Update on the intended offer by Saxo Bank for BinckBank
This is a joint press release by BinckBank N.V. (BinckBank) and Saxo Bank A/S (Saxo Bank), pursuant to the provisions of Section 7 Paragraph 1 sub a of the Decree on Public Takeover Bids (Besluit openbare biedingen Wft) (the Decree) in connection with the intended public offer by Saxo Bank for all the issued and outstanding shares in the capital of BinckBank. This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities. Any offer will be made only by means of an offer memorandum. This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, the United States, Canada or Japan or in any other jurisdiction in which such release, publication or distribution would be unlawful.
Amsterdam, the Netherlands / Copenhagen, Denmark – 14 January 2019
Reference is made to the joint press release by BinckBank and Saxo Bank dated 17 December 2018 in respect of the intended recommended public offer to be made by Saxo Bank for all the entire issued and outstanding share capital of BinckBank at an offer price of EUR 6.35 in cash per share (cum dividend) (the Offer).
Pursuant to the provisions of Section 7, paragraph 1 sub a of the Decree, requiring a public announcement including a status update regarding an intended public offer within four weeks following its announcement, BinckBank and Saxo Bank hereby provide this joint update on the Offer.
BinckBank and Saxo Bank confirm that they are making good progress on the preparation for the Offer. Saxo Bank expects to submit a request for review and approval of the offer document in relation to the Offer with the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) early February 2019, which is before the applicable deadline under Dutch law.
In addition, BinckBank and Saxo Bank confirm that the process to obtain the required regulatory clearances for the Offer is proceeding. Based on the required steps and subject to the necessary approvals, BinckBank and Saxo Bank anticipate that the Offer will close at the end of the second quarter or in the first half of the third quarter of 2019.
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo
BinckBank is an online bank for investors and savers, established in the Netherlands and listed on the Euronext Amsterdam exchange. BinckBank’s services are deployed from its head office in the Netherlands and its local branches in Belgium, France, and Italy, and representation in Spain. BinckBank offers services in investment, asset management and savings, and targets its services to retail customers, businesses/legal entities, and independent asset managers. An important feature of BinckBank’s online services is a stable platform that gives users access to important financial markets, professional trading facilities, and analysis tools.