The shareholders of AB Bank SNORAS endorsed increasing the authorized capital up to LTL 500 million

During the extraordinary general shareholders' meeting (GSM) of AB Bank SNORAS, which took place on 5th November 2009, it was decided by additional contributions to increase the authorized capital of the bank by more than LTL 88 million. After distributing the new emission of shares, the authorized capital of the bank will comprise LTL 500 million.

For this purpose Bank SNORAS will issue 88 077 433 ordinary registered shares of 1 Litas nominal value, which will be distributed for the price not lower than the nominal share value per one share. According to the decision of GSM, the Board of AB Bank SNORAS is authorized to determine the exact price, conditions and the order of the share emission distribution.

During the meeting the resignations of Francisco Jose Guadamillas Cortes and Andrey Vernikov - the members of the Supervisory Board - were accepted and it was decided to reduce the number of the members of the bank's Supervisory Board from seven persons to five.

The decisions on the partial change of the bank's Articles of Association were also adopted during the GSM. The alterations of the Articles of Association are related to increasing the authorized capital as well as to the edition of the Articles of Association which was actualized according to the new edition of the LR Law on Companies.

On the same day, 5th November 2009, the Bank of Lithuania permitted AB Bank SNORAS to include in the second level capital LTL 72.5 million (EUR 21 million) worth emission of termless debt securities distributed via non-public distribution on 31st August this year.