Key Developments: Aktia Bank Plc (AKTAV.HE)

AKTAV.HE on Helsinki Stock Exchange

9.49EUR
24 Oct 2014
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€-0.20 (-2.06%)
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Latest Key Developments (Source: Significant Developments)

Aktia Bank proposes FY 2013 dividend of EUR 0.42 per share
Wednesday, 12 Feb 2014 06:00am EST 

Aktia Bank Plc:Proposes FY 2013 dividend of 0.42 euro per share.Paid dividend of 0.36 euro per share for FY 2012.  Full Article

Aktia Bank Plc and Voyrin Saastopankki sign definitive merger agreement
Monday, 23 Dec 2013 04:15am EST 

Aktia Bank Plc:Says Aktia Bank and the savings bank Voyrin Saastopankki have signed a definitive agreement on the merger between Voyrin Saastopankki and Aktia Bank.Says a stock exchange release regarding the letter of intent to merge was published by Aktia Bank on Oct. 24.Says the transaction is to be implemented as conveyance of the bank business operations of Voyrin Saastopankki to Aktia Bank, on which Voyrin Saastopankki will be transformed into a foundation (Vora Sparbanks Aktiastiftelse).Says in this transaction, the unencumbered value of Voyrin Saastopankki business operations is estimated to about 11 million euros.Says the estimated affect of the transaction on Aktia Bank's result and key figures is neutral.Says the merger is expected to take place at the latest in the third quarter of 2014.Says as earlier informed, Voyrin Saastopankki's foundation will use a part of the purchase sum to buy approx. 1 pct of Aktia Bank on the market in the period up until Feb. 28, 2015.  Full Article

Aktia Bank Plc Announced Results of Codetermination Negotiations
Tuesday, 5 Nov 2013 05:00am EST 

Aktia Bank Plc announced that the codetermination negotiations started in Aktia Group on October 8, 2013 have been completed for the part concerning Aktia Bank plc. The codetermination negotiations resulted in a staff reduction of approximately 50 persons. Initially, the estimated staff reduction was 65 persons at a maximum.  Full Article

Aktia Bank Plc and Saaristosaastopankki Sign Definitive Merger Agreement
Wednesday, 30 Oct 2013 10:50am EDT 

Aktia Bank Plc announced that the Bank and the savings bank Saaristosaastopankki have signed a definitive agreement on the merger between the parties. Upon receipt of necessary approvals, the transaction was carried out so that the owners of Saaristosaastopankki sold all shares in Saaristosaastopankki to Aktia Bank. Henceforth, Saaristosaastopankki will operate as a subsidiary to Aktia Bank, and the two banks will merge as soon as possible. The merger is planned to take place during the first half of 2014. The transaction price amounts to EUR 6.9 million. Before the conveyance, Saaristosaastopankki paid EUR 2.3 million as extra dividend to its old shareholders. The transaction price will be paid in cash. The total transaction price, including an optional extra purchase price, may rise to a maximum amount corresponding the net asset value of Saaristosaastopankki, providing that targeted improvement of result is achieved in the following three years.  Full Article

Aktia Bank Plc Plans to Merge with Voyrin Saastopankki
Thursday, 24 Oct 2013 02:30am EDT 

Aktia Bank Plc announced that the Company and Voyrin Saastopankki have signed a pre-agreement on merger. The merger is to be implemented as conveyance of the business operations of Voyrin Saastopankki to Aktia Bank plc. In this transaction, the net value of Voyrin Saastopankki's business operations is estimated to approximately EUR 11 million. The estimated affect of the transaction on Aktia Bank's result and key figures is neutral. The parties involved aim to close the agreement on merger by the end of 2013, and the implementation of the transaction is expected to take place during the first half of 2014. Voyrin Saastopankki, which following the transaction will be transformed into a foundation, will use a part of the purchase sum to buy approximately 1% of Aktia Bank’s shares on the market in the period up until February 28, 2015. Voyrin Saastopankki has approximately 4,300 customers, a business volume of approximately above EUR 90 million, a Tier 1 capital ratio of above 30% and 9 employees who will be transferred to Aktia Bank as so-called long-service employees.  Full Article

Aktia Bank Plc Initiates Codetermination Negotiations Possibly Resulting in 65 Redundancies
Tuesday, 8 Oct 2013 02:30am EDT 

Aktia Bank Plc announces that in certain regional and central functions of the Company, codetermination negotiations are initiated regarding measures to enhance effectiveness and reorganizing of business operations. At the same time, codetermination negotiations are also initiated at Aktia Life Insurance Company Ltd. The estimated reduction of Aktia Group's staff is approximately 95 persons, of which approximately 65 persons risk to be made redundant. The measures planned are based on the Action Plan 2015 as approved by Aktia's Board of Directors and previously communicated. Said measures are expected to lower annual costs by EUR 5-6 million when they have been implemented in 2014.  Full Article

Aktia Bank Abp Issues EUR 300 Million Senior Unsecured Bond
Thursday, 3 Oct 2013 07:00am EDT 

Aktia Bank Abp announced that the Company has issued a EUR 300 million senior unsecured bond targeted at international and domestic institutional investors. The bond has a maturity of four years and will be listed on the Luxembourg Stock Exchange. The issue was more than one and a half times oversubscribed.  Full Article

Aktia Bank Abp and Saaristosaastopankki Oy Sign Letter of Intent to Merge
Tuesday, 6 Aug 2013 12:50am EDT 

Aktia Bank Abp (Aktia Bank) announced that Aktia Bank and the savings bank Saaristosaastopankki Oy (Saaristosaastopankki) have signed a letter of intent to merge. In the transaction, Saaristosaastopankki is valued to net asset value at a maximum. In the letter of intent, Saaristosaastopankki's owner foundations commit acquisition of shares corresponding to approx. 1% of Aktia Bank's shares in the period up until the next Annual General Meeting. Aktia Bank aims to put an option to, if necessary, issue or sell own shares to the owner foundations of Saaristosaastopankki at a rate corresponding Aktia Bank’s net asset value per share (as at June 30, 2013), should the foundations not buy shares in public trading to a lower valuation. Following the transaction, Saaristosaastopankki would be incorporated in, and its activities be continued by Aktia Bank. The employees of Saaristosaastopankki would be transferred to Aktia Bank as so-called long-service employees. The parties will evaluate alternative ways to merge, and enter into a final agreement without delay. The transaction is subject to approval by the Finnish Financial Supervisory Authority.  Full Article

Aktia Abp Updates on FY 2013 Operating Profit Guidance
Tuesday, 7 May 2013 01:00am EDT 

Aktia Abp announced that despite the probably persistent low interest rate level and one-off costs from the Action Plan 2015, the Company's operating profit from continuing operations for the fiscal year 2013 is expected to reach approximately the fiscal year 2012 level, when it was EUR 56.0 million.  Full Article

Aktia Abp Updates on Merger with Aktia Bank plc
Tuesday, 9 Apr 2013 11:30am EDT 

Aktia Abp announced that the Annual General Meeting of the Company held on April 9, 2013 approved the merger with Aktia Bank plc. The planned effective date of the merger is July 1, 2013.  Full Article

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