The supervisory board of Coop Pank AS (hereinafter the Bank) decided on 17 April
2024 to increase the share capital of the Bank by 507 683,98 euros by way of
issuing new ordinary shares.
The decision to increase the share capital was adopted to enable the realisation
of the options issued within the option programme that was approved with the
resolution of the general meeting of the Bank on 8 November 2019, on the
conditions indicated in the referred decision. The share capital shall be
increased in accordance with clause 3.3.5 of the Bank's articles of association.
28 current and former employees of the Bank were able to participate in the
issue, subscribing altogether for 745 000 shares for the total amount of EUR
819 500, making 100% of the issue size. All option holders submitted a
subscription application and paid timely for the subscribed shares.
Decisions of the supervisory board:
1. To increase the Bank's share capital by 507 683,98 euros, as a result of
which the Bank's share capital will increase from 69 672 813,33 euros to
70 180 497,31 euros.
2. The share capital will be increased by way of issuing new shares (ISIN:
EE3100007857) During the increase of the share capital to issue up to
745 000 new ordinary shares of the Bank, with a book value of 0,681455 euros
per share. After the increase of the share capital, the Bank has a total of
102 986 307 shares without nominal value. The increase of the Bank's share
capital will not create any exceptions or special rights in connection with
the Bank's ordinary shares.
3. According to the resolution adopted under item 6 of the agenda of the
general meeting of shareholders of the Bank on 13 April 2022, the pre-
emptive right to subscribe for the new shares belongs to the Bank's
employees, to whom the share option programme, approved with the resolution
of the Bank's general meeting of 8 November 2019, extends and with whom the
Bank has concluded the respective option contracts (the option holders).
According to the resolution of the Bank's general meeting of 13 April 2022,
the pre-emptive right of the existing shareholders to subscribe for the new
shares which are issued to the option holders pursuant to clause 3.3.5 of
the articles of association for the realisation of the Bank's share option
programme, is precluded.
4. The term for exercising the pre-emptive right and the time period of
subscribing for the new shares is from 22 April to 30 April 2024.
5. The issue price is 1,10 euros per share, of which 0,681455 euros is the book
value of a share and 0,418545 euros is the share premium.
6. The increase of share capital and payment for the new shares shall be fully
carried out by monetary contributions.
7. The new shares to be issued during the increase of share capital shall grant
the right to dividend for the financial year started on 1 January 2024.
1. The Bank will apply for the listing and the admission to trading of the
shares to be issued within the issue on the Nasdaq Tallinn Stock Exchange.
The first estimated trading day of the new shares shall be the first day
following the day when the Bank has informed Nasdaq Tallinn Stock Exchange
of the registration of the increase of share capital in the commercial
register and identifying the new shares with the ISIN-code of EE3100007857.
Coop Pank, based on Estonian capital, is one of the five universal banks
operating in Estonia. The bank has 189 000 clients who use everyday banking
services. Coop Pank uses the synergy created between retail trade and banking
and brings everyday banking solutions closer to people. The majority shareholder
of the Bank is a domestic retail chain Coop Eesti, the sales network of which
comprises 320 stores.
Additional information:
Katre Tatrik
Communications Specialist
Tel: +372 5151 859
E-mail: katre.tatrik@cooppank.ee (mailto:katre.tatrik@cooppank.ee)
|