Result of Sampo’s Nordea share sale and proposal for further capital returns
SAMPO PLC INSIDE INFORMATION 26 October 2021 at 9:00 am
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN OR INTO ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW
Result of Sampo’s Nordea share sale and proposal for further capital returns
Following the announcement on 25 October 2021, Sampo has sold 162 million Nordea shares to institutional investors through an accelerated bookbuild offering generating approximately EUR 1,725 million in gross proceeds.
Management intends to propose that the proceeds are used for an extra dividend of at least EUR 2.00 per share and that the buyback programme launched on 1 October 2021 is extended to allow for more excess capital to be returned through share repurchases. The proposals require approval from the Board of Sampo plc and the Annual General Meeting, which is expected to be held on 18 May 2022.
The sale of Nordea shares will have a positive accounting effect of EUR 351 million on Sampo Group’s consolidated IFRS net income and an additional EUR 45 million on other comprehensive income. The net income impact of the sale will be treated as an extraordinary item in the calculation of Sampo’s dividend payout ratio for the 2021 financial year. Effective from the fourth quarter of 2021, Sampo intends to reclassify Nordea in its IFRS accounts from an associated company to non-current assets held for sale according to IFRS 5.
After the transaction, Sampo holds 245,924,782 Nordea shares, corresponding to 6.1 per cent of all shares and voting rights in Nordea. BofA Securities Europe SA and Citigroup Global Markets Europe AG acted as Joint Global Coordinators of the transaction.
For more information, please contact:
Head of Investor Relations
tel. +358 10 516 0030
Communications Manager, Media Relations
tel. +358 10 516 0031
THIS ANNOUNCEMENT HAS BEEN MADE FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR ANY SECURITIES, NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
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THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA). THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE INTO THE UNITED STATES. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES, EXCEPT PURSUANT TO AN APPLICABLE EXEMPTION FROM REGISTRATION. NO PUBLIC OFFERING OF SECURITIES IS BEING MADE IN THE UNITED STATES.
ANY INVESTMENT DECISION TO BUY SECURITIES IN THE EQUITY OFFERING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION WHICH HAS NOT BEEN INDEPENDENTLY VERIFIED BY THE JOINT GLOBAL COORDINATORS OR THE SELLER. NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR IN OR INTO ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, AUSTRALIAN, CANADIAN, JAPANESE OR OTHER APPLICABLE SECURITIES LAWS.
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