01/11/2013 15:36
Alpha Bank Cyprus proceeded with the enhancement of its capital base by €129 million with the issue of ordinary shares of €65 million and convertible capital securities of indefinite duration of €64 million.
According to the announcement, the Shares and Convertible Securities will be acquired entirely by the parent Bank Alpha Bank A.E. which holds 100% of the share capital of Alpha Bank Cyprus Ltd.
The Ordinary Shares are of nominal price Euro 0.85 each and will be issued at a price of Euro 3.25 each. The Convertible Securities are perpetual, with a nominal price of Euro 0.85 each and are mandatory convertible into ordinary shares at a ratio of 1 to 1, in the event of a reduction of Common Equity Tier 1 Capital Ratio below 9%.
As a result of the above issuances, Alpha Bank Cyprus Ltd fully complies with the capital requirements set by the Central Bank of Cyprus, based on the adverse scenario of the diagnostic assessment carried out by PIMCO.
“The capital increase demonstrates the confidence and continuous support of Alpha
Bank Group to its subsidiary in Cyprus and reaffirms Alpha Bank Cyprus Ltd position as an organisation with a strong capital base, able to deal effectively with the challenges that arise from the adverse economic environment”.
According to the announcement, the Shares and Convertible Securities will be acquired entirely by the parent Bank Alpha Bank A.E. which holds 100% of the share capital of Alpha Bank Cyprus Ltd.
The Ordinary Shares are of nominal price Euro 0.85 each and will be issued at a price of Euro 3.25 each. The Convertible Securities are perpetual, with a nominal price of Euro 0.85 each and are mandatory convertible into ordinary shares at a ratio of 1 to 1, in the event of a reduction of Common Equity Tier 1 Capital Ratio below 9%.
As a result of the above issuances, Alpha Bank Cyprus Ltd fully complies with the capital requirements set by the Central Bank of Cyprus, based on the adverse scenario of the diagnostic assessment carried out by PIMCO.
“The capital increase demonstrates the confidence and continuous support of Alpha
Bank Group to its subsidiary in Cyprus and reaffirms Alpha Bank Cyprus Ltd position as an organisation with a strong capital base, able to deal effectively with the challenges that arise from the adverse economic environment”.
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