Grønlandsbanken A/S
Sale of Nets shares
Grønlandsbanken A/S 24.03.2014 14:25 Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- To Nasdaq OMX Copenhagen 24. March 2014 Company Announcement No 06/2014 Sale of Nets shares Today, Advent International, ATP and Bain Capital have, as announced in a press release, entered into an agreement to acquire all shares in Nets from the existing shareholders, consisting of a group of 186 banks, primarily in Denmark and Norway. The shares are acquired against an aggregate consideration of DKK 17 bn., equal to DKK 92.37 per share. In addition, the current shareholders will receive dividend for 2013 totalling DKK 498 mill. or DKK 2.70 per share. The Supervisory Board of Nets unanimously recommends the shareholders to accept the offer, and shareholders representing more than 90 per cent of the share capital and voting rights, including The BANK of Greenland, have signed irrevocable undertakings to sell their shares. The transaction is subject to regulatory approval and is expected to be completed in Q2 2014. In accordance with the accounting rules, The BANK of Greenland determines the Nets shares at fair value (in Danish 'dagsværdi'). The acquisition implies that a capital gain of DKK 5.5 mill. will be booked as income in Q1 2014. In addition The BANK of Greenland will receive DKK 0.455 mill. as dividend. The BANK of Greenland Martin Kviesgaard General Manager Telephone: +299 34 78 02 E-mail: mbk@banken.gl News Source: NASDAQ OMX 24.03.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Grønlandsbanken A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010230630 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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