The Bank of Lithuania has approved the amended Charter
Today (26-04-2007) the Board of the Bank of Lithuania has allowed Šiaulių bankas to register the amended Charter with regard to increase of the bank’s authorized capital up to LTL 121 033 512.
The authorized capital of LTL 109 039 200 of Šiaulių bankas currently indicated in the bank’s Charter is divided into 109 039 200 ordinary registered shares. A resolution to increase the authorized capital was accepted by the General Shareholders’ Meeting of Šiaulių bankas held on 29 March 2007.
The shareholder’s have resolved to increase the authorized capital from the bank’s own funds in two stages. 11 994 312 of ordinary registered shares with LTL 1 par value are to be issued on the first stage and disseminated free of charge to the bank’s shareholders’ in proportion to the total par value of shares owned by them on the Meeting day. While during the second stage the authorized capital is going to be increased by additional contributions issuing 40 000 000 of ordinary registered shares with LTL 1 par value.
The authorized capital of Šiaulių bankas is increased in order to strengthen the capital base, to develop funding opportunities and to improve the indicators limiting activity risk.