Attica Bank is the focus of investor interest at the moment, as the procedures for the Share Capital Increase are underway. In addition to Fiera, reports indicate that there will be other major investors who will be placed in it, which remains to be confirmed in practice. The management has been doing systematic work in the past period, and the share capital increase seals the fifth banking pillar. Thrivest's participation in the whole project is supportive of the interest expressed, as the fact that it is a strong private shareholder is a catalyst.  

THE SHAREHOLDERS

Under the shareholders' agreement, the Hellenic Financial Stability Fund, which currently controls 72.5% of Attica Bank, will contribute capital of €475.1 million to the upcoming raise. Thrivest Holding's private shareholders have agreed to contribute up to €200 million. e-EFKA will participate with €47.9 million and TMEDE with €12 million. 

Recall that the supervisory authority recently approved:

• the public offer and admission to trading on the Main Market of the Athens Stock Exchange of the new shares to be issued;
• the public offer of the share purchase warrants with the cancellation of the pre-emptive rights in favour of the Bank's existing shareholders; and
• the admission to trading on the Main Market of the Athens Stock Exchange of the new shares to be issued after the exercise of the share purchase warrants It is also noted that the offer price of the new shares will be €1.87 per share.

THE LETTERS

The holders of warrants will be entitled to acquire new shares at a ratio of 677,4209451157461 for each old share of the bank. The total raised capital of the increase, if fully funded, will amount to €672,207 million. The HFSF will hold 68.37% of the company's share capital after the reverse split and the reduction, 68.33% after the capital increase and 34.77% after the exercise of warrants. The corresponding percentages for Thrinvest are 8.71%, 22.89%, and 62.01%, respectively. For EFKA 7.13%, 7.13%, and 1.59%, respectively. For TMEDE, 3,78%, 1,64%, and 1,63%, respectively, and for other shareholders, 12,01%, 0,01%, and 0%, respectively. 

THE INVESTMENTS

The newsletter mentions the following: 

• The HFSF is investing in the capital increase (i) €448.3 million for the acquisition of 239.8 million New Ordinary Shares and (ii) €11 million for the acquisition of a total of 5.9 million new ordinary shares of the increase that have not been covered, corresponding to part of the proportionate share of TMEDE in the share capital increase that was not covered by TMEDE
• Thrivest is investing in the AMC (i) €58.6 million.  for the acquisition of 4.1 million new ordinary shares of the Rights Issue not covered by other Issuer shareholders; and (v) €73.2 million for the acquisition of up to 39.1 million additional new ordinary shares of the Rights Issue not covered;
• e-EFKA is investing €47.9 million in the Rights Issue for the acquisition of 25.6 million new ordinary shares;
• TMEDE is investing €11 million in the Rights Issue. for the acquisition of 5.9 million new ordinary shares; no other existing shareholders are subscribing for new ordinary shares in the Rights Issue; and all other unissued shares in the Rights Issue are allocated to Thrivest by the Board of Directors of the Issuer, therefore the Rights Issue is fully covered.