SpareBank 1 Midt-Norge lifts all reservations related to its acquisition of Romsdals Fellesbank ASA. A syndicate has been established to underwrite subscription of a PCC issue of up to NOK 450 million

 The Board of Directors of SpareBank 1 Midt-Norge has decided to lift all reservations related to the acquisition of Romsdals Fellesbank ASA. Payment for the shares of Romsdals Fellesbank ASA will be made to the bank's shareholders on 1 April 2005.

 

SpareBank 1 Midt-Norge has established an underwriting syndicate to guarantee full subscription of a PCC issue of up to NOK 450 million. Participants in the underwriting syndicate are banks within the SpareBank 1 Alliance. Up to 75% of the underwritten amount of up to NOK 450 million will be resyndicated to other investors and existing PCC holders in SpareBank 1 Midt-Norge.

 

The planned issue will be a public rights issue. The issue is expected to go ahead once SpareBank 1 Midt-Norge has presented its first-quarter accounts for 2005.

 

First Securities ASA has been engaged to lead manage the issue.

 

Any questions may be addressed to the

Managing Director, Finn Haugan, tel.: + 47 90 04 10 02

or the chief financial officer, Kjell Fordal, tel.: + 47 90 54 16 72

 

 

About us

 

SpareBank 1 Midt-Norge is Central Norway's leading financial group. We are market leaders in personal and business banking and have 48 offices in 42 municipalities, in addition to distributing our services through 17 in-shop banks. Our head office is in Trondheim. The group has approximately 700 employees and comprises, in addition to banking operations, the subsidiaries SpareBank 1 Finans Midt-Norge AS, EiendomsMegler 1 Midt-Norge AS, Allegro Finans ASA and Midt-Norge Regnskap AS.

 

Our mission is to be the recommended bank for customers in Central Norway and, as a local, independent savings bank, we feel a special responsibility for stimulating growth and quality of life in the region. We base our business on proximity to customers, good accessibility, a complete range of banking, financial and insurance products, and holistic financial advisory services. 

 

SpareBank 1 Midt-Norge is one of seven owners of SpareBank 1 Gruppen AS.

 

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