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Norwegian Finans Holding ASA (NWEGF)

Other OTC - Other OTC Delayed price. Currency in USD
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7.450.00 (0.00%)
At close: 3:48PM EDT
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  • Globe Newswire

    Norwegian Finans Holding ASA: Minutes from Extraordinary General Meeting in Norwegian Finans Holding ASA – Approved merger plan

    We refer to previous announcements in Norwegian Finans Holding ASA and Bank Norwegian ASA regarding the ongoing merger process between Norwegian Finans Holding ASA and Bank Norwegian ASA, including announcement on May 11, 2021 regarding notice of Extraordinary General meeting (EGM) of shareholders in Norwegian Finans Holding ASA. The EGM in Norwegian Finans Holding ASA was held electronically on June 4, 2021, at 09.00 CET. All proposed resolutions on the agenda were approved, including the merge

  • Globe Newswire

    Norwegian Finans Holding ASA: Allocation of shares under the incentive scheme for key employees, trades subject to notification by primary insiders

    Norwegian Finans Holding ASA ("the Company") has now determined the bonus for key management for 2020 based on the incentive scheme for key management of the Company and Bank Norwegian ASA. Based on this scheme, a part of each employee's bonus claim shall be settled by shares in the Company. Consequently, the Board of Directors has on 26 May 2021 approved an allocation of 57 078 of the company’s own shares, each with a par value of NOK 1. The shares have been allocated today, on 27 May 2021. Please find attached a list of primary insiders of Norwegian Finans Holding ASA who have increased their shareholding, subject to notification requirements. The subscription price for the shares to be allocated is NOK 92.09 per share. This subscription price has been based on the market value during the relevant time period in accordance with the Company's guidelines, adjusted for paid dividends. The share capital in the Company is unchanged following the transaction, at NOK 186 904 268 divided into 186 904 268 shares. The Company's remaining balance of own shares is 0 after the allocation. Contact persons: CFO Klara Lise Aasen; phone +47 47635583; kaa@banknorwegian.no Head of Treasury Mats Benserud; phone +47 95891539; mbe@banknorwegian.no This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment Attachment Trades subject to notification by primary insiders

  • Globe Newswire

    Norwegian Finans Holding ASA: Notice of Extraordinary General Meeting and update on intra-group merger

    The Board of Directors in Norwegian Finans Holding ASA hereby invite to an Extraordinary General Meeting (EGM) of shareholders of Norwegian Finans Holding ASA on Friday 4 June 2021 at 09.00. With reference to the ongoing merger process between Norwegian Finans Holding ASA and Bank Norwegian ASA, and with further reference to the announcements on 27 April 2021 on Norwegian Finans Holding ASA and 29 April 2021 on Bank Norwegian ASA, stating that the merger had been approved by the respective Annual General Meetings on 27 April 2021. The Norwegian Register of Business Enterprises did not approve the notification of the merger resolution, because the one-month notification period for the merger plan was not fulfilled. The merger plan was announced through a stock exchange notice on 26 March 2021 and at the company’s website, but was not announced through Brønnøysund Register Center’s electronic bulletin for public announcement before 7 April 2021. As such, Norwegian Finans Holding ASA and Bank Norwegian AS will hold EGMs for the respective companies with the purpose to re-approve the merger plan. The merger plan is unchanged from the issued material for the AGM 27 April, as decided by the Board of Directors on 16 March, and as published in stock exchange notices on 26 March 2021 for the respective companies, while the Independent Expert report is updated and published at the company’s website: https://www.banknorwegian.no/OmOss/InvestorRelations/GeneralMeeting. The EGM will be held digitally using electronic voting. Please find attached the notice and guidelines for participation, which are also available at the company's website: https://www.banknorwegian.no/OmOss/InvestorRelations/GeneralMeeting. An updated tentative timeline for the merger, given a positive decision by the EGM, is: 4 June - Extraordinary General meeting at 09.00 4 June - Notification to FSA and Company register 17 July - Creditor notification period ends 19 July - Merger notification to Company register, assuming no creditor issues 20 July - Last day of NOFI shares traded - Merger registered after end of business 21 July - First day of BANO shares traded 22 July - Settlement day in VPS of NOFI vs BANO The updated timeline will have no consequences other than a delayed process. The merger will still be completed at continuity with accounting and tax effect from 1 January 2021. As previously stated, the rationale for the merger is to give positive synergies on administrative costs as well as reduce funding cost on future MREL eligible capital being issued from an operating company instead of a holding company. The merger is considered to have no material effect nor adversely impact Norwegian Finans Holding ASA' or Bank Norwegian AS' ability to fulfill its obligations towards creditors under relevant agreements, including current senior preferred loan agreements, subordinated loan agreements and tier 1 capital instruments agreements. Contact persons: CFO Klara Lise Aasen; phone +47 47635583; kaa@banknorwegian.no Head of Treasury Mats Benserud; phone +47 95891539; mbe@banknorwegian.no This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment Notice EGM NOFI