Today, on 15 May 2019 AS Inbank and its subsidiary Akcin? bendrov?
"Mokilizingas" signed a cross-border merger agreement according to which
Mokilizingas will be merged into Inbank.
As a result of the merger, Mokilizingas will cease to exist and Inbank will be
the legal successor of Mokilizingas. All the assets, rights and obligations of
Mokilizingas shall be transferred to Inbank on the date of entry of the merger
in the Estonian Commercial Register.
The merger will be performed in accordance with the cross?border merger
agreement and the laws of Estonia and Lithuania and will be conditional on the
Estonian Financial Supervision Authority and the Bank of Lithuania issuing the
necessary authorisations. Obtaining of such authorisations from the Estonian
Financial Supervision Authority and Bank of Lithuania shall be deemed conditions
precedent for the completion of the merger under the cross-border merger
agreement.
The purpose of the merger is to simplify and harmonize the group's legal
structure and to create a more cost-efficient management. In Lithuania, Inbank
wishes to continue its operation in a branch structure.
The contemplated merger is an intra-group merger and in the course of the
latter, the volume, content and nature of the assets of Inbank group will not be
altered. The financial results of the companies involved in the merger have been
consolidated on the level of Inbank and made available to all the investors of
Inbank via the information system of Nasdaq Tallinn Stock Exchange.
After the merger, Inbank will continue under the business name AS Inbank.
Inbank started its banking activities in 2015 and provides its services through
its internet bank and partner network. Inbank is active in Estonian, Latvian,
Lithuanian and Polish consumer financing markets. In addition, international
deposits are gathered from German, Austrian and Dutch markets.
Additional information:
Kristin Pihu
Inbank AS
Head of Marketing and Communication
+372 5348 2436
kristin.pihu@inbank.ee
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