The Extraordinary General Meeting of Attica Bank's Shareholders approved today the approval of the Share Capital Increase of Attica Bank for a total amount of €735 million.

The shareholders of the bank specifically approved a share capital increase of €672.1 million in favor of the current shareholders by cash payment and by exercising warrants worth €62.9 million, as stipulated in the shareholders' agreement between the Hellenic Financial Stability Fund and Thrivest Holding LTD, which the Parliament ratified into law. The bank aims to complete the AGM by the end of October and to start trading the shares from the warrants in November.

Also, the Extraordinary General Meeting approved to reverse-split in order for 53 million shares of the Bank to become 530 thousand through the increase of the nominal value of the existing ordinary shares from €0.05 to €5.00 with a simultaneous reduction of the total number of existing ordinary shares of the Bank by combining one hundred shares into one (reverse split).

The Body of Shareholders voted in favour of all the items on the Agenda, including the termination of Attica Bank's inclusion in the deferred tax claim (DTC) regime as the universal successor of Pancretia Bank following the merger of the two entities.

Addressing the shareholders, Attica Bank's Chairman of the Board of Directors, Mr. Yannis Zographakis, said that "the legal merger of Attica Bank with Pancretia has been completed, and teams from both banks are working intensively on the operational merger. In order to create the new, unified and strong bank that we all want, the proposed capital increase of €735 million is needed.

Attica Bank's CEO, Ms. Eleni Vrettou, stressed that "all existing shareholders of the Bank will have the opportunity to actively participate in the new AMC. Based on the Shareholders' Agreement, we are in a position to make the necessary capital injection with certainty of coverage, ensuring that our new business plan will be fully implemented."

The Bank will also aim to complete the de-recognition of non-performing Performing Exposures (NPEs) through the Hercules III programme by the end of the year, so that it will be fully recapitalised and consolidated by the end of 2024.