Sparebanken Møre

Registration Form • Nov 4, 2024

Approval of application for establishment of savings bank foundation

Approval of application for establishment of savings bank foundation

Sparebanken Møre refers to the stock exchange announcements published on 5 July 2024 regarding notification of an order for correction from The Norwegian Financial Supervisory Authority (Norwegian FSA), and 25. October 2024 i.e. regarding application for establishment of savings bank foundation.

Sparebanken Møre has today received approval from the Norwegian FSA for the establishment of a savings bank foundation and including approval of the foundation's articles of association.

According to the articles of association, the purpose of the Sparebanken Møre savings bank foundation is to ensure long-term and stable ownership in Sparebanken Møre. In its activities, the foundation, through its ownership in Sparebanken Møre and the continuation of savings bank traditions, will ensure good regional established savings bank services in Møre og Romsdal county.

The establishment of the savings bank foundation shall take place by issuance of 360,750 new equity certificates with a denomination of NOK 20 at the share price of NOK 72.07. In connection with the establishment an amount of NOK 175,000,000 will transferred to the foundation. In connection with the annual settlement for 2023 the General Meeting in Sparebanken Møre decided to further transfer NOK 150,000,000 to the savings bank foundation.

Sparebanken Møre has initiated finalization of the work to establish the foundation with the ambition that it will be in place by the turn of the year.

Contact persons:

- Trond Lars Nydal, CEO, tlf. +47 951 79 977

- John Arne Winsnes, CFO, tlf. +47 462 80 999

- Runar Sandanger, Senior Economist, tlf. +47 950 43 660