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MONOBANK ASA (MONO) – Completion of private placement and details of repair offering.

Pressemelding   •   okt 28, 2016 14:41 CEST

Reference is made to the stock exchange announcements published 21 and 28 October 2016 regarding the private placement (the "Private Placement") in Monobank ASA ("Monobank", "MONO" or the "Company").

The Company announces that the board of directors has resolved to complete the Private Placement with gross proceeds of NOK 175 million. 

The Private Placement was managed by ABG Sundal Collier and Pareto Securities as Joint Bookrunners.

The Private Placement, which represents approximately 27.4 percent of the current outstanding share capital, was oversubscribed at the subscription price of NOK 4.10, by existing shareholders, new investors, members of the board of directors and management as well as employees.

The net proceeds to the Company from the Private Placement will strengthen the Company’s regulatory capital in order to maintain the Company’s strong growth in core segments, commence credit card cooperation with Widerøe and SAS EuroBonus as well as initiate Nordic cross-border expansion with Finland as first step.

The Private Placementis subject to approval by the extraordinary general meeting of the Company which will be held on 4 November 2016 (the “EGM”). The relevant proposal to the EGM under item 5 is amended to provide the full details for the share capital increase of NOK 42,682,927 through the issuance of 42,682,927 new shares each of par value NOK 1 at a subscription price of NOK 4.10 per share.

The Private Placement is further conditional on the Norwegian Financial Supervisory Authority approving the share capital increase and the registration of the increased share capital of the Company pursuant to the Private Placement in the Norwegian Register of Business Enterprises.

Notification of conditional allotment and payment instructions for the Private Placement will be sent to the applicants today through a notification to be issued by the Joint Bookrunners. The payment date for the allocated shares is expected to be on or about 7 November 2016. Barring unforeseen circumstances and subject to the abovementioned conditions, allocated shares are expected to be transferred to the applicants' accounts with the Norwegian Central Securities Depository ("VPS") by the Joint Bookrunners on or about 9 November 2016.

The following primary insiders have been allocated shares in the Private Placement at the subscription price of NOK 4.10 per share:

Prioritet Capital AB: 8,520,344 new shares. Holdings after the transaction 23,960,344 or 12.1% of the outstanding shares in the Company.

JO Capital AS: 6,622,029 new shares. Holdings after the transaction 18,622,029.

Chairman of the Board Jan Greve-Isdahl: 200,000 new shares. Holdings after the transaction 2,200,500.

Hilding Invest AS, a company controlled by CEO Bent Gjendem: 390,244 new shares. Holdings after the transaction 2,200,244.

COO Tom Henning Rimestad: 146,342 new shares. Holdings after the transaction 1,596,342.

CTO Martin Valland: 121,952 new shares. Holdings after the transaction 1,511,952.

Alene AS, a company wholly owned by CFO Lene Sjøbakk: 73,171 new shares. Holdings after the transaction 393,171.

CRO Hans Ljøen: 61,000 new shares. Holdings after the transaction 231,000.

Board member Tore Amundsen: 60,976 new shares. Holdings after the transaction 1,410,976 (including holdings through Amundsen Data AS, a company wholly owned by Mr. Amundsen).

Contact:

Bent H. Gjendem, CEO, +47 996 11 996

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About Monobank:

Monobank ASA was granted its banking licence from the Financial Supervisory Authority of Norway on 1 June 2015 and commenced regular banking operations on 19 November later that year. The Company offers unsecured lending to private individuals in Norway. Loans are granted in sizes from NOK 25,000 to NOK 500,000 on flexible terms adapted to the applicant’s needs as well as their financial ability to service the loan. The Company also offers savings accounts with attractive deposit rates. The bank is headquartered in Bergen and currently employs 21 full-time employees.

Monobank ASA is registered on the NOTC list (a Norwegian information system for unlisted shares) as of 22 February 2016 with ticker code MONO.  

Monobank ASA er en nettbank som tilbyr Personlån og høyrentekonto til privatmarkedet. Monobank ble etablert i Bergen i november 2015 med konsesjon fra Finanstilsynet. Banken er medlem av Bankenes Sikringsfond, noe som innebærer at alle bankinnskudd inntil to millioner kroner er dekket av innskuddsgarantien fra sikringsfondet.

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