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2007-04-02 13:45:00 CEST 2007-04-02 13:45:00 CEST REGULATED INFORMATION OKO Pankki Oyj - Company AnnouncementArbitration court ruling in shareholder agreement disputeArbitration court ruling in shareholder agreement dispute In its ruling today, a court of arbitration obligated OKO Bank to pay 32 savings banks a total of around EUR 8.8 million in liquidated damages, plus interest and expenses. The impact of the arbitration court ruling on the OKO Bank first quarter consolidated earnings before tax is around EUR 10 million. In accordance with the ruling of the arbitration court, Pohjola Group plc (Pohjola) had substantially violated provisions in the shareholder agreement on Nooa Savings Bank Ltd. The dispute on the shareholder agreement was related to the transaction through which OKO Bank, on 12 September 2005, acquired the majority shareholding in Pohjola from Suomi Mutual Life Assurance Company and Ilmarinen Mutual Pension Insurance Company. After the transaction, cooperation between the savings banks and Pohjola regarding Nooa Savings Bank came to an end. Pohjola merged with OKO Bank at the end of 2006. OKO Bank plc Markku Koponen Senior Vice President DISTRIBUTION Helsinki Stock Exchange London Stock Exchange SWX Swiss Exchange Principal media FOR MORE INFORMATION, please contact Mr Mikael Silvennoinen, President and CEO, tel. +358 10 252 2549 Mr Ilkka Salonen, CFO, tel. +358 10 252 3146 |
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