
retail and corporate market, and is positioned in 43 municipalities across the
region.
We aim to be the recommended bank for customers in Mid-Norway, and as a local,
independent savings bank we feel a special responsibility for stimulating growth
and prosperity in the region. We base our business on closeness to our
customers, good accessibility, a full product range and comprehensive financial
advisory services.
Our head office is in Trondheim. The Group employs about 1,100 staff and
includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1
Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap. SpareBank 1 SMN is also
the largest shareholder of BN Bank with 33 percent ownership.
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further
information, visit our website at www.smn.no
* * * * *
Disclaimer
This document does not constitute an offer to sell or the solicitation of an
offer to buy the securities of SpareBank 1 SMN (the "Securities") in the United
States or in any other jurisdiction outside Norway. The Securities may not be
offered or sold in the United States absent registration or an exemption from
registration under the U.S. Securities Act of 1933, as amended. The issuer of
the Securities has not registered, and does not intend to register, any portion
of the Offering in the United States or in any other jurisdiction outside of
Norway, and does not intend to conduct a public offering of the Securities in
the United States or in any other jurisdiction outside Norway. Copies of this
document are not being made and may not be distributed or sent into the United
States, Canada, Australia or Japan.
Forward-looking statements
This document includes "forward-looking statements" that involve risks,
uncertainties and other factors, many of which are outside of our control that
could cause actual results to differ materially from the results discussed in
the forward-looking statements. Forward-looking statements include statements
concerning our plans, objectives, goals, future events, performance and/or other
information that is not historical information. We undertake no obligation to
publicly update or revise forward-looking statements to reflect subsequent
events or circumstances after the date made, except as required by law.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SpareBank 1 SMN via Thomson Reuters ONE
[HUG#1591807]
Unternehmensinformation / Kurzprofil:
Datum: 06.03.2012 - 18:10 Uhr
Sprache: Deutsch
News-ID 122373
Anzahl Zeichen: 7831
contact information:
Town:
Trondheim
Kategorie:
Business News
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