1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Bank Norwegian Asa
  6. News
  7. Summary
    NOFI   NO0011002511


End-of-day quote Oslo Bors  -  11-02
104.60 NOK   -0.10%
05/19CORRECTION : Tap issue in NOK senior unsecured bond
05/19Buyback of bonds
05/13Bank Norwegian ASA, a subsidiary within the Nordax Bank Group, publishes its interim report for January-March 2022
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Bank Norwegian : Reminder of expiry of the offer period for the recommended voluntary offer for all outstanding shares in Bank Norwegian ASA

09/30/2021 | 02:20am EDT

Reference is made to the offer document dated 5 August 2021 (the "Offer
Document") for the recommended voluntary offer by Nordax Bank AB (publ)
("Nordax" or the "Offeror") to acquire all outstanding shares (the "Shares") in
Bank Norwegian ASA (the "Company") against a consideration in cash of NOK 105
per Share (subject to adjustment as set out in the Offer Document) (the "Offer
Price") (the "Offer"). The Offer Price is Nordax' best and final. Reference is
further made to the announcement dated 24 September 2021 in which the Offeror
announced an extension of the offer period for the Offer (the "Offer Period")
until 16.30 hours (Norwegian time) on 1 October 2021.

The Offer Period will expire on 1 October at 16:30 (Norwegian time), subject to
extensions at the sole discretion of the Offeror. Shareholders who want to
accept the Offer must fill out and return the acceptance form which is included
in the Offer Document, prior to the expiry of the Offer Period.

The completion of the Offer remains subject to fulfilment or waiver by the
Offeror (in its sole discretion) of the closing conditions set out in the Offer
Document, other than the Minimum Acceptance condition as fulfilled on 8
September 2021, including the receipt of regulatory approvals, as further set
out in section 1.19 (Regulatory Approvals) in the Offer Document. As of the date
hereof, the Offer has been cleared by the Norwegian Competition Authority and
the Norwegian Financial Supervisory Authority has provided regulatory approval
pursuant to Norwegian law. Relevant regulatory approvals by the Swedish
Financial Supervisory Authority remain outstanding, as expected at this time in
the application processes. None of the conditions that refer to events that
shall not occur have, to the Offeror's knowledge, occurred. The complete terms
and conditions for the Offer, including procedures for how to accept the Offer
and detailed information regarding settlement, are set out in the Offer

The Offer Document is, subject to regulatory restrictions in certain
jurisdictions, available at www.abgsc.com and www.dnb.no/emisjoner. Subject to
regulatory restrictions in certain jurisdictions, the Offer Document may also be
obtained free of charge during ordinary business hours at the offices of the
receiving agent, DNB Bank ASA, Registrars Department, Dronning Eufemias gate 30,
0191 Oslo, Norway.

For further information on the Offer, visit www.collaborate-to-scale.com.

ABG Sundal Collier, DNB Markets, Goldman Sachs International and Melesio are
acting as financial advisors to Nordax in the process. FCG Risk & Compliance AB
is acting as advisor on governance, risk and compliance to Nordax. Advokatfirman
Cederquist KB is acting as Swedish legal counsel and Advokatfirmaet Wiersholm AS
is acting as Norwegian legal counsel to Nordax.

About Nordax
Nordax Bank AB (publ) is a leading specialist bank in Northern Europe owned by
Nordic Capital Fund VIII and Sampo. Nordax has around 287,000 private customers
in Sweden, Norway, Finland, Denmark and Germany. We are a specialist bank that
through responsible lending helps people make informed decisions for a life they
can afford. We are a flexible complement to the major banks. Instead of
quantity, we have specialised in a few selected products that we know best:
personal loans, mortgages, equity release products and savings accounts. Since
2019, Svensk Hypotekspension, which is a specialist in equity release products,
is a wholly owned subsidiary of Nordax. Nordax has around 350 employees,
practically all of whom work from a central office in Stockholm. The credit
assessment process is one of Nordax's core competencies. It is thorough, sound
and data driven. Nordax's customers are financially stable. As of 30 June 2021,
lending to the public amounted to SEK 30.1 billion and deposits amounted to SEK
28.4 billion.

Read more about Nordax on http://www.nordaxgroup.com.

