S-Pankki starts the redemption procedure for the remaining Oma Säästöpankki shares

S-Bank said that he would start the redemption procedure regarding My Savings Bank remaining minority shares.

S-Bank announced at the beginning of July that it will launch a purchase offer for all issued and outstanding shares of Oma Säästöpankki, which are not held by Oma Säästöpankki or its subsidiaries.

S-Pankki has so far managed to acquire 96.78 percent of all Oma Säästöpankki’s issued and outstanding shares and votes, excluding Oma Säästöpankki’s own shares.

A share of more than 90 percent enables the redemption of the shares of the remaining minority owners.

S-Bank has decided to exercise its redemption right based on the Limited Liability Companies Act and redeem the shares owned by all other remaining Oma Säästöpankki shareholders.

According to S-Bank’s press release, the company will demand that the redemption price of the remaining shares be set at EUR 17.20 per share in the redemption procedure.