NN Group Cancels Share Warrants Held by ING
November 15 2018 - 5:27AM
Dow Jones News
By Adam Clark
Dutch insurance company NN Group NV (NN.AE) said Thursday that
it has paid 76 million euros (485.9 million) to cancel a warrant
agreement with ING Groep NV (INGA.AE).
NN said the payment eliminates warrants for 35 million shares
which ING had the right to exercise at EUR40 per share, which would
have expired in July 2024. The deal eliminates the potential for
share dilution, NN said.
The payment will be funded from existing cash and recognized as
a reduction of NN's equity and own funds in its fourth-quarter
results. The deal won't affect NN's operating or net profit, or
have a material impact on its solvency capital ratio, the company
said.
Shares at 0953 GMT were up 2.2% at EUR38.66.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
November 15, 2018 05:12 ET (10:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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