Important notice
This press release is for informational purposes only and is not an offer to buy
or the solicitation of an offer to sell any securities. The Offer will only be
made on the basis of the Offer Document, and can only be accepted pursuant to
the terms of the Offer Document. The Offer will not be made in any jurisdiction
in which making of the Offer would not be in compliance with the laws of such
jurisdiction or would require that an additional offer document is prepared or
registration effected or that any other measures are taken in addition to those
required under Norwegian law and regulations. This press release and any related
Offer documentation are not being distributed and must not be mailed or
otherwise distributed or sent in or into any country in which the distribution
or offering would require any such additional measures to be taken or would be
in conflict with any law or regulation in such country - any such action will
not be permitted or sanctioned by Nordax. Any purported acceptance of the Offer
resulting directly or indirectly from a violation of these restrictions may be

Notice to U.S. Holders
U.S. Holders (as defined below) are advised that the shares in BANO (the
"Shares") are not listed on a U.S. securities exchange and that the Company is
not subject to the periodic reporting requirements of the U.S. Securities
Exchange Act of 1934, as amended (the "U.S. Exchange Act"), and is not required
to, and does not, file any reports with the U.S. Securities and Exchange
Commission (the "SEC") thereunder.

The Offer is made to holders of Shares resident in the United States ("U.S.
Holders") on the same terms and conditions as those made to all other holders of
Shares of the Company to whom an offer is made. Any information documents,
including the Offer Document, will be disseminated to U.S. Holders on a basis
comparable to the method that such documents are provided to the Company's other
shareholders to whom an offer is made. The Offer is made by the Offeror and no
one else.

The Offer is made to U.S. Holders pursuant to Section 14(e) and Regulation 14E
under the U.S. Exchange Act as a "Tier II" tender offer, and otherwise in
accordance with the requirements of Norwegian law. Accordingly, the Offer is
subject to disclosure and other procedural requirements, including with respect
to the offer timetable, settlement procedures and timing of payments, that are
different from those that would be applicable under U.S. domestic tender offer
procedures and law.

Pursuant to an exemption from Rule 14e-5 under the U.S. Exchange Act, the
Offeror and its affiliates or brokers (acting as agents for the Offeror or its
affiliates, as applicable) may from time to time, and other than pursuant to the
Offer, directly or indirectly, purchase or arrange to purchase, Shares or any
securities that are convertible into, exchangeable for or exercisable for such
Shares outside the United States during the period in which the Offer remains
open for acceptance, so long as those acquisitions or arrangements comply with
applicable Norwegian law and practice and the provisions of such exemption. To
the extent information about such purchases or arrangements to purchase is made
public in Norway, such information will be disclosed by means of an English
language press release via an electronically operated information distribution
system in the United States or other means reasonably calculated to inform U.S.
Holders of such information. In addition, the financial advisors to the Offeror
may also engage in ordinary course trading activities in securities of the
Company, which may include purchases or arrangements to purchase such

Neither the SEC nor any securities supervisory authority of any state or other
jurisdiction in the United States has approved or disapproved the Offer or
reviewed it for its fairness, nor have the contents of the Offer Document or any
other documentation relating to the Offer been reviewed for accuracy,
completeness or fairness by the SEC or any securities supervisory authority in
the United States. Any representation to the contrary is a criminal offence in
the United States.

Forward-looking information 
Statements in this press release relating to future status and circumstances,
including statements regarding future performance, growth and other projections
and whether the Offer will be completed, are forward-looking statements. These
statements may generally, but not always, be identified by the use of words such
as "anticipates", "expects", "believes", or similar expressions. By their
nature, forward-looking statements involve risk and uncertainty because they
relate to events and depend on circumstances that will occur in the future.
There can be no assurance that actual results will not differ materially from
those expressed or implied by these forward-looking statements due to many
factors, many of which are outside the control of Nordax. Any such
forward-looking statements speak only as of the date on which they were made and
Nordax has no obligation (and undertakes no such obligation) to update or revise
any of them, whether as a result of new information, future events or otherwise,
except for in accordance with applicable laws and regulations.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

05/19CORRECTION : Tap issue in NOK senior unsecured bond
05/19Buyback of bonds
05/13Bank Norwegian ASA, a subsidiary within the Nordax Bank Group, publishes its interim re..
05/13Interim report for the first quarter 2022
05/13Bank Norwegian Asa Reports Earnings Results for the First Quarter Ended March 31, 2022
04/28Nordax Bank AB (publ) publishes the annual report and the sustainability report for 202..
04/27Bank Norwegian ASA, a subsidiary within the Nordax Bank Group, publishes its sustainabi..
03/30Bank Norwegian ASA, a subsidiary within the Nordax Bank Group, publishes its annual rep..
03/30Annual report and Pillar 3 report for 2021
03/29Bank Norwegian Asa Reports Earnings Results for the Full Year Ended December 31, 2021
More news
Duration : Period :
Bank Norwegian Asa Technical Analysis Chart | MarketScreener
Full-screen chart
Managers and Directors
Klara-Lise Aasen President, Chief Executive & Financial Officer
Hans Torsten Georg Larsson Chairman
Karstein Holen Chief Information Officer
Tore Andresen Chief Operating Officer
Frode Bergland Bj°rnstad Chief Legal & Compliance Officer