Sandnes -14 February 2020 Reference is made to the stock exchange announcement published on13 February 2020 bySandnes Sparebank ("the Company") regarding a contemplated repurchase of equity capital certificates ("ECCs") in the Company. The Company has today purchased 2,080,000 ECCs inSandnes Sparebank at a price ofNOK 75.00 per ECC, which is equivalent toNOK 156 million . After the transaction, the Company holds 2,098,629 ECCs inSandnes Sparebank , which corresponds to approximately 9.12% of outstanding ECCs. As a consequence of the transaction,Sandnes Sparebank has reached the threshold of 5% with respect to the outstanding ECCs in the Company. The transaction size ofNOK 156 million represents a reduction in the CET1 ratio of approximately 1%-point, which was the intention of the repurchase of ECCs. Adjusted for the ECCs owned by the Company, the proforma CET1 as of31 December 2019 is approximately 16.4% and the adjusted ECC fraction is approximately 63.1%. This information is subject to the disclosure requirements according to section 4-2 (second paragraph) and 4-3 of the Norwegian Securities Trading Act. For further information, please contact: Tomas Nordbø Middelthon Deputy CEO/CFO +47 922 11 865
Click here for more information
© Oslo Bors ASA, source