On 1 September, 2014 General Shareholders Meeting approved the results of the private shares’ placement and share capital increase.
The decision is to approve the results of the 15th additional issue of bank’s shares for the total amount of UAH 449 482 000 (equal to EUR 25 mln at the time of purchase of shares) and paid in full. That is 89,9% of the planned capital increase, as the amount of actual capital increase depended on EUR/UAH rate at the time of purchase of shares.
As a result of such shares’ placement and after the state registration of the additional issue and implementing changes into Bank’s Charter, the share capital of the Bank will increase 27,6% to UAH 2 077 274 220.
Nicholas Zenzefilis, Board Member, Treasury Director of Piraeus Bank noted that even during the difficult times for the whole banking system Piraeus Bank Group is showing its commitment to its presence in the Ukrainian Market. And this increase of share capital will enable even greater range of clients to use the Bank’s expanding services. "The decision, taken on 6 June, 2014 at the General Shareholders Meeting, indicates that the shareholders are planning to further develop the financial institution and support its future expansion. As a result of this increase, Piraeus Bank ICB achieves even greater financial stability, stronger capital adequacy ratios and further support for expanding its operations", - concluded the banker.
The share capital increase was conducted by means of private share placement on the amount of 44 948 200 of ordinary registered shares in non-documentary form in nominal value of UAH 10 per 1 share. The whole amount of additional issue of bank’s shares has been bought by major shareholder Piraeus Bank S.A. (Athens, Greece). As a result of the shares’ placement of additional issue, Piraeus Bank S.A. continues to keep 99,99% of the share capital of JSC “Piraeus Bank ICB”.