An article in the Dagens Næringsliv newspaper on 27 March 2020 shows a need for further information regarding the group’s shareholding.
The group’s holding of quoted shares, as presented in the annual report for 2019 in note 30, relates in all essentials to futures trading carried out by SpareBank 1 Markets. These exposures represent no share price risk for SpareBank 1 Markets or for SpareBank 1 SMN. It is the purchaser of share futures that carries the entire share price risk on the underlying shares. Moreover, customers provide collateral in the form of cash, and margin payments on customers’ accounts are made on a daily basis to ensure that no open credit risk arises in connection with futures trading.
Trondheim, 27 March 2020
Contact persons at SpareBank 1 SMN:
Executive director, Finance, Kjell Fordal on +47 905 41 672
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act