Allgemeine Sparkasse O? Bank AG, AT0000212550

Allgemeine Sparkasse O? Bank AG, AT0000212550

23.11.2021 - 11:31:09

EQS-Adhoc: Allgemeine Sparkasse O? Bank AG: AD-HOC NOTICE PURSUANT TO ART. 17 MAR

AD-HOC NOTICE PURSUANT TO ART. 17 MAR

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Allgemeine Sparkasse Ober?sterreich Bankaktiengesellschaft ("ASK") has approved a framework agreement, the implementation of which will effect the share capital of ASK being reduced from currently EUR 64,371,086.00 by EUR EUR 11.426.848,81 to EUR 52.944.237,19 and the participation of Erste Bank der oesterreichischen Sparkassen Aktiengesellschaft in ASK being reduced to 10%.

Linz, Republic of Austria, 23.11.2021 - The management board and the supervisory board of Allgemeine Sparkasse Ober?sterreich Bankaktiengesellschaft ("ASK" or the "Company") have approved a framework agreement with Anteilsverwaltung Allgemeine Sparkasse, 4020 Linz, Promenade 11-13 ("AVS"), which holds 57.27% of the shares in ASK, and Erste Bank der oesterreichischen Sparkassen Aktiengesellschaft, 1100 Vienna, Am Belvedere 1 ("EB?"), which holds 39.19% of the shares in ASK. According to this framework agreement, EB?'s stake in ASK is to be reduced from around 39% at present to around 10% in the future. Such reduction shall be achieved through a combination of the sale of ASK shares from EB? to AVS on and a reduction in the share capital of ASK ("Framework Agreement").

In implementation of the Framework Agreement, EB?'s shareholding in ASK is to be reduced accordingly immediately after the ordinary general meeting for the 2021 financial year. Further, in 2022 a reduction of the share capital of ASK from currently EUR 64,371,086.00 by EUR 11.426.848,81 to EUR 52.944.237,19 shall be resolved and ASK shall acquire the respective shares from EB? for cancellation. In the Framework Agreement, AVS and EB? shall commit to exercise their voting rights in the ordinary general meeting of ASK in favor of the agreed reduction of capital.

In the Framework Agreement, AVS undertakes to EB? to purchase such amount of shares in ASK from EB? that as a result of these purchases, EB?'s stake in ASK is reduced to 10%.

The Framework Agreement is subject to conditions precedent, including (i) the permission of the ECB to reduce the share capital of ASK, (ii) the permission by the Financial Markets Authority regarding the reduction of the indirect participation of Erste Group Bank AG ("EGB") and the direct participation the EB? in ASK.

In connection with the intended reduction in the share capital of ASK, ASK intends to issue Additional Tier 1 Instruments.

Name of the Company: Allgemeine Sparkasse Ober?sterreich Bankaktiengesellschaft Promenade 11 - 13 4020 Linz Republic of Austria Contact: Allgemeine Sparkasse Ober?sterreich Bankaktiengesellschaft Promenade 11 - 13 4020 Linz Martin Punzenberger ISIN: AT0000212550 AT000B100763 AT000B100896 AT000B100953 AT000B100987 AT000B101100 AT000B101191 AT000B101308 AT000B101357 AT000B101407 Relevant Markets: Official Market of the Vienna Stock Exchange

23-Nov-2021 CET/CEST News transmitted by EQS Group AG. www.eqs.com

Language: English Company: Allgemeine Sparkasse O? Bank AG Promenade 11-13 4021 Linz

Austria Phone: +43 50 100 40000 Fax: +43 50 100 9 40000 E-mail: info@sparkasse-ooe.at Internet: www.sparkasse-ooe.at ISIN: AT0000212550, AT000B100763, AT000B100896, AT000B100953, AT000B100987, AT000B101100, AT000B101191, AT000B101308, AT000B101357, AT000B101407, WKN: A0AV22 Listed: Foreign Exchange(s) Vienna Stock Exchange (Official Market) EQS News ID: 1251307 ? End of Announcement EQS Group News Service

1251307??23-Nov-2021?CET/CEST

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