Attica Bank: Issued 271,448,946 warrants in favor of the Greek State

Attica Bank informs the investing public that its Board of Directors during the meeting of 20-07-2022, in the context of the implementation of its capital strengthening operations, and in accordance with the provisions of Article 27A of Law 4172/2013 (“DTC”) and the relevant articles of the Act of the Council of Ministers 28/06.07.2021, as amended by Act No. 34/25-08-2021 Act of the Council of Ministers (collectively “PA”), unanimously adopted the following decisions:

It ascertained the formation of – in accordance with the provisions of the law and the PYS special reserve, in the amount of 22,817,998.42 and the collection of the said amount by the Greek State, while it further decided to issue 271,448,946 free (without consideration) title deeds of common shares (the “securities”) in favor of the Hellenic State in accounting form and the delivery thereof by ownership to the Hellenic State with credit thereof to the Securities Account held by the Hellenic State in the system of the central securities depository.

It also decided that the existing shareholders have the right to redeem the securities in proportion to their participation in the share capital on the date of the General Assembly of 07.05.2022 with a redemption price of 0.08406 euros per security. It is noted that in accordance with the relevant provisions, the securities will be offered through the redemption right to the Bank’s shareholders, at a deadline to be announced by the Bank, after the completion of the procedures for reducing the nominal value of the Bank’s share in accordance with the decisions of the General Assembly and of PYS. The Bank of Greece has already approved the relevant reduction with its decision and it is expected to be registered in GEMI.

The securities will then be admitted to trading on a regulated market for a short period of time and will then be automatically converted into common nominal shares of the Bank with a ratio of one security to one share. As, according to article 7 of the PYS, the securities are securities within the meaning of paragraph 44 of article 4 of Law 4548/2018 (A’ 14) and paragraph e of paragraph 3 of article 1 of Law . provided for in Regulation (EU) 2017/1129.

It approved the cooperation with the specialized legal offices “Orrick, Herrington and Sutcliffe”, regarding issues of European/foreign law and regulations, and “Sardelas Petsa Law Firm” regarding issues of local law, in order to support the Bank in drafting the above Prospectus as well as supplements to that which may be required in the context of the implementation of other capital support operations, as decided by the Bank and its shareholders. In matters of DTC implementation, the Bank cooperates with the legal office “A.S. Papadimitriou & Associates Law Firm”.

It is noted that the process of implementing actions to strengthen supervisory capital based on the relevant program is being completed with the integration of the collected data into the Bank’s capital plan and business plan, which are expected to be submitted to the Bank’s internal bodies and the competent supervisory authorities in the near future space.

The Bank will come back with a newer announcement with details on the above process and the progress of the implementation of the capital strengthening operations

Source: Capital

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