To OMX Nordic Exchange Copenhagen
29 September 2008
vestjyskBANK to take over Bonusbanken
In response to an enquiry from the Board of Directors of Bonusbanken,
vestjyskBANK will take over the activities of Bonusbanken with immediate effect
- including all commitments relating to the bank's deposit customers.
As a consequence of Bonusbanken's equity being considered lost, the bank's Board
of Directors has approached vestjyskBANK regarding the transfer of Bonusbanken's
banking activities to vestjyskBANK in accordance with section 246 of the Danish
Financial Business Act.
With the takeover of Bonusbanken, vestjyskBANK guarantees the continuation of
Bonusbanken's banking activities.
It is vestjyskBANK's view that a takeover of Bonusbanken will strengthen
vestjyskBANK's strong local position, not least in Mid-Jutland, where for many
years Bonusbanken has had a strong foothold.
In vestjyskBANK, Bonusbanken's customers and employees will be joining a strong,
local and attentive bank where, at every level and in every area, meeting
customers' individual banking service needs is given highest priority.
With the takeover of Bonusbanken's activities, it is also vestjyskBANK's view
that it will be possible to realise cost synergies at an administrative level.
In acquiring Bonusbanken's banking activities, vestjyskBANK will pay goodwill
corresponding to DKK 17,750,000 in the form of 103,200 shares in vestjyskBANK.
Expectations for 2008
It is not expected that the acquisition of Bonusbanken will have any impact on
vestjyskBANK's expectations for 2008. Consequently, the previously reported
expectations for the year still stand.
For further information, please contact:
Managing Director Frank Kristensen, tel. +45 96 63 21 01
