Shareholders of Attica Bank approved a share capital increase (SCI) of 735 million euros, during their Extraordinary General Meeting on Wednesday.
Specifically, the bank shareholders approved a SCI of 672.1 million euros by cash payment for existing shareholders and by exercising warrants of 62.9 million. This is in the framework of the shareholders' agreement with the Hellenic Financial Stability Fund and Thrivest Holding LTD, as ratified by law by parliament.
Attica Bank's plan is to have completed the SCI and start negotiating the shares from warrants in November.
The Extraordinary General Meeting also approved a reverse-split, turning 53 milliion bank shares into 530 thousand shares through the increase of the nominal value of the existing ordinary shares from 0.05 euro to 5 euros.