Bank of Cyprus to elect new Board on Tuesday

According CNA sources, shareholders who will participate in the Annual General Meeting, which will take place at the `Filoxenia” Conference Centre at 16.00 (local time) are allowed to enter the building from 15.00 onwards, after presenting to the entrance their identity card, in order to ascertain that they are shareholders of the bank and to enroll their names on the lists. The shareholders will, then be given the ballot with the names of the 49 candidates for election to the Board of Directors.

The election of the Board of Directors is subject to approval by the Central Bank of Cyprus, in order to meet the eligibility criteria provided in the relevant directives of the Central Bank of Cyprus regarding the composition of the Board of Directors.

Regarding the voting procedure, shareholders can vote all candidates, with either a positive or a negative vote (yes, no). The counting of the votes that will take place during the General Meeting will determine the names of the members of the Body.

The shareholding structure of the Bank announced on September 3 is as follows: 81,4% is held by about 21thousand shareholders arising from the conversion of deposits, 0,5% is held by about 88 thousand shareholders arising from the conversion of shares and debt securities issued as of 29 March 2013 and 18,1% is held by the Cyprus Popular Bank Ltd (Laiki Bank) as per the Bank of Cyprus Share Capital Issue for Compensation of Cyprus Popular Bank Public Co Ltd Decree of 2013. The Bank said that Cyprus Popular Bank Ltd is the only shareholder owning more than 5% of the Bank’s share capital.