Šiauliai, Lithuania, 2015-07-20 07:30 CEST (GLOBE NEWSWIRE) --
The Bank on 17 July 2015 acquired 100 percent of the shares of AB Bankas Finasta and the financial brokerage firm AB FMĮ Finasta (hereafter, “the Shares”) for the amount of EUR 6.19 million. The price was calculated according to the formula established in the Share Purchase-Sale Agreement (hereafter, “the Agreement”) signed on 11 May 2015.
In settlement for the Shares, as foreseen in the Agreement, the Bank presented 21.35 million new shares with a total nominal value of EUR 6.19 million (hereafter, “the New Issue”) to AB Invalda INVL for subscription. Settlement for the New Issue was effected through a Set-Off Agreement which the Bank and AB Invalda INVL entered into on 17 July 2015, by which the parties established that their claims arising from the Agreement and from the contract on subscription of the Bank’s shares were satisfied.
The Board of the Bank, in keeping with the resolution of the General Meeting of Shareholders held on 22 June 2015 regarding amendments of the Bank's Charter related to the authorized capital increase, amended Article 3.5 of the Charter of the Bank, specifying in it the authorized capital amount that reflects the number of actually subscribed and paid shares in the New Issue. After the increase (after registration of the amended Charter), the Bank’s authorized capital will be EUR 91,226,381.99, it will be comprised of 314,573,731 ordinary registered share with a par value of EUR 0.29 each.
The New Issue will be registered and AB Invalda INVL will obtain ownership rights to the shares of the New Issue only after permission is received from the Bank of Lithuania, as the Bank’s supervisory institution, for the amendment of the Bank’s Charter related to the authorized capital increase.
Chief Executive Officer Vytautas Sinius
Additional information about this material event is available from the Bank's Chief Executive Officer, Vytautas Sinius, Tel. +370 (5) 236 2209.