SpareBank 1 SMN: Final result of the offerings
(Thomson Reuters ONE) -
Not for release, publication or distribution in the United States, Canada,
Australia or Japan.
The subscription period in the rights offering and the employee offering at
SpareBank 1 SMN closed on Monday 26 March 2012 at 1730 hours (CET).
By the expiry of the subscription period, SpareBank 1 SMN had received
subscriptions for a total of 44,227,029 new equity capital certificates in the
rights offering. 28,477,170 equity capital certificates were offered, and the
rights offering was consequently oversubscribed by 55.3 per cent.
27,671,952 equity capital certificates, representing 97.2 per cent of the new
equity capital certificates in the rights offering, were subscribed for by the
exercise of subscription rights. 805,218 equity capital certificates, or 2.8 per
cent, were subscribed for through over-subscription.
In the employee offering, SpareBank 1 SMN received subscriptions for a total of
811,010 new equity capital certificates distributed on 382 employees.
The CEO and the Chairman of the Board of Directors of SpareBank 1 SMN have today
approved the final allocation of equity capital certificates in the offering.
The allocation has been carried out in conformity with the allocation criteria
set forth in the prospectus dated 8 March 2012. No allocation has been made to
subscribers without subscription rights.
Notifications of allocated new equity certificates and the corresponding
subscription amount to be paid by each subscriber will be distributed in a
letter today. The subscription amounts fall due for payment on 3 April 2012; see
payment procedures described in the prospectus.
The new equity capital certificates may not be transferred or traded until they
have been paid for in full and the increase of capital in the rights offering
and the employee offering has been registered with the Register of Business
Enterprises. Registration is expected to take place on 11 April 2012.
The new equity capital certificates will be transferred to the VPS accounts of
each individual subscriber on or about 11 April 2012, and is expected to be
quoted on the Oslo Stock Exchange on 12 April 2012.
After the rights offering, the employee offering and transfer from the Savings
Bank's nominal equity certificate capital to the surplus fund is registered with
the Register of Business Enterprises, the equity certificate capital of the
Savings Bank will be NOK 2,484,369,320 distributed on 124,218,466 equity
capital certificates, each with a nominal value of NOK 20.
Following the Rights Offering SpareBank 1 SMN will receive gross proceeds of NOK
740,406,420 before transaction costs. SpareBank 1 SMN will receive gross
proceeds of NOK 21,086,260 from the Employee Offering.
SpareBank 1 Markets AS acted as Global Coordinator and Bookrunner, and SpareBank
1 SMN Markets and Swedbank First Securities acted as Joint Lead Managers for the
rights offering.
The changes to the Articles of Association related to the capital increase and
the transfer from the nominal equity certificate capital to the surplus fund is
subject to approval from the Norwegian Financial Supervisory Authority. Such
approval is expected to be issued on or about 10 April 2012.
Trondheim, 30 March 2012
Contact persons at SpareBank 1 SMN:
CFO Kjell Fordal; mob +47 905 41 672
Head of Corporate Communications Hans Tronstad; mob + 47 941 78 322
* * * * *
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#1598787]
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2012 - 12:50 Uhr
Sprache: Deutsch
News-ID 130442
Anzahl Zeichen: 6072
contact information:
Town:
Trondheim
Kategorie:
Business News
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