T BANK S.A.
ANNOUNCEMENT
ASPIS BANK SA, announces that, in compliance with Law 3556/2007 the shareholder ASPIS HOLDINGS PUBLIC COMPANY LIMITED informed the Bank on 5/5/2008 that on 24/4/2008 made an announcement on the Cyprus Stock Exchange as follows:
''ASPIS HOLDINGS PUBLIC COMPANY LTD ANNOUNCEMENT
At the meeting held on Wednesday, April 23, 2008, the Board of Directors of Aspis Holdings Public Company Ltd (The Company) decided the following:
1. The Company will proceed with the acquisition of 20% of the share capital of Aspis Bank S.A.(AB) from Commercial Value in cash. The Company already holds 4,998% in the issued share capital of AB and its stake will increase to 24,998% with the future prospect of acquiring up to 30%.
2. The Extraordinary General Meeting of the shareholders of the Company will take place on May 30, 2008 at the Company's Head Office, 1 Andrea Haliou, Engomi, Nicosia at 12.00 pm in order to approve a resolution on the issue and allocation of new shares in the form of Rights. For every existing share corresponds 1 Right and for every 4 Rights the holder is entitled to buy one new share of the Company at the price of ?1.50.
The funds raised by the capital increase will be used for the Company's acquisition of 20% of the share capital of AB.
The Company's shareholding in AB is subject to the approval of proper authorities.
Aspis Bank S.A. was established in 1992 and it is the first private housing bank in Greece. In 2001 it was converted into a commercial bank offering a wide range of banking products and services to companies and individuals. Taking advantage of the synergies of Aspis Group (customers base, sales insurance network etc), it managed to become a middle-size and low-cost specialized bank. It has 72 branches in Greece. The central office of Aspis Bank S.A. is situated in 4 Othonos Str, 105 57 Athens.
Details on the resolution that will be posted to the shareholders will be announced at a later stage.
The Company also decided to appoint Mr. Demetris Vidalis as Non-Executive Board member with immediate effect. Mr. Vidalis is the Managing Director of Commercial Value and has a wide experience in insurance and financial issues.''
''ASPIS HOLDINGS PUBLIC COMPANY LTD ANNOUNCEMENT
At the meeting held on Wednesday, April 23, 2008, the Board of Directors of Aspis Holdings Public Company Ltd (The Company) decided the following:
1. The Company will proceed with the acquisition of 20% of the share capital of Aspis Bank S.A.(AB) from Commercial Value in cash. The Company already holds 4,998% in the issued share capital of AB and its stake will increase to 24,998% with the future prospect of acquiring up to 30%.
2. The Extraordinary General Meeting of the shareholders of the Company will take place on May 30, 2008 at the Company's Head Office, 1 Andrea Haliou, Engomi, Nicosia at 12.00 pm in order to approve a resolution on the issue and allocation of new shares in the form of Rights. For every existing share corresponds 1 Right and for every 4 Rights the holder is entitled to buy one new share of the Company at the price of ?1.50.
The funds raised by the capital increase will be used for the Company's acquisition of 20% of the share capital of AB.
The Company's shareholding in AB is subject to the approval of proper authorities.
Aspis Bank S.A. was established in 1992 and it is the first private housing bank in Greece. In 2001 it was converted into a commercial bank offering a wide range of banking products and services to companies and individuals. Taking advantage of the synergies of Aspis Group (customers base, sales insurance network etc), it managed to become a middle-size and low-cost specialized bank. It has 72 branches in Greece. The central office of Aspis Bank S.A. is situated in 4 Othonos Str, 105 57 Athens.
Details on the resolution that will be posted to the shareholders will be announced at a later stage.
The Company also decided to appoint Mr. Demetris Vidalis as Non-Executive Board member with immediate effect. Mr. Vidalis is the Managing Director of Commercial Value and has a wide experience in insurance and financial issues.''