The Bank of Lithuania has permitted the Šiaulių bankas to register the amendments to the Charter


Šiaulių bankas has received the permission from the Bank of Lithuania to register the amendments to the Charter, which are connected with the increase of the authorized capital.

The authorized capital of Šiaulių bankas will be increased by 13.6 percent from LTL 180 357 533 to LTL 204 857 533. The capital is increased seeking to expand the scope of services provided by Šiaulių bankas as well as to strengthen the capital base of the bank.

During the Extraordinary General Shareholders Meeting of Šiaulių bankas held on 18 May this year the Shareholders decided to increase the authorized capital of the bank with the additional contributions of shareholders issuing 24 500 000 ordinary registered shares of LTL 1 nominal value. The Meeting set the issue price of shares being issued - LTL 1.04 per share. The Meeting also revoked the pre-emptive right for all the shareholders to acquire the shares of the new issue and adopted a resolution to sell the shares to eight shareholders, belonging to the group of shareholders, having a consent from the Bank of Lithuania to acquire the qualified share of the authorized capital and voting rights of the bank, reaching or exceeding 50 percent. It is planned to register the amendments to the Bank’s Charter to the Legal Persons register next week.

The last time Šiaulių bankas increased the authorized capital with the bank’s funds on May, 2008.