Reference is made to previous stock exchange notices regarding the merger of Sparebanken Vest and Sparebanken Sør (the “Merger”), latest on 23 April 2025 where it was reported that all conditions for completion of the Merger have been satisfied.
On this basis, it is expected that completion of the Merger, including name change to Sparebanken Norge, will occur on 2 May 2025. In connection with the Merger, consideration equity capital certificates will be allocated to equity capital certificate holders in Sparebanken Sør (“SOR-owners”).
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The following key information is provided for the delivery of the consideration equity capital certificates:
30 April 2025: Last day inclusive (the last day the SOR-equity capital certificates are traded inclusive of right to consideration equity capital certificates in Sparebanken Norge)
2 May 2025 Ex-date (First day of trading in the merged bank (Sparebanken Norge) on Euronext Oslo Børs):
5 May 2025: Record date (Record date for delivery of consideration equity capital certificates to former SOR-owners)
5 May 2025 Delivery of consideration equity capital certificates to former SOR-owners
Transferring bank: Sparebanken Sør
Acquiring bank: Sparebanken Vest
Ticker for the merged bank: SBNOR
Ticker for existing loans for the merged banks: SBNOR
ISIN (SBNOR (previous SVEG), unchanged): NO0006000900
Merger consideration: SOR-owners will receive 1.437 consideration equity capital certificate in SBNOR for each SOR-equity capital certificate held on the Record Date. A total of 59 895 314 new equity capital certificates will be issued to owners of equity capital certificates in Sparebanken Sør.
Total equity certificate capital after the Merger: NOK 4,240,412,500.
Total number of issued equity capital certificates after the Merger: 169,616,500, each with a par value of NOK 25. Each share represents one vote at the equity capital certificate holders’ meeting.
Date of approvals: 2 October 2024 (general meetings), 29 November 2024 (the Norwegian Competition Authority), 20 March 2025 (the Norwegian Financial Supervisory Authority) and 23 April 2025 (the boards of the banks).
For further information on the Merger, please see the merger plan available on:
https://www.spv.no/ and https://www.sor.no.
Contact persons:
Sparebanken Vest
CEO: Jan Erik Kjerpeseth, tel.: +47 951 98 430
CFO: Frank Johannesen, tel.: +47 952 65 971
Sparebanken Sør
CEO: Geir Bergskaug, tel.: +47 901 27 206
CFO: Steinar Vigsnes, tel.: +47 906 13 135
This information is disclosed pursuant to the requirements in the Continuing Obligations and the Securities Trading Act § 5-12.
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