Offer to purchase all outstanding
shares in Fokus Bank ASA

May 7, 1999

Press release
Today Den Danske Bank received the required permission to acquire Fokus Bank from the Norwegian authorities. All conditions associated with the offer to purchase all of the outstanding shares in Fokus Bank have thus been fulfilled, and Den Danske Bank will complete the purchase.

To accept the voluntary offer, current shareholders must deliver their acceptances to Saga Securities ASA by 4.00pm on 7 May 1999. Acceptances received afterwards will not be registered.

The transfer of the shares and the settlement will be carried out as soon as possible, two weeks from today's date at the latest.

According to the terms of the offer, the payment for the shares will amount to NOK 77 per share (the offering price of NOK 80 minus a dividend of NOK 3 to be disbursed on 7 May 1999) plus interest compensation of 8 per cent per annum for the period from the registration of the acceptance to the settlement date. Interest is calculated on NOK 80 per share until 6 May 1999 and afterwards on NOK 77 per share.

Den Danske Bank will subsequently own 98.8 per cent of all outstanding shares in Fokus Bank.

The acquisition of the shares as a result of acceptances of the offer will fulfil the obligations associated with Den Danske Bank's offer according to Norwegian legislation on securities trading. The offering document for the mandatory offer will be sent to Fokus Bank's remaining shareholders as soon as it has been drawn up.

After the expiry of the mandatory offer, any remaining outstanding shares in Fokus Bank will be subject to compulsory redemption.

All conditions in the authorities' permission are in accordance with Den Danske Bank's application, including the condition that a significant portion of the business of Fokus Bank ASA will not be transferred to Den Danske Bank without the approval of the Ministry of Finance.

Contact usContact us

You can contact us any time at +45 33 44 00 00. 

See contact persons
More contact info
Contact

Head office


Danske Bank Group
Holmens Kanal 2-12 1092 Copenhagen K

Find us on a map

Call us at any time


33 44 00 00

Send us a mail More contact info

Direct contacts for


Investors Job seekers Journalists Shareholders Suppliers Corporate Responsibility