Sparebanken Sør: Melding om stabilisering og overtildeling

28 Nov 2023 08:00 CET

DENNE KUNNGJØRINGEN SKAL IKKE OFFENTLIGGJØRES, PUBLISERES ELLER DISTRIBUERES,
HELT ELLER DELVIS, DIREKTE ELLER INDIREKTE, I USA, AUSTRALIA, CANADA, JAPAN,
HONG KONG, SVEITS ELLER SINGAPORE, ELLER NOEN ANNEN JURISDIKSJON DER
OFFENTLIGGJØRING, PUBLISERING ELLER DISTRIBUSJON VIL VÆRE ULOVLIG. DENNE
KUNNGJØRINGEN UTGJØR IKKE ET TILBUD OM KJØP AV DE VERDIPAPIRENE SOM OMTALES I
KUNNGJØRINGEN.

Det vises til børsmelding datert 28. november 2023 av Sparebanken Sør ("Banken")
vedrørende den vellykkede gjennomføringen av tilbudet som beskrevet i Prospektet
publisert 20. november 2023 ("Prospektet") av Banken og Sparebankstiftelsen
Sparebanken Sør ("Stiftelsen") ("Tilbudet").

Pareto Securities AS ("Stabiliseringsagenten") kan, på vegne av Tilretteleggerne
av Tilbudet (som definert nedenfor), utføre stabiliseringsaktivitet i Bankens
egenkapitalbevis fra i dag, 28. november 2023, til og med 27. desember 2023
("Stabiliseringsperioden"). Formålet med stabiliseringsaktivitetene er å støtte
markedsprisen på egenkapitalbevisene.

I forbindelse med Tilbudet har Tilretteleggerne overtildelt 2 100 185
egenkapitalbevis til bestillerne i Tilbudet, som tilsvarer 10 % av
egenkapitalbevisene solgt i Tilbudet forut for overtildelingene.

For å muliggjøre levering i henhold til foretatte overtildelinger, har
Stabiliseringsagenten på vegne av Tilretteleggerne lånt et antall
egenkapitalbevis tilsvarende antall overtildelte egenkapitalbevis fra
Stiftelsen. Videre har Stiftelsen gitt Tilretteleggerne en opsjon
("Greenshoe-opsjonen") til å kjøpe et antall egenkapitalbevis opp til og med
antall overtildelte egenkapitalbevis til en pris per egenkapitalbevis
tilsvarende tilbudsprisen i Tilbudet på NOK 125 per egenkapitalbevis
("Tilbudsprisen"). Greenshoe-opsjonen kan kun utøves i Stabiliseringsperioden,
og kan kun utøves én gang.

Stabiliseringsagenten kan bruke Greenshoe-opsjonen til å dekke short-posisjoner
som følge av overtildelinger utført i forbindelse med Tilbudet.

Stabiliseringsagenten (eller personer som opptrer på vegne av
Stabiliseringsagenten) kan gjennomføre transaksjoner med sikte på å støtte
markedsprisen på egenkapitalbevisene på et nivå høyere enn det som ellers ville
ha blitt etablert, ved å kjøpe egenkapitalbevis i det åpne markedet til priser
lik eller lavere enn (men ikke over) Tilbudsprisen. Stabiliseringsagenten (eller
noen som opptrer på vegne av denne) har imidlertid ingen plikt til å gjennomføre
slike transaksjoner. Det kan ikke gis noen garanti for at Stabiliseringsagenten
(eller noen som handler på vegne av denne) vil effektuere stabiliseringshandler.
Hvis stabiliseringshandler blir iverksatt, kan slik aktivitet avsluttes når som
helst, og må uansett avsluttes ved eller innen utløpet av
Stabiliseringsperioden.

Dersom stabiliseringsaktivitet finner sted vil Banken publisere informasjon om
slik aktivitet ikke senere enn syv handelsdager etter eventuelle transaksjoner.
Innen en uke etter utløpet av Stabiliseringsperioden vil Banken også sende
børsmelding gjennom informasjonskanalen til Oslo Børs under Bankens ticker (SOR)
med informasjon om hvorvidt stabiliseringsaktivitet har funnet sted, herunder
det totale antallet egenkapitalbevis som er kjøpt, start- og sluttdatoer for
stabiliseringsaktiviteter, og prisintervall for gjennomført
stabiliseringsaktivitet for hver av datoene det ble gjennomført
stabiliseringshandler.

Ethvert overskudd som følge av stabiliseringsaktivitet utført av
Stabiliseringsagenten vil tilfalle Stiftelsen.

Eventuell stabiliseringsaktivitet vil bli utført i samsvar med prinsippene som
fastsatt i artikkel 5 (4) i EUs Markedsmisbruksforordning og kapittel III i
tilleggsreglene fastsatt i Delegert Kommisjonsforordning (EU) 2016/1052 med
hensyn til tekniske reguleringsstandarder for de vilkårene som gjelder for
tilbakekjøpsprogrammer og stabiliseringstiltak.

Det vises til Prospektet datert 20. november 2023 utstedt i forbindelse med
Tilbudet for ytterligere detaljer.

Rådgivere:
Pareto Securities AS og Swedbank AB (publ), i samarbeid med Kepler Cheuvreux, er
engasjert som joint global coordinators, tilretteleggere og joint bookrunners
for Tilbudet og Norne Securities AS er engasjert som tilrettelegger og Joint
Bookrunner for Tilbudet (samlet betegnet som "Tilretteleggerne").

