Sampo's offer has been unconditionally accepted by shareholders representing 52.4 per cent of the shares in Storebrand. In addition, some shareholders, including Folketrygdfondet and Orkla, holding in aggregate 31.1 per cent the shares in Storebrand have accepted the offer subject to certain conditions. These conditions relate, inter alia, to Sampo either having received acceptances from shareholders representing more than 90 per cent of the shares of Storebrand or having received necessary exemptions from Norwegian authorities to hold less than 90 per cent of the shares of Storebrand by August 15, 2001.
"The Board of Sampo is very encouraged by this strong level of shareholder support and is firmly committed to a successful completion of the Storebrand transaction", comments Mr Björn Wahlroos, CEO of Sampo.
Sampo's offer is conditional, inter alia, upon Sampo receiving acceptances from shareholders representing more than 90 per cent of the shares and voting power in Storebrand.
As the conditions of the offer have not been met or waived during the offer period, the Board of Directors of Sampo has today decided to extend the offer period until August 10, 2001 at 5 p.m. Norwegian time.
Pursuant to the terms of the offer, the acceptances of the offer made during the initial acceptance period are binding also during the extended acceptance period.
Encouraged by the strong level of shareholder support and reflecting the conditions set by some of Storebrand´s shareholders, Sampo has decided to file an application with the Norwegian authorities to hold less than 90 per cent of the shares in Storebrand.
Head of Group Communications
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Björn Wahlroos, CEO, tel +358 10 514 0000
Mr. Kari Stadigh, Deputy CEO, tel. +358 10 514 0004
Ms. Taru Narvanmaa, Head of Investor Relations,
tel. +358 10 514 0030, mobile +358 50 590 9398
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