On 26th July 2007 the Supervisory Council of Bank “Saint Petersburg” made a decision:
- to increase the Bank’s authorized capital by placement of additional non-documentary registered ordinary shares;
- to convene an extraordinary General Meeting of Shareholders on 7th September 2007.
The Agenda of the General Meeting includes the issues connected with the amendments to the Bank’s Charter and by-laws.
To make the amendments in the Bank’s by-laws is connected with the necessity to raise the quality of its corporate governance and ensure compliance with the guidelines of the FSFM. The increase in the authorized capital is connected, first of all, with the necessity to expand the Bank’s business further and corresponds to its strategy