Reference is made to previous stock exchange notifications on the merger process, the latest dated9 April 2021 .The Financial Supervisory Authority of Norway (NoFSA) has now granted the necessary permits to carry out the merger betweenSpareBank 1 BV andSparebanken Telemark in accordance with a decision made by the banks' Supervisory Board on25 March 2021 . Finanstilsynet has set Pillar 2 requirements for the merged bank on core tier 1 capital adequacy of at least 2.3 percentage points in addition to the minimum and buffer requirements. This means that SpareBank 1 Sørøst-Norge's requirement for core tier 1 capital adequacy, including current buffer requirements, will be 13.3 per cent, the requirement for tier 1 capital adequacy is 14.8 per cent and the requirement for total capital adequacy is 16.8 per cent. The requirement shall apply at a consolidated level, i.e. including proportionate consolidation of enterprises in cooperating group. The current Pillar 2 requirements are forSpareBank 1 BV 1.9 percentage points (consolidated) and forSparebanken Telemark 2.2 percentage points (parent bank). The board of the merged bank will as soon as possible start work on a new capital requirement assessment (ICAAP) which will be sent to the NoFSA within twelve months after the merger has been completed as required by NOFSA. The merger is contemplated to be finalised on1 June 2021 . Contact personsSpareBank 1 BV :Rune Fjeldstad , CEO, tel. + 47 900 79 017Finn Haugan , Chairman of the Board, tel. + 47 900 41 002Sparebanken Telemark : Per Halvorsen, CEO, bank manager, tel. +47 934 07 441Anne Berg Behring , Chairman of the Board, tel. +47 930 30 889 This information is subject of the disclosure requirements acc. To section 5-12 of the Securities Trading Act.
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