Get on the spot alerts when information breaks in your shares. Claim your 1-week free trial to StreetInsider Premium here.
On 16 March 2021, the Board of Directors of Bank Norwegian ASA and Norwegian Finans Holding ASA entered right into a merger plan below which it’s contemplated that Bank Norwegian ASA will take in all of the property, rights and obligations of Norwegian Finans Holding ASA and Norwegian Finans Holding ASA will likely be dissolved. The reversed parent-subsidiary merger was authorised within the extraordinary General Meetings in each the businesses on 4 June 2021. The listing on the Oslo Stock Exchange will likely be continued by the listing of the shares of Bank Norwegian ASA.
The merger will likely be applied after shut of buying and selling on the Oslo Stock Exchange on 20 July 2021. The shares issued by Norwegian Finans Holding ASA may be traded till shut of buying and selling on this date. Shareholders in Norwegian Finans Holding ASA on the time of implementation of the merger, as registered within the Norwegian Securities Register (VPS) on 22 July 2021, will obtain one share in Bank Norwegian ASA for every share held in Norwegian Finans Holding ASA.
Trading within the shares of Bank Norwegian ASA will begin on 21 July 2021. The shares of Bank Norwegian ASA will from this date commerce below the ticker “BANO”, on ISIN NO 0011002511.
The NewsWeb historical past of Norwegian Finans Holding ASA will live on below the ticker “BANO”, whereas the historical past of Bank Norwegian ASA will proceed below “Bank Norwegian_old”.
Bank Norwegian ASA has ready and printed an “Exempted Document” pursuant to the prospectus regulation as half of the listing on the Oslo Stock Exchange. The Exempted Document, which can be discovered on https://www.banknorwegian.no/OmOss/InvestorRelations/Prospectus, is an data doc that gives an summary of the enterprise and organisation of the Bank Norwegian group. The Exempted Document is just not a prospectus and has not been reviewed or authorised by the Financial Supervisory Authority of Norway.
An overview of the timeline associated to the implementation of the merger and the listing of Bank Norwegian ASA on the Oslo Stock Exchange is included under:
20. July 2021 Last day of NOFI shares traded – Merger registered after finish of enterprise
21. July 2021 First day of BANO shares traded
22. July 2021 Settlement day in VPS of NOFI vs. BANO shares
22. July 2021 Extraordinary General Meeting to resolve on the brand new Board of Directors
Reference is made to the inventory trade bulletins dated 17 and 26 March, 11 May, and 4 and 30 June 2021, for additional details about the merger.