Brief: Sampo Announces Exchange Offer To Shareholders Of Topdanmark

Topdanmark A/S

17/06/2024 06:43

June 17 (Reuters) - Sampo Oyj  SAMPO.HE :
    * REG-INSIDE INFORMATION: SAMPO ANNOUNCES A RECOMMENDED BEST
AND
FINAL PUBLIC EXCHANGE OFFER TO THE SHAREHOLDERS OF TOPDANMARK
    * BOARD OF DIRECTORS OF TOPDANMARK WILL UNANIMOUSLY
RECOMMEND
TOPDANMARK SHAREHOLDERS TO ACCEPT OFFER WHEN MADE
    * TOPDANMARK SHAREHOLDERS WILL RECEIVE 1.25 NEWLY ISSUED
SAMPO A
SHARES IN EXCHANGE FOR EACH SHARE HELD IN TOPDANMARK
    * OFFER REPRESENTS A VALUE PER TOPDANMARK SHARE OF DKK
366.38,
VALUING ENTIRE OUTSTANDING SHARE CAPITAL OF TOPDANMARK AT DKK 33
BILLION
    * CONSIDERATION REPRESENTS A PREMIUM OF 27 PER CENT TO
CLOSING
SHARE PRICE OF TOPDANMARK ON NASDAQ COPENHAGEN ON 14 JUNE 2024
    * INTENDS TO RAISE ITS TARGET FOR DEPLOYABLE CAPITAL
GENERATION
OVER 2024-2026 FROM MORE THAN EUR 4 BILLION TO OVER EUR 4.5
BILLION
    * INTENDS TO IMMEDIATELY DEPLOY EUR 800 MILLION TO OFFSET
SHARE
COUNT DILUTION FROM TRANSACTION
    * LAUNCH OF A SHARE BUY-BACK PROGRAMME AND POTENTIAL
SQUEEZE-OUT
OF TOPDANMARK MINORITY SHARES

Source text for Eikon:  ID:nGNEY6BMn 
Further company coverage:  SAMPO.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))