The General Meeting, representing more than 75 per cent of the Bank's share capital, has authorised the Board of Directors of EFG Eurobank to repurchase, should it so deem necessary, some of its own shares through the Stock Exchange.
The General Meeting, representing more than 75 per cent of the Bank's share capital, has authorised the Board of Directors of EFG Eurobank to repurchase, should it so deem necessary, some of its own shares through the Stock Exchange.As the Managing Director of EFG Eurobank Mr N. Nanopoulos explained to the General Meeting, the purpose of the acquisition of shares is to support the share's stock-market price in those cases where it is thought that the price is significantly lower than that which corresponds to market conditions and to the financial state and prospects of the company. The terms of the purchasing of shares, as proposed by the Bank's Board of Directors, following a report from a specialist consultant of a firm of auditors, are as follows:
- The maximum number of shares that will be bought is 6,650,000 - which correspond to 5 per cent of the Bank's share capital.
- The purchases will be made through the Athens Stock Exchange within a period not exceeding 18 months from today.
- The maximum price at which these purchases are permitted is set at GRD 12,000 per share.
- The shares will be bought from the wider investing public and investment funds.
- There will be advance announcements in the Press.
- They will be sold or offered for sale within a three-year period.