The increase in share capital will strengthen the Company's position in strategically important growth areas, especially in long-term savings.
The intention is to combine the Norwegian Storebrand ASA with the Sampo Group.
In connection with the combining of Sampo and Storebrand, Sampo's Board of Directors has proposed on 31 May 2001 to the Extraordinary General Meeting of today that Sampo's Board be supplemented. According to the Combination Agreement, Storebrand has the right to nominate two members to the Board of Directors of Sampo.
The Board of Directors of Storebrand have given the Election Committee in Storebrand a mandate to nominate two members to the Board of Directors of Sampo. To ensure that the nominations reflect the new ownership structure in Sampo, the Election Committee of Storebrand has decided that it wishes to see the Norwegian ownership in Sampo clarified before putting forward the proposal. Upon Storebrand's request, the election of new members will be postponed to an Extraordinary General Meeting to be held as soon as possible after the combination of Sampo and Storebrand ASA has been completed. Therefore, the Board of Directors of Sampo cancelled the proposal it had made to the General Meeting for the supplementation of the Board and, upon Storebrand's request, postpones the matter to be handled at a later General Meeting.
Head of Group Communications
FOR FURTHER INFORMATION, PLEASE CONTACT:
Taru Narvanmaa, Head of Investor Relations, tel. +358 10 514 0030, +358 50 590 9398.
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