SpareBank 1 SR-Bank ASA : Approved prospectus and commencement of subscription period
The Financial Supervisory Authority of Norway has on 10 May 2012 approved the
prospectus in connection with the following issues in SpareBank 1 SR-Bank:
* Public rights issue with subscription offer of 55,555,555 new shares at a
subscription price of NOK 27 per share
* Employee issue with subscription offer of up to 4,814,814 new shares at a
subscription price of NOK 27 per share
In a letter of the same date, the Financial Supervisory Authority of Norway has
stated that it approves the issues. The Financial Supervisory Authority will
deal with the amendments to the articles of association resulting from the issue
when the authority has received confirmation from the auditors that the capital
has been paid in.
Shareholders as of the end of 14 May 2012, who are registered as such in the
bank's shareholder register in VPS as of 14 May 2012, will be allotted
0.27858772 subscription rights per share owned, rounded down the the nearest
whole subscription right. One subscription right gives the right to subscribe
for and be allotted one new share Oversubscription is permitted. The
subscription rights may be freely traded and will be listed on the Oslo BÃ¸rs for
the subscription period. The subscription period starts 18 May and lasts to 1
June 2012 at 5.30 p.m.
Schedule for rights issue:
18 May 9 a.m. to 1 June 5.30 p.m. Subscription period for new shares
18 May 9 a.m. to 1 June 5.30 p.m. Period where subscription rights may be traded
07 June Allotment of new shares and distribution of
12 June Payment of alloted shares
Approx. 19 June New certificate of incorporation is available.
New shares are issued.
Approx. 20 June First day of trading for new shares on the
Full information on the rights issue and employee issue is available in the
prospectus, hereunder information on risk factors.
Managers for the issues are SpareBank 1 SR-Markets, SpareBank 1 Markets, Arctic
Securities and Pareto Securities.
The prospectus will be made available on the managers' and bank's websites;
www.sr-bank.no, www.sb1markets.no, www.arcticsec.no and www.paretosec.no before
the start of the subscription period. The prospectus will also be available in
print on request to the bank or the managers.
Inge Reinertsen, Chief Financial Officer, tel. +47 909 95 033
Thor-Christian Haugland, Executive Vice President Communications, tel.
+47 480 31 633
Vidar TorsÃ¸e, Vice President Investor Relations, tel. 970 80 656
These materials are not for distribution, directly or indirectly, in or into the
United States (including its territories and Â possessions, any State of the
United States and the District of Columbia), Canada, Australia, Japan or Hong
Kong or in other jurisdictions where such distribution is not lawful. These
materials do not constitute or form a part of any offer or solicitation
topurchase or subscribe for securities in the United States or in any other
jurisdiction. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 (the "Securities
Act"). The securities mentioned herein may not be offered or sold in the United
States except pursuant to an exemption from the registration requirements of
theSecurities Act. There will be no public offer of securities in the United
The contemplated issue of ordinary shares (the "Shares") in SpareBank 1 SR-Bank
ASA (the "Rights Issue"), the exercise or sale of subscription rights
contemplated to be issued in the Rights Issue (the "Rights") and the
subscription or purchase of Shares or Rights are subject to specific legal or
regulatory restrictions in certain jurisdictions. SpareBank 1 SR-Bank ASA
assumes no responsibility in the event there is a violation by any person of
This stock exchange release is for information purposes only and has not been
approved by any regulatory authority. It is not a prospectus, disclosure
document or offering document and does not purport to be complete. Nothing in
this stock exchange release should be interpreted as a term or condition of the
Rights Issue. Investors should not subscribe for, purchase, otherwise acquire,
sell or otherwise dispose of Rights and/or ordinary shares except on the basis
of information in the prospectus to be published by SpareBank 1 SR-Bank ASA in
due course in connection with the Rights Issue (the "Prospectus") which will
contain further information relating to the company as well as a summary of the
risk factors to which any investment is subject. This stock exchange release
does not constitute or form part of any offer or invitation to sell or issue, or
any solicitation of any offer to acquire any securities offered by any person in
any jurisdiction in which such an offer or solicitation is unlawful.
The distribution of this stock exchange release and/or the Prospectus into
jurisdictions other than Norway may be restricted by law. Persons into whose
possession this stock exchange release comes should inform themselves about and
observe any such restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such jurisdiction.
SpareBank 1 SR-Markets, Arctic Securities ASA, Pareto Securities AS and
SpareBank 1 Markets are acting for SpareBank 1 SR-Bank ASA and no one else in
connection with the Rights Issue and will not be responsible to anyone other
than SpareBank 1 SR-Bank ASA for providing the protections afforded to their
respective clients or for providing advice in relation to the Rights Issue
and/or any other matter referred to in this document.
This document and any materials distributed in connection with this document may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect SpareBank 1 SR-Bank
ASA 's current expectations and assumptions as to future events and
circumstances that may not prove accurate. A number of material factors could
cause actual results and developments to differ materially from those expressed
or implied by these forward-looking statements, including the risks and
uncertainties to be set out in the prospectus.
This information is subject of the disclosure requirements acc. to Â§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 SR-Bank ASA via Thomson Reuters ONE