Marfin Popular Bank Public Co Ltd announced that its Board of Directors decided to proceed with the acquisition of the total share capital of Marfin Bank ATE from Marfin Financial Group S.A. Holdings S.A., for the total amount of EUR 616.533.000. The consideration has been set in accordance with the valuation report of the accounting firm “BDO Greek Auditors S.A.†which was made for this purpose. The final agreement for the above transfer is expected to be completed in the next ten days.
Regarding the matters relating the capital structure and the issue of the necessary number of shares within the framework of the authorizations that have been granted to the Board of Directors by the Extraordinary General Meeting of 12 March, 2007 and the Extraordinary General Meeting of 31 October, 2006, the Board of Directors will continue its meeting on Thursday, 12 April, 2007, when a final decision will be reached.
Further to our announcements of 4.1.2007 and 27.3.2007 concerning the right of exit of holders of shares in ‘Marfin Financial Group Holdings SA’ that were not exchanged in the context of the Public Offer and in accordance with Article 28 of Law 3461/2006 and Decision 1/409/29.12.2006 of the Board of Directors of the Securities and Exchange Commission, we state that, during the period for exercise of the right of exit 1,167 shareholders in ‘Marfin Financial Group Holdings SA’ validly offered the Company a total of 1,105,408 shares at an exchange ratio of 5.7570 new Company shares for each share offered.
Thus, according to the situation up to 3.4.2007, the Company, following completion of the relevant procedures, will hold a total of 53,839,932 shares in ‘Marfin Financial Group Holdings SA’, which represent 97.30% of the total share capital of ‘Marfin Financial Group Holdings SA’.
Completion of the relevant procedures will depend on the time taken to obtain the necessary approvals or licences from the competent authorities (Hellenic Capital Market Commission, Cyprus Securities and Exchange Commission, Athens Stock Exchange, Cyprus Stock Exchange) and the relevant timetable will be notified by the Company by means of a further announcement.
