EQS-Adhoc: Allgemeine Sparkasse OÖ Bank AG: AD-HOC NOTICE PURSUANT TO ART. 17 MAR

EQS Group-Ad-hoc: Allgemeine Sparkasse OÖ Bank AG / Key word(s): Corporate
Action
Allgemeine Sparkasse OÖ Bank AG: AD-HOC NOTICE PURSUANT TO ART. 17 MAR

23-Nov-2021 / 11:27 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS Group – a company of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.

————————————————————————–

AD-HOC NOTICE PURSUANT TO ART. 17 MAR

 

Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft („ASK“) has
approved a framework agreement, the implementation of which will effect
the share capital of ASK being reduced from currently EUR 64,371,086.00 by
EUR EUR 11.426.848,81 to EUR 52.944.237,19 and the participation of Erste
Bank der oesterreichischen Sparkassen Aktiengesellschaft in ASK being
reduced to 10%.

Linz, Republic of Austria, 23.11.2021 – The management board and the
supervisory board of Allgemeine Sparkasse Oberösterreich
Bankaktiengesellschaft („ASK“ or the „Company“) have approved a framework
agreement with Anteilsverwaltung Allgemeine Sparkasse, 4020 Linz,
Promenade 11-13 („AVS“), which holds 57.27% of the shares in ASK, and
Erste Bank der oesterreichischen Sparkassen Aktiengesellschaft, 1100
Vienna, Am Belvedere 1 („EBÖ“), which holds 39.19% of the shares in ASK.
According to this framework agreement, EBÖ’s stake in ASK is to be reduced
from around 39% at present to around 10% in the future. Such reduction
shall be achieved through a combination of the sale of ASK shares from EBÖ
to AVS on and a reduction in the share capital of ASK („Framework
Agreement“).

In implementation of the Framework Agreement, EBÖ’s shareholding in ASK is
to be reduced accordingly immediately after the ordinary general meeting
for the 2021 financial year. Further, in 2022 a reduction of the share
capital of ASK from currently EUR 64,371,086.00 by EUR 11.426.848,81 to
EUR 52.944.237,19 shall be resolved and ASK shall acquire the respective
shares from EBÖ for cancellation. In the Framework Agreement, AVS and EBÖ
shall commit to exercise their voting rights in the ordinary general
meeting of ASK in favor of the agreed reduction of capital.

In the Framework Agreement, AVS undertakes to EBÖ to purchase such amount
of shares in ASK from EBÖ that as a result of these purchases, EBÖ’s stake
in ASK is reduced to 10%.

The Framework Agreement is subject to conditions precedent, including (i)
the permission of the ECB to reduce the share capital of ASK, (ii) the
permission by the Financial Markets Authority regarding the reduction of
the indirect participation of Erste Group Bank AG („EGB“) and the direct
participation the EBÖ in ASK.

In connection with the intended reduction in the share capital of ASK, ASK
intends to issue Additional Tier 1 Instruments.

Name of the Company: Allgemeine Sparkasse Oberösterreich
Bankaktiengesellschaft
Promenade 11 – 13
4020 Linz
Republic of Austria
Contact: Allgemeine Sparkasse Oberösterreich
Bankaktiengesellschaft
Promenade 11 – 13
4020 Linz
Martin Punzenberger
ISIN: AT0000212550
AT000B100763
AT000B100896
AT000B100953
AT000B100987
AT000B101100
AT000B101191
AT000B101308
AT000B101357
AT000B101407
Relevant Markets: Official Market of the Vienna Stock Exchange

————————————————————————–

23-Nov-2021 CET/CEST News transmitted by EQS Group AG. www.eqs.com

————————————————————————–

Language: English
Company: Allgemeine Sparkasse OÖ Bank AG
Promenade 11-13
4021 Linz
Austria
Phone: +43 50 100 40000
Fax: +43 50 100 9 40000
E-mail: info@sparkasse-ooe.at
Internet: www.sparkasse-ooe.at
ISIN: AT0000212550, AT000B100763, AT000B100896, AT000B100953,
AT000B100987, AT000B101100, AT000B101191, AT000B101308,
AT000B101357, AT000B101407,
WKN: A0AV22
Listed: Foreign Exchange(s) Vienna Stock Exchange (Official Market)
EQS News ID: 1251307

 
End of Announcement EQS Group News Service

1251307  23-Nov-2021 CET/CEST

[1]fncls.ssp?fn=show_t_gif&application_id=1251307&application_name=news&site_id=apa_ots_austria

References

Visible links

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS. www.ots.at
© Copyright APA-OTS Originaltext-Service GmbH und der jeweilige Aussender