Increase of the share capital in connection with the option programme and subscription results
May 02 2024 - 4:00AM
Increase of the share capital in connection with the option
programme and subscription results
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:
- 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.
-
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.
-
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.
-
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.
-
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.
-
The increase of share capital and payment for the new shares shall
be fully carried out by monetary contributions.
-
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.
- 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 TatrikCommunications
SpecialistTel: +372 5151 859E-mail: katre.tatrik@cooppank.ee