Both the rights offering and the employee offering at SpareBank 1 SMN expired yesterday, Thursday 25 March 2010 at 1730hrs (Norwegian time). The provisional allocation of new equity capital certificates is now available.
The preliminary count shows that by the expiry of the subscription period SpareBank 1 SMN had received subscriptions for about 44 million new equity capital certificates in the rights offering. 24,963,307 new certificates were offered, and the rights offering has consequently been oversubscribed by about 75 per cent.
The employee offering also attracted considerable interest. According to the preliminary count, the employees subscribed for a total of about 508 thousand new equity capital certificates distributed on 350 employees. The overall subscribed amount is about NOK 16,7 million.
The final allocation of equity capital certificates in the rights offering and the employee offering is expected to be adopted by the Board of Directors of SpareBank 1 SMN on Wednesday, 31 March 2010. The allocation will be carried out in conformity with the allocation criteria set forth in the prospectus dated 4 March 2010. The final subscription result will be published by notice via Oslo Stock Exchange on 31 March 2010. On the same day, VPS, the Norwegian Central Securities Depository, will send a letter concerning the allocation of new equity capital certificates and the corresponding subscription amount to be paid by each subscriber.
Trondheim, 26 March 2010
Contact persons at SpareBank 1 SMN:
Executive Vice President, Finance, Kjell Fordal on +47 905 41 672
Executive Vice President, Corporate Communications, Hans Tronstad on +47 941 78 322
DISCLAIMER
These written materials are not for distribution in the United States, Canada, Australia, Hong Kong or Japan. The information contained herein does not constitute an offer of securities for sale in the United States, Canada, Australia, Hong Kong or Japan.
The securities may not be offered or sold in the United States unless they are registered under applicable law or exempt from registration. The Savings Bank does not intend to register any portion of the offer in the United States or to conduct a public offer of securities in the United States. No money, securities or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.
FORWARD LOOKING STATEMENTS
This document and any materials distributed in connection with this document may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect SpareBank 1 SMN's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the risks and uncertainties to be set out in the prospectus.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)