DGAP-UK-Regulatory: Settlement of bankTrelleborg claims

DGAP-UK-Regulatory: Settlement of bankTrelleborg claims

Sydbank A/S  / Miscellaneous

07.08.2013 09:25

Dissemination of a UK Regulatory Announcement, transmitted by
DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Aabenraa, 2013-08-07 09:25 CEST (GLOBE NEWSWIRE) --
Sydbank has made a settlement with a group of minority shareholders
('Foreningen af Minoritetsaktionaerer i bankTrelleborg') where the Bank offers
to pay damages to former minority shareholders of bankTrelleborg in respect of
their claims in connection with the IPO of bankTrelleborg in 2007 and the
subsequent compulsory redemption of the shares in bankTrelleborg. As a result
of the settlement Sydbank will pay up to DKK 135m in damages and costs. 

As part of the settlement the two class action claims filed against Sydbank by
'Foreningen af Minoritetsaktionaerer i bankTrelleborg' concerning inadequacies
in the prospectus of bankTrelleborg will be withdrawn. 

Moreover Sydbank has made a settlement with Fonden for bankTrelleborg for the
payment of DKK 94.5m as compensation for Sydbank's payment of damages to the
minority shareholders. 

Sydbank will seek to recover the remainder of the expenses for the payment of
damages to the minority shareholders from the professional advisers who
assisted in the preparation of the prospectus of bankTrelleborg and/or from the
insurance company with which prospectus liability insurance has been taken out. 

Yours faithfully

Karen Froesig, Group Chief Executive

Preben L. Hansen, Deputy Group Chief Executive

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News Source: NASDAQ OMX

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Language:           English
Company:            Sydbank A/S
ISIN:               DK0010311471
Category Code:      MSC
LSE Ticker:         0G6U
Sequence Number:    1569
Time of Receipt:    Aug 07, 2013 09:25:00
End of Announcement                             DGAP News-Service
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