Pohjola Bank plc
Stock exchange release
29 July 2014 at 5.00 pm
Arbitrators appointed for the redemption of Pohjola minority shares
Pohjola Bank plc ("Pohjola") today received the following information from OP-Pohjola Group Central Cooperative.
The Redemption Committee of the Finland Chamber of Commerce has appointed an Arbitral Tribunal consisting of three arbitrators to settle the disagreements over the right of squeeze-out relating to Pohjola shares not held by OP-Pohjola Group Central Cooperative and over the squeeze-out price. The Arbitral Tribunal comprises attorney Pekka Puhakka (Chairman), attorney Petra Kiurunen and attorney Matti Ylä-Mononen.
On 11 April 2014, OP-Pohjola Group Central Cooperative announced that it had more than nine tenths (9/10) of all shares and votes in Pohjola and that it would exercise its right under the Limited Liability Companies Act to buy out the shares held by other Pohjola's shareholders. The squeeze-out price offered by OP-Pohjola Group Central Cooperative is 16.13 euros, which equals the consideration paid by OP-Pohjola Group Central Cooperative based on the public voluntary bid announced on 6 February 2014.
OP-Pohjola Group Central Cooperative has 98.41% of Pohjola shares and 99.14% of the votes conferred by shares.
Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer
DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
pohjola.com, op.fi
FOR MORE INFORMATION, PLEASE CONTACT:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Niina Pullinen, Senior Vice President, Investor Relations, tel. 010 252 4494
Pohjola is a Finnish financial services group that offers its customers banking, non-life insurance and asset management services. Pohjola's mission is to promote the prosperity, security and wellbeing of its customers. Key targets include profitable growth and increasing the company's value. Pohjola Group serves corporate customers in Finland and abroad by providing an extensive range of financial, investment, cash management and non-life insurance services. For private customers, the Group provides non-life insurance and private banking services. Pohjola's consolidated earnings before tax amounted to 473 million euros in 2013 and the balance sheet total amounted to EUR 44 billion on 31 December 2013. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland with 4.3 million customers.