CYPRUS: HB donates €19,400 raised from reverse stock-split fractions

Hellenic Bank donated €19,433 to the Cyprus Red Cross, raised from the sale of the aggregate and fractions of shares arising from the recent reverse stock-split of 1:50.
The bank said that rather than a distribution across the whole shareholder base, it was decided, at the extraordinary general meeting on February 27, to donate the whole amount to a local charity.
Part of the amount will be given to the “Stella Soulioti” Children Therapy Centre in Limassol and the rest for the construction of a kitchen at the Nicosia branch of the Cyprus Red Cross. The kitchen will provide daily meals to deprived citizens who need support because of the current economic crisis.
The stock had been dwindling at the 4c range when the reserve stock split propelled it to €2.00. On Tuesday, having traded from 1.80 to 2.00, it close the day at 1.95.