DNB : 08.12.2017 - DNB ASA - Share buy-back programme finalised

DNB ASA has finalised its share buy-back programme announced on 21 September 2017. A total of 5.4 million shares were repurchased in the open market, whereas a total of 2.7 million shares will be redeemed from the state of Norway, so that its ownership interest in DNB ASA of 34 per cent will remain unaffected following completion of the buy-back programme. The weighted average purchase/redemption price for the 5.4 million shares is NOK 155.75 and with this DNB ASA will return approximately NOK 837 million to shareholders.

This is the second share buy-back programme that DNB has finalised in 2017. The two programs, including the shares from the state of Norway, total 16.3 million shares. Of the 16.3 million, 10.8 million shares have been bought in the open market.

The 16.3 million shares will be cancelled subject to approval by the annual general meeting in 2018, whereby the number of DNB ASA's registered shares will be reduced by 1.0 per cent from today's 1 628 798 861.

For further information, please contact:

Investor contacts:
Rune Helland, head of Investor Relations, tel. ( 47) 23 26 84 00 / ( 47) 977 13 250
Amra Koluder, SVP Investor Relations, tel. ( 47) 23 26 84 08 / ( 47) 977 35 378

Background information about the finalised programme

DNB ASA has decided to initiate a share buy-back programme comprising up to 0.5 per cent of its registered shares, representing a total of 8.1 million shares.

The buy-back programme will be carried out on the basis of the authorization given by DNB ASA's annual general meeting on 25 April 2017, where it was approved that DNB ASA may repurchase shares up to a maximum of 1.5 per cent of its registered shares. DNB ASA may at a later stage decide to initiate further share buy-back programmes, up to the maximum limit approved by the annual general meeting.

Up to 5.4 million of the shares comprised by the buy-back programme will be repurchased in the open market. The remaining shares will be redeemed from the state of Norway through the Ministry of Trade, Industry and Fisheries, according to an agreement between DNB ASA and the state of Norway and subject to approval from DNB ASA's annual general meeting in 2018. According to the agreement, the state of Norway shall redeem shares on a proportionate basis so that its current ownership interest in DNB ASA of 34 per cent remains unaffected following completion of the buy-back programme.

DNB ASA will seek approval from the annual general meeting in 2018 for cancellation of the repurchased shares and a corresponding redemption of the proportionate number of shares owned by the state of Norway.The redemption of the shares owned by the state of Norway shall be made against a payment which shall correspond to an average volume weighted price of DNB ASA's repurchase of shares in the open market as a part of the buy-back programme, including an interest compensation and an agreed adjustment for dividend paid on the redemption shares in the buy-back period (if any). Subject to approval by the annual general meeting in 2018, the total number of registered shares of DNB ASA will be reduced by up to 0.5 per cent.