Saxo Bank to put to vote increase in share capital for settling offer for BinckBank

Maria Nikolova

The proposal will be put to vote at an extraordinary general meeting of Saxo Bank A/S, to be held on July 24, 2019, at 12am.

Online trading services provider Saxo Bank will convene an extraordinary general meeting for the purpose of voting on proposed increase in share capital. The meeting is set to be held on July 24, 2019, at 12am, at the company’s premises, Philip Heymans Allé 15, 2900 Hellerup, Denmark.

The single item on the agenda is a proposal to authorise the Board of Directors to increase the company’s share capital for the purpose of settling the recommended public offer by Star Bidco B.V., a direct wholly-owned subsidiary of Saxo, for the shares in BinckBank N.V., once the offer is declared unconditional and Saxo must fund the settlement.

Under the proposal, Saxo’s share capital will be increased from nominally DKK 68,283,943 by nominally DKK 5,153,506 to nominally DKK 73,437,449 by cash contribution.

It is proposed that a new Article 5a be inserted as follows:

  • “5a.1 The board of directors is authorised until 31 December 2019 – with right of pre-emption for the Company’s shareholders – to resolve upon one or more capital increases, by cash contribution through subscription for new shares, by up to a total of nominally DKK 5,153,506.
  • 5a.2 The capital increases shall take place at a price of EUR 19.4042690 per share of nominal value of DKK 1 in the Company.
  • 5a.3 The new shares shall of the same class as the existing shares, shall be fully paid, shall be non-negotiable instruments and shall not be subject to restrictions on transfer except as set out in article 4.4 of the Articles of Association. No shareholder shall obliged to have the new shares redeemed neither fully nor partially. In addition, the board of directors shall set the detailed terms and conditions for capital increases implemented pursuant to the authorisation.”

The Board of Directors notes that the proposed authorization of the Board of Directors to increase the Company’s share capital requires a majority of 85% of share capital represented at the general meeting and the votes cast at such general meeting, cf. Article 11.6 of the Articles of Association.

Shareholders will be granted access to the extraordinary general meeting upon submission of the request for an admission card no later than July 19, 2019.

Read this next

Digital Assets

Masa Announces Comprehensive AI Developer Ecosystem with 13 Dynamic Partners Focused on Leveraging Decentralized Data and Large Language Models

In a groundbreaking development, Masa, the global leader in decentralized AI and Large Language Models (LLMs), proudly announces the launch of its AI Developer Ecosystem, partnering with 13 visionary projects.


Kinesis Mint becomes the official partner for the House of Mandela

Kinesis Mint, the certified independent precious metals mint and refinery of Kinesis, the monetary system backed by 1:1 allocated gold and silver, has been appointed the exclusive coin producer for the House of Mandela.


Kadena Announces Annelise Osborne as Chief Business Officer

Kadena, the only scalable Layer-1 Proof-of-Work blockchain, expands its leadership team by onboarding Annelise Osborne as Kadena’s new Chief Business Officer (CBO).


TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”


Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”


Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.