February 10, 2017 / 9:16 AM / 5 months ago

BRIEF-Finland's Sampo wants half of board seats in Topdanmark

2 Min Read

Feb 10 (Reuters) - Finnish financial holding company Sampo wants to triple its number of members at the board of Topdanmark, the Danish insurer of which it owns around 42 percent.

* Topdanmark says Sampo has announced it wants to increase its number of members from one to three

* Sampo to propose Ricard Wennerklint and Petri Niemisvirta as new members; current board member Birgitte Nielsen not to seek re-election

* Topdanmark says it is expected that Torbjorn Magnusson, who is the current representative of Sampo, will become the chairman of the board after AGM on April 4

* Sampo is also proposing for Topdanmark shareholders to scrap share buybacks and reinstate dividend payouts

* Sampo launched a mandatory takeover offer for Topdanmark last year, but offered no premium

* Sampo - which also owns Topdanmark's rival If as well as a fifth of shares in Nordea Bank - is expected to take over the remaining share in Topdanmark at some point at a right price Source text for Eikon: Further company coverage: (Reporting by Jussi Rosendahl, Gdynia Newsroom)

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