The 1st Repeated General Meeting of Shareholders Holding Preferred Shares of EGNATIA BANK, which was postponed as the quorum was not formed, took place today, 11th July 2006.
The following decisions were taken during EGNATIA BANK's 1st Repeated General Meeting of Preferred Shareholders:
- A capital increase of euro 93,9 million with the issue of 18,6 million common shares and 2,2 million preferred shares at a price of euro 4,5 per share in a ratio of 1 new share to 5 old ones.
- Distribution of up to 2 million shares to Group staff from those shares which will remain unclaimed by beneficiaries who would not exercise their pre-emptive right. In the event that the number of shares that will remain unclaimed will be less than 2 million shares, then the Bank's main shareholders will make up the difference.
- The issue of convertible bonds up to the amount of euro 400 million with a conversion rate of euro 7,60 and of bonds up to the amount of euro 600 million, for the purpose of improving both liquidity and the Group's capital adequacy. The shareholders authorised the Board the Directors to determine the time frame and terms and conditions for both bond issues.
It is reminded that the above issues had been equally decided upon by the General Meeting of Common Shareholders of the 22nd June 2006.