PO to Bank of Cyprus by Marfin Popular
MARFIN POPULAR BANK PUBLIC CO LTD announces that it decided to submit a public offer to the shareholders of BANK OF CYPRUS PUBLIC COMPANY LTD for the acquisition of a minimum 35% and a maximum 100% of the issued share capital of Bank of Cyprus Public Company Ltd.
The consideration that will be offered for every ordinary share of Bank of Cyprus Public Company Ltd of nominal value £0.50 is 1,241 ordinary shares of Marfin Popular Bank Public Co Ltd of nominal value £0.50.
In case that the Public Offer is accepted by 90% (or more) of the shareholders of Bank of Cyprus Public Company Ltd, Marfin Popular Bank Public Co Ltd will examine the possibility of exercising the right to acquire the remaining shares of the bank, pursuant to article 201 of the Companies’ Law.
Pursuant to the CSE Law, the shares of Bank of Cyprus Public Company Ltd will be delisted from the CSE in case that – as a result of the Public Offer – Bank of Cyprus Public Company Ltd has not a sufficient free float, pursuant to the provisions of the Law.
The Public Offer is subject to: a) the taking of the necessary decisions at the AGM for the issue of new shares and, b) the relevant permits and approvals by the competent authorities, as described in the Public Offer Document.
The full information on the Public Offer will be included in the Public Offer Document, which will be prepared in accordance with the current legislation.
The current announcement is based on Regulation 9(1) of the CSE Regulations 1997-2006 (Public Offer for the Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE).
Marfin Popular Bank Public Co Ltd is a strong banking group in SE Europe and ranks first in the market of Cyprus and second in Greece. The Group has presence in 13 countries and numbers more than 300 branches. Its capitalization exceeds €6.9 billion.
The consideration that will be offered for every ordinary share of Bank of Cyprus Public Company Ltd of nominal value £0.50 is 1,241 ordinary shares of Marfin Popular Bank Public Co Ltd of nominal value £0.50.
In case that the Public Offer is accepted by 90% (or more) of the shareholders of Bank of Cyprus Public Company Ltd, Marfin Popular Bank Public Co Ltd will examine the possibility of exercising the right to acquire the remaining shares of the bank, pursuant to article 201 of the Companies’ Law.
Pursuant to the CSE Law, the shares of Bank of Cyprus Public Company Ltd will be delisted from the CSE in case that – as a result of the Public Offer – Bank of Cyprus Public Company Ltd has not a sufficient free float, pursuant to the provisions of the Law.
The Public Offer is subject to: a) the taking of the necessary decisions at the AGM for the issue of new shares and, b) the relevant permits and approvals by the competent authorities, as described in the Public Offer Document.
The full information on the Public Offer will be included in the Public Offer Document, which will be prepared in accordance with the current legislation.
The current announcement is based on Regulation 9(1) of the CSE Regulations 1997-2006 (Public Offer for the Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE).
Marfin Popular Bank Public Co Ltd is a strong banking group in SE Europe and ranks first in the market of Cyprus and second in Greece. The Group has presence in 13 countries and numbers more than 300 branches. Its capitalization exceeds €6.9 billion.
