"Aspis Bank ATE" (the Bank), in the framework of application of the approved Program for the Provision of Stock Option Rights toward the personnel and executives of the Bank and its subsidiaries for the purchase of its shares (the Program), which has been approved by the its Shareholder's Extraordinary General Meeting on 4/9/2002, informs the public as follows:
1. Within the framework of application of the Program, as it is described herein below, the personnel and executives of the management of the Bank and its Subsidiaries who are the beneficiaries of the Final Stock Option Rights for the purchase of Bank shares, have been invited to declare in writing to the Board of Directors of the Bank their intention to exercise their Final rights in part or in full.
2. This Programme is addressed to 119 persons (Members of the Board of Directors, General Managers, Administrative Advisors, Section Heads, Administrative Directors, members of the Boards of Directors of companies which are affiliated to the Bank, personnel and individuals who provide their services to the Bank, who are to be granted non transferable option rights during the year 2007, and concerns 765.742 new Ordinary Registered shares of the Bank, of nominal value 2.71 each, which will arise from the increase of the Bank's share capital which will take place in December 2007, through the amendment of its Articles of Association and without the already existing shareholders having preemptive rights, according to art.13, par.9 of C.L 2190/1920.
3. The fully paid up share capital of the Bank amounts to Euro 172,029.182.13 today, divided into 63,479,403 ordinary registered shares.
4. Based on the Program the issue price for the new shares has been set to 2.71 Euro per share.
5. Following the timely payment of the value of the exercised preemptive rights by the beneficiaries, the Board of Directors of the Bank will proceed to the increase of its share capital and the issue of new registered shares, depending on the number of rights which will have been exercised with the declarations above.
Subsequently the Board of Directors will proceed with all the legal actions, according to the legislation in force, so that the shares which correspond to the rights exercised are listed with the ATHEX.
6. The number of new shares which finally issued and whose listing with the ATHEX depends on the number of shares for which the relevant right will be exercised and the corresponding amount paid.
SUMMARY DESCRIPTION OF THE STOCK OPTION PROGRAM: A
ccording to the Program which was approved by a decision of the Bank's Shareholder's Extraordinary General Meeting on 4/9/2002 and was modified as far as the beneficiaries are concerned by decisions of the Shareholder's General Meeting on 03/05/2006, of the Extraordinary General Meeting on 24/07/2006 and of the General Meeting on 10/05/2007 the Program for the disposal of shares of "ASPIS BANK ATE" towards the personnel, the administration of the Bank, the Administrative Advisors as well towards the members of the Board of Directors of the Bank's affiliated companies was set forth, with the form of stock option plan, setting the number of shares which may be finally issued if all the granted stock option rights are exercised.
- The exact number of stock option rights of every beneficiary has been set by a decision of the Board of Directors of the Bank, according to the beneficiary's position, his effectiveness and generally his appearance within the Bank.
- Time for exercise: The rights are to be exercised from 19/12/2007 until 27/12/2007 with a written declaration of every beneficiary to the Bank and by simultaneous payment for the rights exercised.
- The price for exercise of every stock option right has been set at 2,71 Euro for each right.
The total price is paid in full during the exercise of the stock option right.