OP-Pohjola Group Central Cooperative has obtained ownership of all Pohjola Bank plc shares, and the shares are thus delisted
On 30 September 2014, OP-Pohjola Group Central Cooperative has posted the collateral required by the arbitral tribunal and hence obtained ownership of all Pohjola Bank plc shares in accordance with chapter 18, section 6 of the Finnish Limited Liability Companies Act.
Pohjola Bank plc's minority shareholders involved in the squeeze-out procedure after the collateral has been posted are entitled only to the redemption price and to the interest accruing thereon. According to the current estimate, OP-Pohjola Group Central Cooperative will pay the undisputed proportion of the redemption price in approximately one month.
As per application by Pohjola Bank plc, NASDAQ OMX Helsinki Oy ("Helsinki Stock Exchange") has decided to delist Pohjola shares from the Helsinki Stock Exchange after title to all Pohjola shares has been transferred in the squeeze-out procedure to OP-Pohjola Group Central Cooperative. On 29 September 2014, the Helsinki Stock Exchange ceased trading on Pohjola A shares in connection with the delisting process and has today issued a release on the delisting of the share from the Helsinki Stock Exchange. The Pohjola Bank plc A shares are listed for the last day on Tuesday 30 September 2014.
OP-Pohjola Group Central Cooperative
Carina Geber-Teir
Chief Communications Officer
For more information, please contact:
OP-Pohjola Communications, media contacts, tel. +358 (0)50 523 9904
DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi, pohjola.com
OP-Pohjola Group is Finland's leading financial services group providing a unique range of banking, investment and insurance services. The Group's mission is to promote the prosperity, well-being and security of its owner-members, customers and operating regions through its local presence. Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP-Pohjola Group consists of some 180 member cooperative banks and the Group's central institution, OP-Pohjola Group Central Cooperative, with its subsidiaries and closely-related companies, the largest of which is Pohjola Bank plc. The Group has a staff of 12,000. OP-Pohjola Group posted earnings before tax of EUR 705 million in 2013 and had total assets of EUR 101 billion on 31 December 2013. The Group has 4.3 million customers.
www.op.fi