The Supervisory Board passed the following resolution at its meeting on 6 May 2010:
The Supervisory Board hereby authorises the Board of Directors to raise regulatory capital in the form of hybrid securities and to negotiate the requisite terms, in Norwegian kroner or the equivalent in foreign currency, in an amount not exceeding:
NOK 500 million
The authorisation applies until the final accounts for 2010 are adopted.
Contact persons:
CEO Finn Haugan on +47 900 41 002
Executive Vice President, Finance, Kjell Fordal on +47 905 41 672
About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the field in the retail and corporate market, and has 56 offices positioned in 47 localities across the region's municipalities.
Our aim is to be the recommended bank for customers in the counties of Trøndelag and Møre og Romsdal, and as a local, independent savings bank we feel a special responsibility for stimulating growth and prosperity in the region. We base our business on closeness to our customers, good accessibility, a full product range and comprehensive financial advisory services.
Our head office is in Trondheim. The Group employs about 1,100 staff and includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1 Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap, as well as being the largest shareholder in BN Bank with a stake of 33 per cent.
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further information, visit our website at www.smn.no
Downloadable photo here.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)