Brief: Vestjysk Bank Raises Outlook On Divestment Of Sparinvest Shareholding

Vestjysk Bank A/S

01/03/2019 07:37

March 1 (Reuters) - Vestjysk Bank A/S  VJBA.CO :
    * REG-CONDITIONAL AGREEMENT CONCERNING THE SALE OF 75 PER
CENT OF
SPARINVEST
    * BEFORE COMPLETION OF TRANSACTION, DIVIDEND WILL BE PAID TO
EXISTING SHAREHOLDERS IN AN AMOUNT OF DKK 155 MILLION
    * TRANSACTION WILL FOR BANK GENERATE AN EXTRAORDINARY
TAX-EXEMPT
INCOME OF APPROX. DKK 135.0 MILLION
    * IF CONDITIONS FOR TRANSACTION ARE SATISFIED, TRANSACTION
IS
EXPECTED TO BE COMPLETED IN Q3 OF 2019
    * IT IS TO BE EXPECTED THAT THIS WILL RESULT  ADJUSTMENT OF
EXPECTED PROFIT AFTER TAX TO AROUND DKK 360-410 MILLION
    * IF SALE IS COMPLETED, VESTJYSK BANK'S COMMON EQUITY TIER 1
CAPITAL RATIO AND TOTAL CAPITAL RATIO WILL BE INCREASED BY
APPROX. 1.3 PERCENTAGE POINTS DUE TO EXTRAORDINARY INCOME OF DKK
135 MILLION

Source text for Eikon:  ID:nGNE9qR8p5 
Further company coverage:  VJBA.CO 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))