Metals banka issues additional 81,000 stocks worth 36.7m EUR

At the meeting of the Assembly of Stockholders of Metals banka, which was held on September 30, 2008, members of the Assembly adopted the decision about issuing of public offer for common stocks from the 23rd issue for the sake of enlargement of basic capital.

Total of 81,000 common stocks worth 12,850 RSD each will be issued.

The price of the stocks is 33,500 RSD per stock for stockholders with priority in registration of stocks and 36,000 RSD per stock for all others. Total value of the issue amounts to about 2,800,000,000 RSD or about 36.7m EUR. Realization of the Decision will follow the stabilization of the current crisis on the stock exchange.

Members of the Assembly decided to make this move in order to reinforce capital base for the needs of development of new banking products and services that would satisfy the needs of certain number of new clients, first of all, large companies and local self-governments.

In accordance with the Law on banks, new members of the Administrative Board were appointed at that meeting. Darko Botić, the Executive Manager of DDOR Novi Sad, will stay on the position of the President of the Administrative Board of the Bank because this insurance company owns about 15% of stocks of Metals banka.