2013-03-22 08:29:59 -
The Supervisory Board has at its meetings on 21 March 2013 passed resolutions
Approval of the annual accounts for 2012, including distribution of the profit
for the year
The Supervisory Board voted that the annual accounts as presented and with
additional information should be adopted as the Bank's annual accounts for 2012.
The Supervisory Board resolved that the profit for the year should be
distributed as follows:
Dividend on ECs (NOK 1.50 per EC) NOK 195m
Transferred to equalisation fund
Transferred to ownerless capital
Allocated to non-profit causes
The Board of Directors is authorised to distribute the amount allocated to non-
Note was taken of the following: the report of the Board of Directors,
senior employees' terms and conditions, the audit report, the
control committee's report and the corporate governance report.
Authorisation to issue subordinated debt and hybrid debt
The Supervisory Board authorises the Board of Directors to raise subordinated
loans, collectively or separately, in Norwegian currency or the equivalent in
foreign currency, distributed as follows:
Dated subordinated debt NOK 1,000m
Perpetual subordinated debt NOK 1,000m
This authorisation remains valid until the final accounts for 2013 are adopted.
Authorisation to acquire and establish a security interest in the Bank's
The Supervisory Board unanimously authorises the Board of Directors to purchase,
and to establish a security interest in, the Bank's treasury ECs in a total
nominal amount of NOK 200m within the limits set forth in law and regulations
and on the following terms:
I. The overall holding of ECs owned by the Bank and/or in which it has a
consensual security interest may not exceed 10 per cent of the Bank's
issued EC capital.
II. The smallest amount payable for ECs is NOK 1 and the highest amount is NOK
III. This limit also applies to any consensual security interest such that the
claim which the security interest is to cover must be within the said
IV. Purchase of ECs shall take place in the securities market via Oslo Børs.
Disposal shall take place on the same market, in the event as a placing
with employees in accordance with applicable laws and regulations.
V. The authorisation is valid for 13 months as from 21 March 2013.
VI. The authorisation replaces the existing repurchase authorisation.
Election of chair and deputy chair of the Supervisory Board
Randi Dyrnes was re-elected as chair for a period of one year.
Widar Slemdal Andersen was elected as new deputy chair for a period of one year.
Election of members and alternates to the Board of Directors
Kjell Bjordal was re-elected as Board member for a period of two years.
Bård Benum was re-elected as Board member for a period of two years.
Paul E. Hjelm-Hansen was re-elected as Board member for a period of two years.
Morten Loktu was elected as new Board member for a period of two years.
Bente Karin Trana was re-elected as 1st alternate for a period of one year.
Pål Hofstad was elected Hofstadas new 2nd alternate for a period of one year.
Randi Sollie Denstad was elected as new 3rd alternate for a period of one year.
Jan Gunnar Kvam was re-elected as regularly attending alternate for the
employees for a period of one year.
Election of chair of the Board of Directors
Kjell Bordal was elected as new chair of the Board of Directors for a period of
Election of deputy chair of the Board of Directors - special election
Bård Benum was elected as new deputy chair of the Board of Directors for a
period of two years.
Election of Control Committee
Terje Ruud was re-elected as member of the Control Committee for a period of two
Terje Lium was elected as new member of the Control Committee for a period of
Ingvild Kjerkol was re-elected as 2nd alternate to the Control Committee for a
period of two years.
Election of chair and deputy chair of the Control Committee
Terje Lium was elected as chair of the Control Committee for a period of two
Anders Lian was re-elected as deputy chair of the Control Committee for a period
of two years.
Election to the Supervisory Board's Election Committee
Jonny Meland was re-elected as representative for the public appointees for a
period of two years.
Lars B. Tvete was elected as new member as representative for the EC holders for
a period of two years.
Jan Yngvar Kiel was elected as representative for the depositors for a period of
Rolf Bratlie was re-elected as alternate for the employees for a period of two
Election of chair of the Supervisory Board's Election Committee
Lars B. Tvete was elected as new chair of the Supervisory Board' Election
Committee for a period of two years.
About SpareBank 1 SMN
SpareBank 1 SMN is the region's leading financial services group. It leads the
retail and corporate market, and is positioned in 43 localities across the
region's municipalities with a total of 51 offices.
We aim to be the recommended bank for customers in Trøndelag and in Møre and
Romsdal. Being a local, independent savings bank we feel a special
responsibility for stimulating growth and prosperity in the region. We base our
business on closeness to our customers, good accessibility, a full product range
and comprehensive financial advisory services.
Our head office is in Trondheim. The Group employs about 1,200 staff and
includes the following subsidiaries: SpareBank 1 SMN Finans, EiendomsMegler 1
Midt-Norge, Allegro Finans and SpareBank 1 SMN Regnskap. It is the largest
shareholder in BN Bank with a 33% stake.
SpareBank 1 SMN is one of six owners of SpareBank 1 Gruppen. For further
information, visit our website at www.smn.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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Source: SpareBank 1 SMN via Thomson Reuters ONE