Jyske Bank’s Supervisory Board has submitted to the extraordinary general meeting that the Articles of Association be amended in respect of the Supervisory Board’s authority to issue new shares.
The proposal was based on the wish to re-establish the extent of the Supervisory Board’s authority after the issue carried out by Jyske Bank in March 2012. For many years the Supervisory Board has been authorised to raise the share capital by a maximum nominal amount of DKK 1bn.
The Supervisory Board has decided to withdraw the proposal to change the authority as set out in Articles 4 and 5 of the Articles of Association, which proposal appears as items 1 and 2 on the agenda of the extraordinary general meeting. Therefore the Supervisory Board takes into consideration the concerns raised by some shareholders in respect of adjusting the Supervisory Board’s authority to raise the share capital as, in an international context, this is considered excessive.
The Supervisory Board has engaged in a dialogue with investors with a view to establishing the extent of the authority. The current authority shall apply unchanged until 2015 even if the proposal of change is withdrawn.
Please direct any questions regarding this announcement to the Chairman of the Supervisory Board, Sven Buhrkall, tel. +45 89 89 20 04.
