Brief: Spar Nord Bank: Conditional Voluntary Offer To Shareholders Of Danske Andelskassers Bank

Spar Nord Bank A/S

01/03/2019 10:00

March 1 (Reuters) - Spar Nord Bank A/S  SPNO.CO :
    * REG-CONDITIONAL VOLUNTARY OFFER TO THE SHAREHOLDERS OF
DANSKE 
ANDELSKASSERS BANK A/S
    * RESOLVED TO SUBMIT A CONDITIONAL VOLUNTARY OFFER TO
PURCHASE ALL
OUTSTANDING SHARES IN DANSKE ANDELSKASSERS BANK A/S
    * OFFER REPRESENTS A PREMIUM OF ABOUT 19 % TO CLOSING PRICE
ON 28
FEBRUARY 2019
    * OFFER REPRESENTS A PREMIUM OF ABOUT 19 % TO CLOSING PRICE
ON 28
FEBRUARY 2019
    * OFFER WILL BE FINANCED BY ISSUING NEW SHARES IN SPAR NORD
    * OFFER REPRESENTS A PREMIUM OF ABOUT 105 % TO CLOSING PRICE
ON 25
SEPTEMBER 2018
    * SPAR NORD BANK- SHAREHOLDERS OF DAB ARE OFFERED
CONSIDERATION IN
FORM OF ONE (1) SHARE IN SPAR NORD AND CASH CONSIDERATION OF DKK
13.35 FOR NINE (9) SHARES IN DAB
    * AGAINST THIS BACKGROUND, IT IS SPAR NORD'S OVERALL
ASSESSMENT
THAT A COMBINATION WOULD CREATE VALUE FOR ALL STAKEHOLDERS.
    * OFFER PRICE CORRESPONDS TO A TOTAL VALUATION OF DAB OF DKK
1,127
MILLION
    * SPAR NORD BANK  - CO OWNS 30.89 PERCENT OF TOTAL SHARE
CAPITAL
AND VOTING RIGHTS IN DAB

Source text for Eikon:  ID:nGNEbgWtDt 
Further company coverage:  SPNO.CO 

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