MARFIN ΕΓΝΑΤΙΑ ΤΡΑΠΕΖΑ
Merger with MARFIN POPULAR BANK PUBLIC CO LTD.
Following its announcement made on 15/5/2009, "Marfin Egnatia Bank SA." makes the following announcement:
The Boards of Directors of Marfin Egnatia Bank S.A. ("Marfin Egnatia") and of its parent company Marfin Popular Bank Public Company Ltd ("Marfin Popular") convened today and decided the continuation of the merger process of the two banks through the absorption of Marfin Egnatia by Marfin Popular. The Boards of Directors authorized the legal representatives of the two Banks, in conjunction with their financial and legal advisors, to proceed with all necessary steps for the implementation of these decisions and for the creation of the Common Cross-Border Merger Plan as well as for the provision of the Reports by the Boards of Directors addressed to the General Meetings of Shareholders in which all legal and financial aspects of the merger for shareholders, creditors and employees will be outlined.
The merger will be effected according to the provisions of the EU Directive 2005/56/EC regarding cross-border mergers of limited liability companies which has been incorporated in the Cypriot and Greek legislation through laws L.186(1)/2007 and L.3777/2009 respectively. It is anticipated that within the following two months the Boards of Directors of the two banks will convene to approve the Common Cross-Border Merger Plan and the Reports by the Boards addressed to the General Meetings of Shareholders. Within the same timeframe, it is anticipated that the Opinions by the independent financial experts, appointed by the legal and administrative authorities, regarding the methods of determination of the share exchange ratios, the suitability of the said methods as well as any technical challenges in utilizing the aforementioned methods will be compiled and will be submitted to the General Meetings of Shareholders. The General Meetings of Shareholders of the two banks are expected to convene in order to approve the Common Cross-Border Merger Plan before the current year-end. Following obtaining all necessary approvals, the completion of the merger process is anticipated with the first quarter of 2010. Marfin Egnatia will be informing seamlessly the investors regarding the developments of the merger process.
The Boards of Directors of Marfin Egnatia Bank S.A. ("Marfin Egnatia") and of its parent company Marfin Popular Bank Public Company Ltd ("Marfin Popular") convened today and decided the continuation of the merger process of the two banks through the absorption of Marfin Egnatia by Marfin Popular. The Boards of Directors authorized the legal representatives of the two Banks, in conjunction with their financial and legal advisors, to proceed with all necessary steps for the implementation of these decisions and for the creation of the Common Cross-Border Merger Plan as well as for the provision of the Reports by the Boards of Directors addressed to the General Meetings of Shareholders in which all legal and financial aspects of the merger for shareholders, creditors and employees will be outlined.
The merger will be effected according to the provisions of the EU Directive 2005/56/EC regarding cross-border mergers of limited liability companies which has been incorporated in the Cypriot and Greek legislation through laws L.186(1)/2007 and L.3777/2009 respectively. It is anticipated that within the following two months the Boards of Directors of the two banks will convene to approve the Common Cross-Border Merger Plan and the Reports by the Boards addressed to the General Meetings of Shareholders. Within the same timeframe, it is anticipated that the Opinions by the independent financial experts, appointed by the legal and administrative authorities, regarding the methods of determination of the share exchange ratios, the suitability of the said methods as well as any technical challenges in utilizing the aforementioned methods will be compiled and will be submitted to the General Meetings of Shareholders. The General Meetings of Shareholders of the two banks are expected to convene in order to approve the Common Cross-Border Merger Plan before the current year-end. Following obtaining all necessary approvals, the completion of the merger process is anticipated with the first quarter of 2010. Marfin Egnatia will be informing seamlessly the investors regarding the developments of the merger process.