Resolutions of the Bank’s Repeat Annual General Shareholders’ Meeting 30.06.2009 | Eurobank
Choose Language Top Menu Main Menu Extra Button Menu Page Contents Footer Search

Resolutions of the Bank’s Repeat Annual General Shareholders’ Meeting 30.06.2009

EFG Eurobank Ergasias S.A. (the Bank) announces that the Repeat Annual General Meeting of June 30th, 2009 convened with a quorum of 54.38% of the paid up ordinary share capital, regarding the item of the Agenda on the invitation dated May 27th, 2009 (for which discussion had been postponed due to lack of the quorum required by law and the Articles of Association at the Annual General meeting on June 19th, 2009) resolved that the Bank will issue, either lump sum or gradually in tranches, a callable bond of up to € 500 million, convertible to ordinary shares of the Bank, with a duration of 91 years, waiving pre-emption rights of existing shareholders. The bond will be placed with at least one special purpose foreign subsidiary of the Bank, which will issue hybrid, callable securities, exchangeable with the Bank’s shares, which mirror the terms and conditions of the convertible bond. The Bank will have the right to redeem the convertible bond after the fifth year of each issue, in whole or in part, subject to approval by the Bank of Greece. The coupon rate of each issue shall not exceed 10%. The conversion rights may be exercised by the bond holder, with a written statement to the Bank, after the fifth year following each issue. The price at which the new ordinary shares will be issued, if conversion rights are exercised, will be based on the share market price during the period preceding the conversion, at a small discount of up to 15%. This price cannot be lower than the nominal value of the share or higher than €50. The final conversion price or the conversion ratio will be decided by the Board of Directors, prior to each issue. Finally the repeat Annual General Meeting authorised the Board of Directors to determine the detailed terms and conditions of the bond.