Oma Savings Bank Plc Will Carry Out A Direct Share Issue To ...| MENAFN.COM

Monday, 26 September 2022 03:50 GMT

Oma Savings Bank Plc Will Carry Out A Direct Share Issue To Liedon Savings Bank

(MENAFN- GlobeNewsWire - Nasdaq) Finnish English


Oma Sa vings Bank Plc will carry out a direct share i ssue to Liedon Savings Bank

Based on the authorisation of the 2022 Annual General Meeting, the Board of Directors of Oma Savings Bank Plc (OmaSp or Company) has decided on the share issue against payment directed to Liedon Savings Bank. At its meeting on 22 September 2022, the governing body of Liedon Savings Bank decided to implement the transfer of Liedon Savings Bank's business to Oma Savings Bank in accordance with the acquisition plan. The date of the appearance of the creditors of Liedon Savings Bank is 7 October 2022 and the Finnish Financial Supervisory Authority FIN-FSA has the right to object the transfer until the same date.

In the directed share issue against payment, 3,125,049 OmaSp shares will be given for subscription. All new shares to be issued will be subscribed by Liedon Savings Bank in exchange for the transfer of the business. The share issue deviates from the pre-emptive subscription right pursuant to Chapter 9, Section 3 of the Finnish Companies Act. The weighty financial reason referred to in Chapter 9, Section 4 of the Finnish Companies Act is the development and expansion of OmaSp's banking operations in the Turku Economic Area through the business acquisition.

The subscription price per share is the closing price of the share on the Helsinki Stock Exchange on the day of the transfer of the business. The shares shall be subscribed and paid as contribution in kind Liedon Savings Bank disposes to OmaSp for the payment of shares, the liabilities related to the assets to be transferred and reserves for the business to be transferred. The shares shall be paid against apport in kind from the business to be transferred at the moment when the execution of the business transfer in accordance with the acquisition plan is registered in the Trade Register, which is scheduled to take place no later than 28 February 2023.

The Board of Directors of Oma Savings Bank Plc

Additional information:
Pasi Sydänlammi, CEO, tel +358 45 657 5506,
Helena Juutilainen, CLO, tel +358 40 580 6401,
Minna Sillanpää, CCO, tel +358 50 66592,

Nasdaq Helsinki Ltd
Major media

OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 330 professionals provide nationwide services through OmaSp's 35 branch offices and digital service channels to 160,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners' products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.


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