SPAREBANK 1 SØRØST-NORGE Reference is made to the previous stock exchange notices pertaining to the contemplated merger betweenSpareBank 1 BV andSparebanken Telemark (the "Banks"). The merger entails thatSparebanken Telemark's business is transferred toSpareBank 1 BV , which concurrently will change its name toSpareBank 1 Sørøst-Norge. The time schedule for the completion of the merger is as follows: The last day the equity certificates in both Banks will be tradeable:31 May 2021 The completion of the merger:1 June 2021 (the first date whereby only equity certificates in the merged bank SpareBank 1 Sørøst-Norge will be tradeable). Record date:2 June 2021 The exchange ratio for the equity certificates in the merger: one equity certificate inSparebanken Telemark will constitute 3,40566 equity certificates inSpareBank 1 BV . Registration number: 944 521 836 (unchanged) LEI-no. is 5967007LIEEXZX4VQO21 (unchanged) ISIN No. for equity certificates in SpareBank 1 Sørøst-Norge: NO0006000207 (unchanged) Ticker: SOON (New) Date for the resolution of the merger in the Banks' supervisory boards25 March 2021 The assignee bank:SpareBank 1 BV . The assigning bank:Sparebanken Telemark . Other information: The consideration to the certificate holders in the assigning bank consists of equity certificates inSpareBank 1 BV . Based on the negotiated exchange ratio, 1 equity certificate inSparebanken Telemark will constitute 3,40566 equity certificates inSpareBank 1 BV . It is not possible to allocate a fraction of an equity certificate. In order to avoid jointly held equity certificates, the amount of equity certificates allocated to each equity certificate holder inSparebanken Telemark will be rounded down to the closest number of whole equity certificates.SpareBank 1 BV andSparebanken Telemark shall in connection with the merger convertNOK 800 million of its primary capital to equity capital and issue equity certificates to SpareBank 1Stiftelsen BV and Sparebankstiftelsen Telemark - Grenland respectively. The conversion is made pro rata based on the size of each of the Banks' primary capital per31 December 2020 , entailing that approximatelyNOK 436 million ofSpareBank 1 BV's primary capital andNOK 364 million ofSparebanken Telemark's primary capital is converted. Post-issuance of the new equity certificates SpareBank 1 Sørøst-Norge will have an equity certificate capital equallingNOK 1 780 348 755 divided on 118.689.917 equity certificates, each with a nominal value ofNOK 15 . An EEA-prospectus, with more detailed information on the merger, will be published on1 June 2021 . The prospectus will be made available by inquiry to SpareBank 1 Sørøst-Norge,SpareBank 1 Markets AS orArctic Securities AS , and on the bank's homepage. Contact:Rune Fjeldstad , CEO, tel. + 47 900 79 017Finn Haugan , chairman, tel. + 47 900 41 002 This information is disclosed pursuant to the requirements inOslo Stock Exchange's continuing obligations.
Click here for more information
© Oslo Bors ASA, source
