DNB Bank ASA

M&A Activity • Apr 6, 2022

DNB Bank ASA annonserer tvangsinnløsning av aksjer i Sbanken ASA

DNB Bank ASA annonserer tvangsinnløsning av aksjer i Sbanken ASA

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN CANADA, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Oslo, 6. april 2022

Det vises til tilbudsdokumentet datert 23. april 2021 («Tilbudsdokumentet»), og etterfølgende børsmeldinger for det anbefalte frivillige tilbudet fra DNB Bank ASA («DNB») om erverv av alle aksjene i Sbanken ASA («Selskapet») som ikke allerede eies av DNB («Tilbudet»).

Tilbudet ble gjennomført den 30. mars 2022. Etter oppgjør av Tilbudet eide DNB aksjer tilsvarende om lag 91,78 % av aksjene og stemmerettighetene i Selskapet.

Styret i DNB har, med effekt fra 16:30 den 6. april 2022, besluttet overføring av de øvrige aksjene i Selskapet (tvangsinnløsning) jf. allmennaksjeloven § 4-25, jf. verdipapirhandelloven § 6-22 (3). Som konsekvens av dette har DNB overtatt eierskap til alle aksjene i Selskapet.

Den tilbudte løsningssummen er NOK 104,45 per aksje. Den tilbudte løsningssummen er den samme som prisen i det gjennomførte Tilbudet og er godkjent av Oslo Børs i egenskap av å være tilbudsmyndighet i Norge. Oppgjør av den tilbudte løsningssummen vil finne sted senest 20.april 2022. Swedbank Norge (org. nr. 880 824 872) har stilt garanti for oppgjøret etter tvangsinnløsningen i tråd med verdipapirhandelloven § 6-22 (3) nr. 3.

Eventuelle innsigelser mot eller avslag på den tilbudte innløsningssummen må fremsettes senest 8. juni 2022. Tidligere aksjonærer i Selskapet som ikke framsetter innsigelser eller avslag på den tilbudte innløsningssummen innen denne fristen anses for å ha akseptert innløsningssummen.

Et brev om tvangsinnløsningen vil bli sendt til alle tidligere aksjonærer i Selskapet med kjent adresse som er omfattet av tvangsinnløsningen. I tillegg vil tvangsinnløsningen annonseres i Brønnøysundregistrenes elektroniske kunngjøringspublikasjon.

Som følge av tvangsinnløsningen vil DNB søke om å stryke Selskapets aksjer fra notering på Oslo Børs. Det vil bli sendt separate børsmeldinger vedrørende tidspunkt for slik strykning.

For videre informasjon, vennligst kontakt følgende personer hos DNB:

Rune Helland, Head of Investor Relations: +47 97 71 32 50

Media contact:

Vibeke Hansen Lewin, EVP Media: +47 99013349

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Disse opplysningene er informasjonspliktige etter verdipapirhandelloven § 5-12.

The Offer and the distribution of this announcement and other information in connection with the Offer may be restricted by law in certain jurisdictions. When published, the Offer Document and related acceptance forms will not and may not be distributed, forwarded or transmitted into or within any jurisdiction where prohibited by applicable law, including, without limitation, Canada, Australia, New Zealand, South Africa, Hong Kong and Japan. The Offeror does not assume any responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

This announcement is not a tender offer document and, as such, does not constitute an offer or the solicitation of an offer to acquire the Shares. Investors may accept the Offer only on the basis of the information provided in the Offer Document. Offers will not be made directly or indirectly in any jurisdiction where either an offer or participation therein is prohibited by applicable law or where any tender offer document or registration or other requirements would apply in addition to those undertaken in Norway.

Notice to U.S. Holders

U.S. Holders (as defined below) are advised that the Shares are not listed on a U.S. securities exchange and that the Company is not subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended (the "U.S. Exchange Act"), and is not required to, and does not, file any reports with the U.S. Securities and Exchange Commission (the "SEC") thereunder. The Offer will be made to holders of Shares resident in the United States ("U.S. Holders") on the same terms and conditions as those made to all other holders of Shares of the Company to whom an offer is made. Any information documents, including the Offer Document, will be disseminated to U.S. Holders on a basis comparable to the method that such documents are provided to the Company's other shareholders to whom an offer is made. The Offer will be made by the Offeror and no one else.

The Offer will be made to U.S. Holders pursuant to Section 14(e) and Regulation 14E under the U.S. Exchange Act as a "Tier II" tender offer, and otherwise in accordance with the requirements of Norwegian law. Accordingly, the Offer will be subject to disclosure and other procedural requirements, including with respect to the offer timetable, settlement procedures and timing of payments, that are different from those that would be applicable under U.S. domestic tender offer procedures and law.

Pursuant to an exemption from Rule 14e-5 under the U.S. Exchange Act, the Offeror and its affiliates or brokers (acting as agents for the Offeror or its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase or arrange to purchase, Shares or any securities that are convertible into, exchangeable for or exercisable for such Shares outside the United States during the period in which the Offer remains open for acceptance, so long as those acquisitions or arrangements comply with applicable Norwegian law and practice and the provisions of such exemption. To the extent information about such purchases or arrangements to purchase is made public in Norway, such information will be disclosed by means of an English language press release via an electronically operated information distribution system in the United States or other means reasonably calculated to inform U.S. Holders of such information. In addition, the financial advisors to the Offeror may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities.

Neither the SEC nor any securities supervisory authority of any state or other jurisdiction in the United States has approved or disapproved the Offer or reviewed it for its fairness, nor have the contents of the Offer Document or any other documentation relating to the Offer been reviewed for accuracy, completeness or fairness by the SEC or any securities supervisory authority in the United States. Any representation to the contrary is a criminal offence in the United States.