PRIME-TASS. An extraordinary shareholders meeting held by Orient Express Bank decided to reorganize the bank via takeover of Rostpromstroybank, Prime-TASS wired.
The shareholders approved a takeover agreement. Previously the board of directors at Orient Express Bank set the buyback price for common and preferred shares at Rub 0.13 and Rub 0.01 per share, with Rub 0.01 par value each.
Orient Express Bank shareholders also decided to upsize the lender’s charter capital to Rub 653.70 mln by floating 8,311,230,000 additional common shares with Rub 0.01 par value each by converting Rostpromstroybank’s common and preferred shares with Rub 0.01 par value each into them at the conversion ratio of 1:9 (one share of Rostpromstroybank is to be converted into 9 shares of Orient Express Bank).
Rostpromstroybank’s EGM, scheduled also for July 6, will also review the reorganization issue (via takeover by Orient Express Bank). The shareholders will approve a takeover agreement and a transfer act. The price for Rostpromstroybank to buy back its common and preferred shares was set at Rub 1.17 per share with Rub 1.00 par value. The
