ASPIS BANK SA (the Bank), following on from its recent announcements regarding its upcoming share capital increase, announces that the Bank's shareholder Commercial Value AAE has reached a preliminary agreement with Mr. Victor Restis and members of his family, in relation to Aspis Bank. Advantage Capital Holdings Plc (former Aspis Holdings Public Company Ltd), main shareholder of Commercial Value AAE, announced to the Cyprus Stock Exchange the following:
''Advantage Capital Holdings Plc (former Aspis Holdings Public Company Ltd) announces that its subsidiary, Commercial Value SA has reached a preliminary agreement with Restis Group, of Victor Restis family, in relation to Aspis Bank.
Specifically, Commercial Value SA will transfer the Rights that it holds in Aspis Bank to Restis Group. Restis Group will submit the sum of euro 65,000,000 for its participation in the bank's capital and the acquisition of 65,000,000. Commercial Value will reach a 20-year Bankassurance agreement with Aspis Bank. The final agreement and its terms will be released in the next seven days and a clarification will follow. The terms of the final agreement require the approval of the competent authorities, including the Bank of Greece.''