Approval of application for establishment of savings bank foundation

04 Nov 2024 10:09 CET

Sparebanken Møre refers to the stock exchange announcements published on 5 July
2024 regarding notification of an order for correction from The Norwegian
Financial Supervisory Authority (Norwegian FSA), and 25. October 2024 i.e.
regarding application for establishment of savings bank foundation.

Sparebanken Møre has today received approval from the Norwegian FSA for the
establishment of a savings bank foundation and including approval of the
foundation's articles of association.

According to the articles of association, the purpose of the Sparebanken Møre
savings bank foundation is to ensure long-term and stable ownership in
Sparebanken Møre. In its activities, the foundation, through its ownership in
Sparebanken Møre and the continuation of savings bank traditions, will ensure
good regional established savings bank services in Møre og Romsdal county.

The establishment of the savings bank foundation shall take place by issuance of
360,750 new equity certificates with a denomination of NOK 20 at the share price
of NOK 72.07. In connection with the establishment an amount of NOK 175,000,000
will transferred to the foundation. In connection with the annual settlement for
2023 the General Meeting in Sparebanken Møre decided to further transfer NOK
150,000,000 to the savings bank foundation.

Sparebanken Møre has initiated finalization of the work to establish the
foundation with the ambition that it will be in place by the turn of the year.

Contact persons:
- Trond Lars Nydal, CEO, tlf. +47 951 79 977
- John Arne Winsnes, CFO, tlf. +47 462 80 999
- Runar Sandanger, Senior Economist, tlf. +47 950 43 660

More information:
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