Sale of Nets shares

        Print
| Source: Vestjysk Bank A/S
multilang-release

The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen

Oslo Børs


24 March 2014


Company announcement:

Sale of Nets shares

Today, Advent International, ATP and Bain Capital have, as announced in a press release, entered into an agreement to acquire all shares in Nets from the existing shareholders, consisting of a group of 186 banks, primarily in Denmark and Norway. The shares are acquired against an aggregate consideration of DKK 17 bn., equal to DKK 92.37 per share. In addition, the current shareholders will receive dividend for 2013 totalling DKK 498 mill. or DKK 2.70 per share.

The Supervisory Board of Nets unanimously recommends the shareholders to accept the offer, and shareholders representing more than 90 per cent of the share capital and voting rights, including vestjyskBANK, have signed irrevocable undertakings to sell their shares. The transaction is subject to regulatory approval and is expected to be completed in Q2 2014.

In accordance with the accounting rules, vestjyskBANK determines the Nets shares at fair value (in Danish “dagsværdi”). The acquisition implies that a capital gain of DKK 19.5 mill. will be booked as income in Q1 2014.
In addition, vestjyskBANK will receive DKK 1.6 mill. as dividend.



vestjyskBANK


Vagn Thorsager             
CEO           


vth@vestjyskbank.dk

Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark

Phone +45 96 63 20 00

CVR no. 34631328
www.vestjyskbank.dk