The AMK of Pancretan Bank was approved

Get real time updates directly on you device, subscribe now.

The Extraordinary General Meeting of the Shareholders of Pancretan Bank was held in a very positive atmosphere, which decided to increase its share capital. The Assembly had a significant quorum. Approval for the increase was given by 99% of the represented shares.

Pankritia is a multi-share Bank with 85,387 Shareholders.

The Shareholders decided to reduce the nominal value of each share, from 5 euros to 0.50 euros, by increasing the number of shares by proportion ten new shares for each existing one and tenfold the total number of shares from 7,896,668 to 78,966. 680 (split). As a result, each old common registered share, with a nominal value of 5 euros each, will be replaced by ten new common registered shares, with a nominal value of 0.50 euros each. The relevant article of the Articles of Association was amended accordingly.

The Extraordinary General Meeting also decided to Increase the Share Capital of the Bank by paying cash and issuing 78,966,680 new common registered shares, after voting rights, granting the pre-emptive right to the old Shareholders of the Bank and with a ratio of one new share for each old share.

The Board of Directors was authorized by the General Meeting in order to determine the offering price of the new shares and to take all the necessary actions to complete the Share Capital Increase of the Bank.

Subsequently and with the authorization of the General Meeting, the Board of Directors met and set the offering price of the new shares in favor of the premium, at 1.25 euros each.

Following these and based on the decisions of the Extraordinary General Meeting, the Share Capital Increase of the Bank will amount to 98,708,350 euros (78,966,680 new common registered shares to 1.25 euros each).

During the General Meeting, the Chairman Mr. Dimitris Dimopoulos informed the shareholders of the Bank about the actions of the Board of Directors to date regarding its intended merger with the Cooperative Bank of Chania. The shareholders approved the actions so far as well as the content of the already signed Private Agreement between the Administrations of the two Banks.

The bank that will result from the merger, will be named Candia Bank, while its headquarters will be transferred to Athens.

The exchange ratio based on what has been provided after the split and the Capital Increase of Pancretan Bank will be as follows: For every 1 share of the Cooperative Bank of Chania, there will be 6 shares of Pancretan Bank.

The shareholders of Pancretan Bank and Cooperative Bank of Chania will be represented proportionally in the new Board of Directors.

The final decisions regarding the merger process will be taken by newer decisions of the Boards of Directors and the General Meetings of the two Banks, after the completion of the necessary financial audits by the Certified Auditors.

Statement of Management

The Management of Pancretan Bank invites its Shareholders to participate dynamically in the largest historically increase of its share capital, supporting the strategic planning for development and expansion of its operations, especially in combination with the acquisition of HSBC operations in Greece – a process that is in development – but also the friendly merger with the Cooperative Bank of Chania, with the aim of creating a new banking pole, capable of contributing dynamically to the development of the country. The Bank is modernizing, monitoring developments and forming a distinct role in the market, with significant specialization in small and medium-sized enterprises, at a time when challenges remain high at local and national level, guided by the benefit of its customers, shareholders and staff.

Advertisement

Source: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

www xxx xxx video tube freeproncom filmsex hindi xxxvdo xxx hd
buy kamagra buy kamagra online $255 payday loans online same day no denial payday loans direct lenders only