Announcement clarifying the calculation of the start price of the right on the share of ATTICA BANK S.A.

 

Athens, November 24, 2021

In view of tomorrow's (25/11/2021) commencement of rights' trading for ATTICA BANK S.A., the  Athens Stock Exchange, in order for the investing public to better understand the determination of the theoretical start price for the trading of that right, quotes the formula for the calculation of its price, which is used for every share capital increase through a rights issue in favor of the old shareholders of the company, according to decision 26 of the ATHEX BoD.

We remind that, based on the decision of the ATTICA BANK BoD of November 5th, 2021, regarding its share capital increase of up to €240,000,000:

  • The maximum number of new shares to be issued is 1,200,000,000
  • The issue price per new share is set at €0.20
  • The number of existing shares of the bank before the share capital increase is 24,229,445
  • The last closing share price to be used will be that of today's trading session, Wednesday, 24th, 2021, i.e. €0.8730.

Hence, according to the aforementioned formula, the start price of trading for the right on the share of ATTICA BANK is calculated as follows:

R = [1,200,000,000 *(0.8730 ? 0.20)] / 24,229,445 = €33.3313

After applying the MIFID II relevant tick size for the share of ATTICA BANK (tick size 0.05), the price €33.3500 results and will be used as the basis price at the commencement of the right's trading.

The trading of the aforementioned right of ATTICA BANK will commence tomorrow, Thursday, November 25th, 2021, and will last until Friday, December 3rd, 2021 (included).

Additionally, it is noted that there are no daily price fluctuation limits for the rights' trading, during the rights' trading period, hence the market price will be freely formed.

Finally, as an example we mention that, if the last closing share price of TATT before the commencement of trading of the aforementioned right was €0.2740 (i.e. equal to the theoretical start price for the share TATT on the first day of ex-rights trading), then the start price for the trading of right would be €3.6650, according to the above formula and after applying the relevant tick size.