DNB Bank ASA

M&A Activity • Jun 17, 2021

DNB Bank ASA annonserer endelig resultat av det anbefalte frivillige tilbudet for Sbanken ASA

DNB Bank ASA annonserer endelig resultat av det anbefalte frivillige tilbudet for 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, 17. juni 2021

Det vises til tilbudsdokumentet datert 23. april 2021 («Tilbudsdokumentet»), og

etterfølgende børsmeldinger 24. mai 2021, 7. juni 2021 og 14. juni 2021 for det

anbefalte frivillige tilbudet fra DNB Bank ASA («Tilbyder») om erverv av alle

aksjene («Aksjene») i Sbanken ASA («Selskapet») som ikke allerede eies av

Tilbyder, til NOK 108,85 per Aksje (med eventuell justering som beskrevet i

Tilbudsdokumentet) («Tilbudet»).

Det endelige resultatet viser at Tilbyder har mottatt aksepter av Tilbudet for

totalt 86.852.979 Askjer, som representerer om lag 81,3 % av de utestående

Aksjene og stemmerettighetene i Selskapet. I tillegg eier Tilbyder 10.567.419

Aksjer i Selskapet, som representerer om lag 9,9 % av Aksjene og

stemmerettighetene i Selskapet. Etter oppgjør av Tilbudet vil Tilbyder eie

totalt 97.429.398, tilsvarende om lag 91,2 % av Aksjene og stemmerettighetene i

Selskapet.

Oppgjør av Tilbudet skal finne sted senest ti (10) virkedager etter datoen hvor

Tilbyder har kunngjort at betingelsene for gjennomføring av Tilbudet relatert

til myndighetsgodkjennelser (eng.: Regulatory Approvals), som beskrevet i

Tilbudsdokumentet, har blitt oppfylt eller frafalt av Tilbyder. Se punkt 3.4

(Conditions for completion of the Offer) i Tilbudsdokumentet for ytterligere

informasjon.

For spørsmål vedrørende prosedyren for oppgjør, vennligst ta kontakt med

oppgjørsagenten, DNB Bank ASA, Verdipapirservice, epost: retail@dnb.no

Etter oppgjør av Tilbudet har Tilbyder til hensikt å iverksette tvungen

overføring av de gjenstående Aksjene ikke eid av Tilbyder, i henhold til

allmennaksjeloven § 4-25.

DNB Markets, del av DNB Bank ASA er Tilbyders finansielle rådgiver.

Advokatfirmaet BAHR AS er Tilbyders juridiske rådgiver i forbindelse med

Tilbudet. Arctic Securities AS er finansiell rådgiver og Advokatfirmaet

Thommessen AS er juridisk rådgiver for Selskapet i forbindelse med Tilbudet.

For videre informasjon, vennligst kontakt følgende personer hos Tilbyder:

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

Media contact:

Thomas Midteide, GEVP Communications & Sustainability: +47 96 23 20 17

Følgende personer hos Selskapet kan kontaktes i forbindelse med Tilbudet:

Jesper M. Hatletveit, Head of Investor Relations: +47 95 94 00 45

Henning Nordgulen, CFO: +47 95 26 59 90

Media contact:

Kristian K. Fredheim, Head of Communications: +47 92 44 74 07

***

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.