At Vestjysk Bank's extraordinary general meeting held on 31 July 2017 it was resolved to authorise the Board of Directors to increase the Bank’s share capital. At a board meeting held immediately after the general meeting, the Board resolved to use this authorisation to increase the Bank’s share capital by up to 744,973,396 shares with pre-emption rights for Vestjysk Bank’s existing shareholders at a price of DKK 1 per share. The share issue is part of an overall solution to ensure a future for Vestjysk Bank A/S.
You can read more about the capital increase, the Bank’s strategy, terms of the offer, risk factors and other information in the prospectus, which has been published via Nasdaq Copenhagen on 6 September 2017. Vestjysk Bank A/S advices that you carefully read the prospectus before deciding whether to participate in the share issue.
The prospectus will be available here on our website (linking to link at the bottom of the page). Certain limitations apply, however. For example, the offer is not open to persons residing in the US, Canada, Australia or Japan.
Please note that Vestjysk Bank A/S is not able to offer any guidance on whether to buy shares or sell subscription rights, as Vestjysk Bank A/S is a party to the share issue.
|6 September||Publication of prospectus|
|7 September||Last day of trading in Vestjysk Bank shares, including subscription rights|
|8-21 September||Trading in subscription rights|
|11 September||Registration of subscription rights in shareholders’ custody accounts|
|12-25 September||Subscription for new shares|
|25 September||Deadline for payment of new shares|
|2 October||First day of trading in new shares|
All shareholders who are customers of Vestjysk Bank will receive an invitation to subscribe by letter in their e-boks or by physical letter, for those who do not use e-boks. If you wish to participate in the subscription, the letter will explain what to do.
Shareholders who are not customers of Vestjysk Bank will receive an invitation to subscribe from their own bank.
If you are a customer of Vestjysk Bank and you do not participate in the share issue, you will keep your shares and we will try to sell your subscription rights on the last day of trading, if there are any willing buyers. If it is not possible to sell the rights, they will subsequently be cancelled.
The shares will be offered at a price of DKK 1 per share.
You can follow the price of the subscription rights on the stock exchange. Trading in the subscription rights commences on 8 September and the price will depend on supply and demand.
You will be allotted 74 subscription rights per share owned. 15 subscription rights are required to subscribe for one share at a subscription price of DKK 1.00.
With a holding of 1,000 shares, you can subscribe for 4,933 new shares.
(1,000 x 74 / 15 = 4,933 new shares)
If you are a customer of Vestjysk Bank and have left-over subscription rights, we will attempt to sell them in the market.
All investments are subject to risk, and this is also the case with shares in Vestjysk Bank. You should not invest funds that you cannot afford to lose. The specific risk factors relating to an investment in Vestjysk Bank shares are described in more detail in the prospectus, which is available here at vestjyskbank.dk.
In order to be valid, the signed subscription form, or a scanned copy of a signed subscription form, must be returned to Vestjysk Bank. Vestjysk Bank must be in receipt of the subscription application by 20 September at 3 p.m. CET.
If you are not a customer of Vestjysk Bank, you must instruct your bank at to what to do in relation to the share issue, and you must meet the deadlines set by your bank.