Novo Banco approved at the general meeting a capital increase of up to 6,567 million euros as a result of the conversion rights relating to financial years 2018 and 2019, with an increase in the state’s share to 11.96%.
In a note issued by the Securities Market Commission (CMVM), the bank said that “an increase in its authorized capital has been approved, which is related to the conversion of conversion rights relating to financial years 2018 and 2019, issued under the applicable special regime. to deferred tax assets.
According to the institution, this capital increase “is in the form of an inclusion of reserves of EUR 146,366,604.25 for the financial year ended December 31, 2018 and EUR 116,816,620.97 for the financial year ended December 31, 2019. , by issuing 739,798,019 new ordinary shares, representing 6.27% of its share capital.”
These shares are “attributed to the Portuguese State under the aforementioned regime, which currently owns 11.96% of the share capital” of Novo Banco.
According to its establishment, its share capital is thus “€6,567,843,862.91” and “with this capital increase and as a result of the agreements made between the Permit Foundation and the Lone Star shareholder in the context of the sale of 75% of the share capital of novobanco, its participation will be diluted only in the Resolution Fund.”
Novo Banco also added in another note that the appointment of Eugene Cazarez as a member of the General and Supervisory Board for the current term of office was approved by the General Meeting of Shareholders and “subject to approval by the competent regulatory authorities (relevant and 2021-2024)”.
Author: Portuguese
Source: CM Jornal
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