Marfin Egnatia: Information o start of merger procedure with Marfin Popular
19/5/2009 10:51
Following the submission of a request by the Greek Securities and Exchange Commission, Marfin Egnatia Bank SA announces the following:
At the meetings held on 15/5/2009, the Boards of Directors of MEB and Marfin Popular Bank Public Co Ltd decided to start the merger procedure between the two companies with 30/6/2009 as the reorganization date. The exchange relation among the shareholders will be calculated at a later stage on the basis of the financial statements of the merging companies on 30.6.2009. According to the existing legislative framework, the Boards of Directors of the merging companies will decide the exchange relation within the framework of the approval of the Cross-Border Merger Joint Plan, while an independent experts’ report will be prepared too, which will refer to the suitability of the methods that will be used. The exchange relation is subject to the General Meetings’ approval of the merging companies.
The completion of the merger procedure depends on the safeguard of the necessary approvals by the competent Greek and Cypriot authorities. It is estimated that it will take around 7 months from the reorganization date.
At the meetings held on 15/5/2009, the Boards of Directors of MEB and Marfin Popular Bank Public Co Ltd decided to start the merger procedure between the two companies with 30/6/2009 as the reorganization date. The exchange relation among the shareholders will be calculated at a later stage on the basis of the financial statements of the merging companies on 30.6.2009. According to the existing legislative framework, the Boards of Directors of the merging companies will decide the exchange relation within the framework of the approval of the Cross-Border Merger Joint Plan, while an independent experts’ report will be prepared too, which will refer to the suitability of the methods that will be used. The exchange relation is subject to the General Meetings’ approval of the merging companies.
The completion of the merger procedure depends on the safeguard of the necessary approvals by the competent Greek and Cypriot authorities. It is estimated that it will take around 7 months from the reorganization date.
