Eik Banki P/F
Eik Banki P/F and Eik Bank Danmark A/S enter into an agreements with the Financial Stability Company.

Eik Banki P/F 

30.09.2010 23:10

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*	Eik Banki P/F and Eik Bank Danmark A/S enter into an agreements with the
Financial Stability Company on a conditional transfer of the activities. The
deadline for fulfillment of the solvency requirements has been extended to 8
October 2010 at 12.00 in preparation for an extraordinary general meeting to
adopt the agreements. 
*	Extension of Danish government guarantee scheme

1.	Agreement with the Danish Finacial Stability Company
Today, the Danish Financial Services Authority (FSA) has has given Eik Banki
P/F and Eik Bank Danmark A/S an extended deadline for Eik Banki P/F's
fulfillment of the solvency requirements determined by the FSA to 30 September
2010 at 11 pm as deadline. The deadline has since then been extended to 8
October 2010 at 12.00 in preparation for an extraordinary general meeting where
the agreements are to 

Furthermore, earlier today Eik Bank Danmark A/S has presented a claim towards
Eik Banki P/F for the capitalization of Eik Bank Danmark A/S based on the
letter of support, issued by Eik Banki P/F to the Financial Stability Company
as a condition for the utilization of the agreement on issue of individual
state guarantees with the Financial Stability Company of 26 May 2010. 

Eik Banki P/F has not been able to satisfy the claim for injection of capital,
and the Financial Stability Company will expectedly undertake towards Eik Bank
Danmark A/S to redeem the claim as the claim for injection of share capital in
Eik Bank Danmark A/S is an ordinary claim against Eik Banki P/F, which as a
member of the Private Contingency Association is comprised by the Act on
Financial Stability. 

Eik Banki P/F and Eik Bank Danmark A/S therefore have entered into a
conditional agreement regarding the transfer of all the activities of the two
banks respectively to a purchaser directed by the Financial Stability Company. 



2.	Danish Government Guarantee Scheme 
Depositors and ordinary creditors will continue to be covered by the general
government guarantee scheme as further described in the Bank's company
announcement no. 19/2010. This entails that all depositors and ordinary
creditors continue to be fully covered and that the functionality of payment
cards, payment services etc. continues. 

Sincerely

Odd Bjellvåg		Finn Danberg
Chairman		Director, CFO

News Source: NASDAQ OMX



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Language:     English
Company:      Eik Banki P/F
              
               
              Faeroe Islands
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FO0005702340
WKN:          
 
End of Announcement                             DGAP News-Service
 
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