In settlement for the shares, as foreseen in the agreement, Siauliu Bankas presented 21.35 million new shares with a total nominal value of EUR 6.19 million to AB Invalda INVL for subscription.
Settlement for the new issue was effected through a Set-Off Agreement which the bank and AB Invalda INVL entered into on 17 July, by which the parties established that their claims arising from the Agreement and from the contract on subscription of the bank's shares were satisfied.
After the increase, Siauliu Bankas' authorized capital will be EUR 91.226,381.99, it will be comprised of 314,573,731 ordinary registered share with a par value of EUR 0.29 each.
The new issue will be registered and AB Invalda INVL will obtain ownership rights to the shares of the new issue only after permission is received from the Bank of Lithuania, as the Siauliu Bankas' supervisory institution, for the amendment of the bank's Charter related to the authorized capital increase.
