Inactive Instrument

Bankia

Equities

BKIA

ES0113307062

Bankia : and BMN complete their legal merger with the registration of the transaction in the Commercial Registry

January 08, 2018 at 12:09 pm EST

Now that the merger deed has been registered, the exchange of BMN shares for Bankia shares will go ahead
The exchange ratio will be one Bankia share for every 7.82987 shares of BMN
To carry out the share swap, Bankia will issue 205,630,814 new shares with a nominal value of one euro per share
It is expected that BMN shareholders will have the Bankia shares delivered in the exchange at their disposal no later than 12 January and that those shares will be admitted to trading on or around 15 January

The deed of the merger between Bankia and BMN was registered today, Monday, in the Valencia Commercial Registry, thus bringing the merger into effect.

The creation of a single legal entity will allow the resulting bank to consolidate its franchise as the fourth largest financial institution in the Spanish market, with managed assets of 223,000 million euros.

Once the authorisations required by the Spanish government and regulatory and supervisory bodies had been obtained, registration in the Commercial Registry was a prerequisite to be able to proceed with the exchange of BMN shares for Bankia shares.

The exchange ratio finally set is one ordinary share of Bankia, with a nominal value of one euro, for every 7.82987 ordinary shares of BMN, also with a nominal value of one euro per share, with no additional cash consideration.

To carry out the exchange, Bankia will issue a total of 205,630,814 new shares with a nominal value of one euro per share.

GVC Gaesco Beka will act as agent for the merger exchange and will also be the odd-lot agent, tasked with acquiring any shares or fractions of shares of BMN which, under the exchange ratio, do not entitle their holders to receive one whole share of Bankia.

The bank expects that BMN shareholders will have the Bankia shares delivered in the exchange at their disposal no later than 12 January 2018.

Furthermore, it is expected that the new shares issued in the merger will be admitted to trading on the Spanish stock exchanges on or around 15 January.

The merger was approved by the two companies' General Meetings of Shareholders on 14 September 2017 in accordance with the terms of the Common Draft Terms of Merger reported on 26 June last year.

Bankia SA published this content on 08 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 08 January 2018 17:09:07 UTC.

Original documenthttp://www.bankia.com/en/communication/in-the-news/press-releases/bankia-and-bmn-complete-their-legal-merger-with-the-registration-of-the-transaction-in-the-commercial-registry.html

Public permalinkhttp://www.publicnow.com/view/42F7F7DA47CD2EA3F87DDB1EEDA180E9284BA2ED

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Bankia, S.A. is a banking group organized around three areas of activity: - retail banking (63.5% of Net Interest Income): sales of standard and specialized banking products (consumer credit, insurance, etc.); - business banking (19.7%); - other (16.8%). At the end of 2019, the group was managing EUR 124.8 billion in current deposits and EUR 117.4 billion in current loans. Products and services are marketed via a network of 2,275 branches located in Spain.

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