Forsinkede kurser. Sist oppdatert: tirsdag 18. desember  

07/12-2018 09:58:53: (NAS) NORWEGIAN FINANCE HOLDING HAS ENTERED INTO AN AGREEMENT REGARDING THE RIGHT TO PURCHASE SHARES IN THE IRISH COMPANY LILIENTHAL FINANCE LIMITED

Norwegian Finance Holding ASA (“NOFI”) has today entered into an agreement
granting the right to acquire shares in the Irish company Lilienthal Finance
Limited (Lilienthal). Lilienthal is a wholly owned subsidiary of HBK Holding AS
(“HBK”). It is the intention that Norwegian Air Shuttle ASA ("NAS") and NOFI
jointly with HBK can control the company.

Lilienthal is established to develop banking services in Europe and will apply
for a banking license in Ireland. The company has entered into an agreement with
NAS and its subsidiary Norwegian Air Brand Limited ("NAB") regarding the use of
the rights related to the Norwegian brand for banking services in Europe outside
the Nordic region. Lilienthal will have the same rights in Europe outside the
Nordic region as Bank Norwegian has in the Nordic countries.

The agreement provides an opportunity for NOFI and NOFI shareholders to
participate in the development of banking services outside the Nordic region,
following the same business concept as in Bank Norwegian today. NOFI will own
shares directly in Lilienthal during the project phase but aim for NOFI
shareholders to receive direct subscription rights when Lilienthal is to be
capitalized after being granted the banking license.

CEO Tine Wollebekk of NOFI states that "The Bank's existing business and
customer growth in the Nordic region is very strong and continues to be
positive. We will now increase our efforts to export the business model to other
markets in Europe."

CEO Bjørn Kjos in NAS says that "The Norwegian Reward affinity program, together
with fully digital banking operations and well-proven credit models, has created
substantial value for the bank’s and the airline's shareholders. We have entered
into an agreement that allows the bank's shareholders, including NAS itself, the
opportunity to capitalize on the values associated with the Norwegian brand
along with efficient operations and digital banking solutions."

At an extraordinary general meeting later today, the company will consider a
proposal by a shareholder to re-domicile the bank quickly. The board of NOFI has
proposed to reject the proposal but is working long-term to increase the value
of the company. The question of domiciliation is continuously assessed in this
work.


Update on Bank Norwegian’s operations in the fourth quarter 2018 
Bank Norwegian’s operations are developing as expected so far in the fourth
quarter. The bank is experiencing continued healthy loan demand in Norway and in
the other Nordic markets. Lending margins are stable in all markets. Provisions
for loan losses are developing according to expectations as communicated at the
third quarter results presentation.  

Contact person:
Kai- Morten Terning
Head of communications and public affairs
kte@banknorwegian.no
(+47) 905 

Ekstern link: https://newsweb.oslobors.no/message/465277

Nyheten er levert av OBI.