Piraeus Bank S.A. (hereafter the "Bank") announces that in accordance with Regulation 809/2004 of the European Commission and Law 3401/2005from Friday 10 August 2007 it shall place at the disposal of the investing public the Prospectus Supplement dated 09.08.2007, as approved by the Hellenic Capital Markets Commission, concerning the increase of the share capital of the Bank decided by the Board of Directors on 06.07.2007, following the authorization according to article 13 §1b of C.L. 2190/1920 of the 2nd Repetitive Ordinary General Meeting of the Bank's Shareholders held on 03.05.2007.
Specifically, at the meeting of the Board of Directors held on 06.07.2007 it was decided to increase the share capital of the Bank by euro 322.207.575,66 by cash payment and a right of pre-emption in favour of existing shareholders, at a rate of 1 new share to 4 existing shares, while at the same time to grant a pre-subscription right to the persons exercising the pre-emption rights and to the employees with respect to any unsubscribed New Shares as is more fully detailed in the Prospectus of the Bank dated 26.07.2007 and approved by the Hellenic Capital Markets Commission.
In total 67.548.758 new common registered shares of a par value of euro 4,77 each will be issued (hereafter "New Shares") having an issue price of euro 20,00 each (hereafter "Issue Price"), while it is expected that funds amounting to approximately euro 1.350.975.160 (67.548.758 Χ euro 20,00) will be raised.
Information concerning the procedure for subscription and exercise of pre-emption rights can be found in section 4.3 "PROCEDURE FOR THE EXERCISE OF PRE-EMPTION RIGHTS, PRE-SUBSCRIPTION RIGHT" of the Prospectus, as well as in section 3.1 "PROCEDURE FOR THE EXERCISE OF PRE-EMPTION RIGHTS, PRE-SUBSCRIPTION RIGHT" of the Supplement to the Prospectus dated 09.08.2007. The indicative timetable for the share capital increase is as follows:
Date Event
01.08.07 Ex Rights date
06.08.07 Credit by the Hellenic Exchanges of the pre-emption rights to the accounts of the beneficiaries in the CSD
07.08.07 Commencement of the subscription period and trading of the pre-emption rights on the ATHEX
09.08.07 Approval of the Prospectus Supplement by the HCMC
10.08.07 Announcement in the daily press and on the Daily Bulletin of the ATHEX regarding the availability and publication of the Prospectus Supplement and the period available to investors to renege on their subscription.
10.08.07 Publication of the Prospectus Supplement (on the websites of the Bank, the Hellenic Capital Markets Commission and the ATHEX)
13.08.07 Commencement of the period available to investors' to renege on their subscription
16.08.07 End of period available to investors to renege on their subscription
03.09.07 End of trading of the pre-emption rights
07.09.07 End of period for exercising the pre-emption rights
12.09.07 Announcement on the Daily Bulletin and the website of the ATHEX regarding the pre-emption rights exercised, the pre-subscriptions and the unsubscribed New Shares
13.09.07 Admission to listing of the New Shares by ATHEX
14.09.07 Announcement on the Daily Bulletin and the ATHEX website regarding the commencement date of trading of the New Shares
18.09.07 Commencement of trading of the New Shares
According to article 16 of L. 3401/2005 investors who will have exercised their pre-emption right and/or their pre-subscription right for the New Shares before the publication of the Prospectus Supplement dated 09.08.2007 may renege on their subscription within three (3) working days of its publication.
It is noted that the above timetable depends on several variable factors and may be changed. For the procedure of the share capital increase and its timetable, there will be additional announcements to investors, as provided for by the relevant legislation. The shares which will be issued shall form the subject of an application for listing in the "BIG CAPITALIZATION" category of the ATHEX. In order for the admission and trading of the New Shares on the ATHEX to be completed, the relevant application of the Bank must be approved by the Board of Directors of the ATHEX.
The Prospectus Supplement will be published in electronic form on the Bank's website, at the electronic address "http://www.piraeusbank.gr/ecPage.asp?id=275153&lang=1&nt=78&sid=" as well as on the ATHEX website "http://www.ase.gr" and the Hellenic Capital Markets Commission website "http://www.hcmc.gr" on Friday, 10 August 2007. The Prospectus Supplement can also be obtained in printed form and free of charge upon request by the branch network of PIRAEUS BANK. For further information, shareholders can contact the Shareholders Service Department (tel. 210 32 88 737, 210 - 33 35 211 and 210 - 32 88 011).