Vestjysk Bank A/S
Implementation of the capital plan

Vestjysk Bank A/S 

28.06.2012 12:00

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The Danish Financial Supervisory Authority
NASDAQ OMX Copenhagen
London Stock Exchange
Oslo Børs


28 June 2012




Implementation of the capital plan



Today vestjyskBANK has implemented the remaining elements in the bank's capital
plan that was announced by the bank in company announcement of 25 January 2012. 

  -- Contribution of subordinated loan capital of DKK 200 million completed.
  -- Sale of sector shares at a total value of DKK 175 million completed.
  -- Final undertaking from the Danish Financial Stability Company concerning
     new individual state guarantees obtained.

Thus, vestjyskBANK has completed the sale of sector shares at a total value of
DKK 175 million to the Danish Central Bank and raised subordinated loan capital
in the amount of DKK 200 million from a group of banks consisting of
Arbejdernes Landsbank, Danske Bank, FIH Erhvervsbank, Jyske Bank, Nordea Bank
Danmark, Nykredit Bank, Spar Nord Bank, Sydbank and a number of local banks.[1] 

The sale of the sector shares and the raising of the subordinated loan capital
contribute towards strengthening the bank's solvency. 

Moreover, vestjyskBANK has today obtained a final binding undertaking from the
Danish Financial Stability Company concerning new individual state guarantees
at a total amount of up to DKK 6.8 billion with a maturity of up to 3 years
from the expiry of the current state guarantees. As announced on 4 June and 7
June 2012, respectively, vestjyskBANK has performed early redemption of
state-guaranteed bond loans totalling DKK 1.8 billion. The final binding
undertaking therefore is reduced from DKK 8.6 billion to DKK 6.8 billion. 

The final binding undertaking is subject to a number of terms, e.g.



  -- that vestjyskBANK undertakes currently to reduce the guaranteed obligations
     and in this regard to decrease the guarantee undertaking to DKK 5 billion
     on 31 December 2013, DKK 3 billion on 31 December 2014 and DKK 2 billion on
     31 December 2015 with final settlement on 30 June 2016; and
  -- that vestjyskBANK as long as there are outstanding guaranteed obligations
     cannot
     --     perform capital reductions where the amount is paid to the
        shareholders, introduce new buy-back programmes for own shares, issue
        bonus shares at a favourable price or introduce other similar favourable
        schemes, except for the full or partial buy-back of the state's shares
        in connection with the payment of a state-funded capital injection in
        vestjyskBANK;
     -- pay dividend; or
     -- initiate new share option schemes or similar schemes for the executive
        board.

With the introduction of the above-mentioned measures as well as the conversion
of the state-funded capital injection in February 2012, the merger with Aarhus
Lokalbank in March of 2012 and the rights issue in May 2012, vestjyskBANK has
implemented the capital plan announced by the bank on 19 January 2012. 

Please contact Frank Kristensen, CEO, at tel.no. +45 96 63 21 01, or Michael T.
Madsen, HR and Communication Director, at tel.no. +45 96 63 21 16, if you have
any questions or queries relating to this company announcement. 


vestjyskBANK

Frank Kristensen
CEO

fk@vestjyskbank.dk

Vestjysk Bank A/S
Torvet 4-5
DK-7620 Lemvig
Denmark
Phone +45 96 63 20 00

CVR no. 34631328
www.vestjyskbank.dk










[1]Sparekassen Vendsyssel, Sparekassen Hobro, Sparekassen Kronjylland, Den
Jyske Sparekasse, Sparekassen Sjælland, Sparekassen Thy, Lån og Sparbank,
Ringkjøbing Landbobank, Nørresundby Bank, Nordjyske Bank, Djurslands Bank and
Sparekassen Himmerland.
News Source: NASDAQ OMX



28.06.2012 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Vestjysk Bank A/S
              
               
              Norway
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         NO0010331499
WKN:          
 
End of Announcement                             DGAP News-Service
 
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