2005-03-15 15:56
Swedbank’s comments on the opinion of AS Hansabank’s council regarding the cash offer to the shareholders of AS Hansabank
Not for release in or into the United States of America, Australia, Japan or Canada. The Offer is not directed towards any person whose participation requires additional prospectus, registration or other measures than those required by Estonian or Swedish law. Specifically, the Offer is not being made directly or indirectly in or into the United States of America, Australia, Japan or Canada. Documents related to the Offer must not be mailed or otherwise distributed or sent in or into or from the United States of America, Australia, Japan or Canada, and persons receiving any documents related to the Offer (including, without limitation, custodians, nominees and trustees) must not distribute or send them in, into or from the United States of America, Australia, Japan or Canada. Any documents related to the Offer may not be distributed to or in any other country where such distribution (i) requires additional registration or other measures than those prescribed by Estonian and Swedish law or (ii) conflicts with prevailing legislation or regulations in such country.
On 15 March, the Council of AS Hansabank issued its opinion on the cash offer by Swedbank on 1 March to all shareholders of AS Hansabank for acquiring all shares of AS Hansabank not already owned by Swedbank. We notice the expressed opinions which confirm the integrity of the Council and its individual members. The comment from certain members of the council on the business logics does not correspond with Swedbank’s own view. In our opinion, Hansabank will become an even stronger organization with greater resources for expansion both in Hansabanks markets and in neighbouring countries. Combined with Swedbank’s policy that banking is local, including business and credit decisions, we are convinced that this will benefit both Hansabank’s customers and its employees. The statements in the Council’s opinion by those individual Council members and members of the Management Board that own shares in Hansabank that they will not accept the offer at this price level reflect their personal financial interests. Swedbank regards the price offered as fair but respects that not everybody shares this view. For detailed terms and conditions of the offer, please see the prospectus of the offer, which is made available on the website of the Tallinn Stock Exchange (www.ee.omxgroup.com) and at Hansabank, which the local execution agent for the offer, address Liivalaia 8, Tallinn 15040, Estonia. For further information, please contact: Henrik Kolga, Head of Corporate Communications, Swedbank, phone: +46 70 811 13 15