Repurchase of C-shares for Long Term Incentive Programme 2012

24-04-12 8:00 | Press release

The Board of Directors of Nordea Bank AB (publ) has decided, in accordance with an authorisation given by the Annual General Meeting on 22 March 2012, on a directed offer to repurchase 2,679,168 C-shares from Royal Bank of Scotland (“RBS”).

Nordea’s Annual General Meeting decided on a directed issue of 2,679,168 C-shares to RBS and an authorisation to the Board of Directors to repurchase the C-shares. The issue and repurchase are part of the implementation of Nordea's Long Term Incentive Programme 2012. Acquisition will be made during the period 27 April – 25 May 2012. Payment for acquired shares will be made in cash, and the price per share will be EUR 1 plus an administration fee. The price is expected to amount to approximately EUR 1.011 per share. Acquisition also includes a so-called interim share, designated by Euroclear Sweden AB as a "paid sub­scription share" (Swedish "BTA") relating to a C-share. Nordea currently holds 18,003,281 own ordinary shares and no own C-shares or paid subscription shares relating to a C-share.

RBS has informed Nordea that it intends to accept the offer.

After all 2,679,168 C-shares have been acquired, the Board of Directors intends to convert them to ordinary shares.

For further information:

Steen Christensen, Group Human Resources, +45 3333 3049
Helena Östman, Group Identity and Communications, +46 8 614 84 64

The information in this press release is such that Nordea shall announce publicly according to Act (1991:980) regarding trading with financial instruments and/or Act (2007:528) regarding the securities market.