NAT. BANK OF GREECE SA
Press release
Further to its press release of 7 September 2010, NBG announces that the Bank?s Board of Directors convened today and resolved upon the following:
- an increase in the Bank's share capital by €607,041,575 through a pre-emptive equity rights offering in cash and the issue of 121,408,315 new ordinary shares of nominal value of €5 per share, at a subscription ratio of one new share for every five existing shares, and a subscription price of €5.20 per new share. The proceeds of the offering, excluding expenses related to the issue, are expected to be €631,323,238. Details regarding the offering are included in the relevant report of the Board to be posted on the ATHEX and NBG websites. The detailed timetable of the offering will be published once the Prospectus has been approved by the Hellenic Capital Markets Commission.
- an offering, by way of pre-emption rights to existing ordinary shareholders, of short-term non-interest bearing convertible equity notes with an aggregate nominal value of €1,183,731,068. Specifically, it was decided to issue 227,640,590 convertible equity notes of a nominal value, issue price and conversion price of €5.20 per convertible equity note, at a ratio of 3 convertible equity notes for every 8 existing ordinary shares, maturing on the seventh calendar day following the relevant issue date, which is estimated to fall in the second half of October. Each convertible equity note will be convertible to one new ordinary NBG share, of a nominal value of €5 each. The notes will not be admitted to trading on any market. The detailed timetable of the offering will be published once the Prospectus has been approved by the Hellenic Capital Markets Commission.
The Board of Directors was also informed of, and approved, the planned public offering of a minority stake in the share capital of NBG's Turkish subsidiary, Finansbank, which may take place either through the issue of new shares and increase in the share capital of Finansbank or through the sale of existing shares. NBG will retain a majority equity stake in Finansbank of at least 75%. The Finansbank offering will take place as soon as practicable, subject to market conditions and obtaining all necessary regulatory and other approvals. The precise terms of the planned public offering will be announced as soon as they have been finalised.
- an increase in the Bank's share capital by €607,041,575 through a pre-emptive equity rights offering in cash and the issue of 121,408,315 new ordinary shares of nominal value of €5 per share, at a subscription ratio of one new share for every five existing shares, and a subscription price of €5.20 per new share. The proceeds of the offering, excluding expenses related to the issue, are expected to be €631,323,238. Details regarding the offering are included in the relevant report of the Board to be posted on the ATHEX and NBG websites. The detailed timetable of the offering will be published once the Prospectus has been approved by the Hellenic Capital Markets Commission.
- an offering, by way of pre-emption rights to existing ordinary shareholders, of short-term non-interest bearing convertible equity notes with an aggregate nominal value of €1,183,731,068. Specifically, it was decided to issue 227,640,590 convertible equity notes of a nominal value, issue price and conversion price of €5.20 per convertible equity note, at a ratio of 3 convertible equity notes for every 8 existing ordinary shares, maturing on the seventh calendar day following the relevant issue date, which is estimated to fall in the second half of October. Each convertible equity note will be convertible to one new ordinary NBG share, of a nominal value of €5 each. The notes will not be admitted to trading on any market. The detailed timetable of the offering will be published once the Prospectus has been approved by the Hellenic Capital Markets Commission.
The Board of Directors was also informed of, and approved, the planned public offering of a minority stake in the share capital of NBG's Turkish subsidiary, Finansbank, which may take place either through the issue of new shares and increase in the share capital of Finansbank or through the sale of existing shares. NBG will retain a majority equity stake in Finansbank of at least 75%. The Finansbank offering will take place as soon as practicable, subject to market conditions and obtaining all necessary regulatory and other approvals. The precise terms of the planned public offering will be announced as soon as they have been finalised.