15.06.2009

Supervisory Board of the Bank approved the agenda for the extraordinary General Meeting of Shareholders

On 11 June the Supervisory Board of the Bank St. Petersburg approved the agenda for the extraordinary General Meeting of Shareholders which is to take place on July 22, 2009.

According to approved agenda the shareholders shall determine the number and other parameters of new type of preferred authorized shares and amend the Bank’s Charter accordingly. 

Besides the shareholders will make a decision on increase of the Bank’s charter capital through placement of 73,950,000 preferred shares of A type.

The Chairman of the Supervisory Board Indrek Neivelt has given the following comments on the proposal to increase the charter capital: “During the crisis maintaining of required level of capital becomes one of the priorities of the Bank. The possibility of additional issue increases the extent of opportunities available to the Bank in attracting capital. In connection with long time necessary for the procedure of preparation and making the share issue in accordance with the effective law of the RF the Bank decided to make respective amendments to the Charter in advance”.