Max Bank A/S and Skælskør Bank Aktieselskab have merged

The Danish Financial Supervisory Authority has today granted its permission for
Max Bank A/S and Skælskør Bank - as adopted by the two companies' General
Meetings - to merge in accordance with the Board of Directors' merger plan and
merger statement as announced in the joint stock exchange announcement of 30
June 2010, to which we refer. 
The Financial Stability Company approved the merger on 2 September 2010.
In connection with the merger, the nominal share capital of Max Bank A/S was
increased by DKK 27,893,760 nominal from DKK 41,400,000 nominal to DKK
69,293,760 nominal. The new shares will be admitted for trading on NASDAQ OMX
Copenhagen A/S on 14 September 2010. 
As all conditions for the implementation of the merger of Max Bank A/S and
Skælskør Bank Aktieselskab have thus been met, the Boards of Directors have
passed their decision in this respect in accordance with the authority granted
at the General Meetings, and the merger has been registered with the Danish
Commerce and Companies Agency. 
As the merger has been implemented, the Articles of Association amended at the
General Meeting of Max Bank A/S have become effective. The new Articles of
Association (without appendices) are attached to this announcement and are
available in their entirety at Max Bank A/S' homepage www.maxbank.dk. 
Moreover, Peter Melchior, Estate Owner, and Henning Skovlund, Chief Financial
Officer, have joined the Board of Directors of Max Bank A/S. Per Vesterholm
also joins the Board of Directors as an employee board member. 
The Board of Directors then consists of Hans Fossing Nielsen, Peter Melchior,
Dan Andersen, Jan Borre Bjødstrup, Henning Skovlund, Steen Sørensen, Mie Rahbek
Hjorth (employee board member), Preben Pedersen (employee board member) and Per
Vesterholm (employee board member). 
The Board of Directors has elected Hans Fossing Nielsen as Chairman and Peter
Melchior as Vice-Chairman. 
 
The schedule for the practical circumstances related to implementing the
merger, including exchange of shares, will be as follows: 

9 September 2010: Registering the merger with the Danish Commerce and Companies
Agency. 

13 September 2010: Last trading day of Skælskør Bank Aktieselskab

14 September 2010: Admission for trading of Max Bank shares replaced with
shares in Skælskør Bank. 

16 September 2010: Merger process in VP Securities - Shares of Skælskør Bank
Aktieselskab are replaced with Max Bank A/S shares. 

14 September to 27 September 2010: Period for converting sub-shares (both days
included). 

27 September 2010: Merger process in VP Securities - Payment for any additional
sub-shares.


Stock Exchange Announcement no. 34/2010