Today, Jyske Bank (listed on Nasdaq Copenhagen under the symbol: JYSK), the second-largest and third-largest bank on the Danish market, announced the decision to support the merger of Nordjyske Bank and Ringkjøbing Landbobank published by the boards of directors of the two banks on 18 April 2018.

On 18 April 2018, Nordjyske Bank and Ringkjøbing Landbobank announced that the boards of directors of the two banks had entered into a merger agreement, and that the boards of directors of both banks recommend their shareholders to vote in favour of the merger.

Jyske Bank has decided to support the planned merger of Nordjyske Bank and Ringkjøbing Landbobank and will therefore vote in favour of the merger at the upcoming general meetings of Nordjyske Bank.

Jyske Bank has entered into a conditional agreement with Nykredit to sell the shares in Ringkjøbing Landbobank that Jyske Bank will acquire following the merger. The shares will be bought by Nykredit at a price of DKK 372 per share.

In addition, Jyske Bank receives in cash DKK 9 per share in Nordjyske Bank following the merger.

Jyske Bank owns 7,072,880 shares in Nordjyske Bank equalling 38.51 % of the share capital in Nordjyske Bank. The exchange ratio of the merger is two shares in Nordjyske Bank for one share in Ringkjøbing Landbobank plus the cash amount mentioned.

Jyske Bank's conditional, voluntary offer to the shareholders of Nordjyske Bank, which was made in an offer document of 6 April 2018, will lapse when the merger has been approved.

Horten advises Jyske Bank.

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Jim Øksnebjerg

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