The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen A/S
31 October 2014
Delivery of verdict in case on alleged market manipulation in the former Aarhus Lokalbank A/S in the period from 1 September 2009 to 5 February 2010
Today, the Court in Aarhus has delivered its verdict in the case on alleged market manipulation in the former Aarhus Lokalbank A/S in the period from 1 September 2009 to 5 February 2010.
As addressed in the company announcement of 2 January 2014, Vestjysk Bank A/S as the surviving company following the merger with Aarhus Lokalbank A/S in 2012 was accused of market manipulation in the Aarhus Lokalbank A/S share price under aggravated circumstances as a legal entity being responsible for Aarhus Lokalbank A/S in the period from 1 September 2009 to 5 February 2010 having traded its own shares in Aarhus Lokalbank A/S in a way that, according to the indictment, was suited for affecting the market price of the Aarhus Lokalbank A/S shares in a direction which deviated from its value in the market.
The Court found that "It follows from what has been stated … that, within the Bank’s business, an offense has been committed, which is attributable to employees in the Bank’s management as intentional and negligent, respectively, which must be blamed on the Bank."
The Court has sentenced Vestjysk Bank A/S to pay a fine of DKK 1 million. Apart from the effect of the fine on the Bank's results the verdict will have no financial consequences for Vestjysk Bank A/S. The Bank has not decided whether to appeal the verdict to the High Court.
Any inquiries regarding this announcement may be addressed to Vagn Thorsager, Chairman of the Supervisory Board, at tel. no. +45 96 63 21 03.
Vestjysk Bank A/S
Vagn Thorsager
Chairman
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
