Spar Nord Bank Announces Compulsory Acquisition and Delisting Plans
Compulsory Acquisition of Minority Shareholders
In a significant announcement, Spar Nord Bank A/S has initiated a process regarding the compulsory acquisition of shares owned by minority shareholders. This decision follows Nykredit Realkredit A/S completing its tender offer and acquiring a substantial ownership interest in Spar Nord Bank.
Nykredit, now holding 96.54% of the share capital, has chosen to complete the compulsory acquisition for remaining shares held by minority shareholders. This ensures a streamlined ownership under Nykredit as they move towards consolidating their position in the bank.
Transfer Deadline and Compensation
All minority shareholders are requested to voluntarily transfer their shares to Nykredit within a specific timeframe of four weeks, which is set to end on a designated date. Those who do not comply will have their shares acquired by Nykredit at a fixed price of DKK 210.50 per share.
This price aligns with what was offered in the initial tender, ensuring that minority shareholders receive fair compensation for their assets during this transition.
Delisting from Nasdaq Copenhagen
As a result of the compulsory acquisition, Spar Nord Bank’s Board of Directors has proactively decided to request the delisting of its shares from Nasdaq Copenhagen. The timing of this delisting is directly correlated with the completion of the acquisition process.
If approved, the delisting is expected to take effect at the conclusion of the compulsory acquisition period. This move signifies a new chapter for both Spar Nord and Nykredit as they aim to solidify their operational strategies.
Inquiries and Further Information
For any inquiries regarding this announcement, stakeholders are encouraged to reach out to the Chief Financial Officer, Rune Brandt Børglum. He is available for questions and can be reached at the provided telephone number.
Frequently Asked Questions
What is the purpose of the compulsory acquisition?
The compulsory acquisition aims to consolidate Spar Nord Bank's shares under Nykredit's ownership, simplifying the shareholding structure.
When is the deadline for minority shareholders to transfer their shares?
Minority shareholders have four weeks to transfer their shares, with the deadline set for a specific date provided in the announcement.
What happens if a shareholder does not sell their shares voluntarily?
If minority shareholders do not voluntarily transfer their shares by the deadline, they will be compulsorily acquired at a predetermined price.
What is the price for the compulsory acquisition of shares?
The acquisition price for the shares is set at DKK 210.50 per share, which matches the tender offer price previously established.
When will the delisting from Nasdaq Copenhagen take effect?
The delisting from Nasdaq Copenhagen is expected to occur at the end of the compulsory acquisition period, pending approval from the exchange.
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