Advokatfirmaet Selmer AS er juridisk rådgiver for Banken og Stiftelsen.
Advokatfirmaet Thommessen AS er juridisk rådgiver for Tilretteleggerne.

Kontaktpersoner i Sparebanken Sør:
Konsernsjef, Geir Bergskaug, tlf.: 901 27 206
CFO, Steinar Vigsnes, tlf.: 906 13 135

Kontaktperson i Sparebankstiftelsen Sparebanken Sør:
Daglig leder, Eskild Stenhaug, tlf.: 462 07 771

IMPORTANT NOTICE

The information contained in this announcement is for background purposes only
and does not purport to be full or complete. No reliance may be placed for any
purpose on the information contained in this announcement or its accuracy,
fairness or completeness. Neither of the Managers (Pareto Securities AS,
Swedbank AB (publ), in cooperation with Kepler Cheuvreux, and Norne Securities
AS) nor any of their respective affiliates nor any of their respective
directors, officers, employees, advisors or agents accept any responsibility or
liability whatsoever for, or makes any representation or warranty, express or
implied, as to the truth, accuracy or completeness of the information in this
announcement (or whether any information has been omitted from the announcement)
or any other information relating to Sparebanken Sør (the "Company"), its
subsidiaries or associated companies, whether written, oral or in a visual or
electronic form, and howsoever transmitted or made available, or for any loss
howsoever arising from any use of this announcement or its contents or otherwise
arising in connection therewith. This announcement has been prepared by and is
the sole responsibility of the Company and Sparebankstiftelsen Sparebanken Sør
(the "Foundation").

Neither this announcement nor the information contained herein is for
publication, distribution or release, in whole or in part, directly or
indirectly, in or into or from the United States (including its territories and
possessions, any State of the United States and the District of Columbia),
Australia, Canada, Japan, Hong Kong, Switzerland, Singapore or any other
jurisdiction where to do so would constitute a violation of the relevant laws of
such jurisdiction. The publication, distribution or release of this announcement
may be restricted by law in certain jurisdictions and persons that attain
possession of any document or other information referred to herein should inform
themselves about and observe any such restriction. Any failure to comply with
these restrictions may constitute a violation of the securities laws of any such
jurisdiction.

This announcement does not contain or constitute an offer to sell or a
solicitation of any offer to buy or subscribe for any securities referred to in
this announcement to any person in any jurisdiction, including the United
States, Australia, Canada, Japan, Hong Kong or Switzerland, Singapore or any
jurisdiction to whom or in which such offer or solicitation is unlawful.

The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "U.S.
Securities Act"), and may not be offered or sold in the United States absent
registration or an exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and in accordance with
applicable U.S. state securities laws. Neither the Company nor the Foundation
does intend to register any securities referred to herein in the United States
or to conduct a public offering of securities in the United States.

Any offering of the securities referred to in this announcement will be made by
means of a prospectus. This announcement is an advertisement and is not a
prospectus for the purposes of the EU Prospectus Regulation ("Prospectus
Regulation"). Investors should not subscribe for any securities referred to in
this announcement except on the basis of information contained in the
aforementioned prospectus. Copies of any such prospectus will, following
publication, be available from the Company's registered office and, subject to
certain exceptions, on the website of the Company.

In any EEA Member State other than Norway that has implemented the Prospectus
Regulation, this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Directive ("Qualified Investors"), i.e., only to investors who can receive the
offer without an approved prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at persons
in the United Kingdom that are Qualified Investors and that are (i) investment
professionals falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high
net worth entities, and other persons to whom this announcement may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as "relevant persons"). This communication
must not be acted on or relied on by persons who are not relevant persons. Any
investment or investment activity to which this communication relates is
available only to relevant persons and will be engaged in only with relevant
persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

The Managers and their affiliates are acting exclusively for the Company and the
Foundation and no-one else in connection with the intended offering. They will
not regard any other person as their respective clients in relation to the
intended offering and will not be responsible to anyone other than the
Foundation and the Company for providing the protections afforded to their
respective clients, or for providing advice in relation to the intended
offering, the contents of this announcement or any transaction, arrangement or
other matter referred to herein.

In connection with the contemplated offering, the Managers and any of their
affiliates, acting as investors for their own accounts, may subscribe for or
purchase shares and in that capacity may retain, purchase, sell, offer to sell
or otherwise deal for their own accounts in such equity capital certificates and
other securities of the Company or related investments in connection with the
contemplated offering or otherwise.

Accordingly, references in any prospectus, if published, to the equity capital
certificates being offered, subscribed, acquired, placed or otherwise dealt in
should be read as including any issue or offer to, or subscription, acquisition,
placing or dealing by, such Managers and any of their affiliates acting as
investors for their own accounts. The Managers do not intend to disclose the
extent of any such investment or transactions otherwise than in accordance with
any legal or regulatory obligations to do so.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "aims", "expect",
"anticipate", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company and the Foundation believes that these
assumptions were reasonable when made, these assumptions are inherently subject
to significant known and unknown risks, uncertainties, contingencies and other
important factors which are difficult or impossible to predict and are beyond
its control. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this release by such forward-looking statements.
Forward-looking statements speak only as of the date they are made and cannot be
relied upon as a guide to future performance. The Foundation, the Company, each
of the Managers and their respective affiliates expressly disclaims any
obligation or undertaking to update, review or revise any forward-looking
statement contained in this announcement whether as a result of new information,
future developments or otherwise.

The offering may be influenced by a range of circumstances, such as market
conditions, and there is no guarantee that the offering will proceed.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.

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