Totalkredit A/S ("Totalkredit") has been advised that the Board of Directors of Foreningen Nykredit ("Nykredit Association") has recommended to the Committee of Representatives of the Nykredit Association that the latter pass a resolution at the next annual meeting of the Committee of Representatives on 16 March 2016 to make a capital contribution of DKK 600m to Totalkredit for the benefit of the Company and its customers.
It is proposed in the recommendation to the Committee of Representatives that the contribution be made to Totalkredit in connection with the stock exchange listing of the Nykredit Group on Nasdaq Copenhagen A/S, but not later than 1 July 2017.
In addition to the approval of the Committee of Representatives, the capital contribution is conditional on the adoption of certain amendments to the Articles of Association of the Nykredit Association, which will also be considered at the annual meeting of the Committee of Representatives on 16 March 2016, as well as on the subsequent approval by the Danish Business Authority of the said amendments to the Articles of Association.
Totalkredit will subsequently decide on the specific use of any such capital contribution. Totalkredit cannot decide nor announce such decision until the Committee of Representatives has made a decision.
For further information, please contact Nykredit at +45 44 55 14 50.
