Promsvyazbank holds an extraordinary general shareholders’ meeting17.03 | 2009
Promsvyazbank’s (PSB) extraordinary general shareholders’ meeting held on 16 March 2009 resolved on the following: - ordinary shares split resulting in conversion of one ordinary share with the nominal value of RUB 50,000 each to 5,000,000 ordinary shares with the nominal value of RUB 0.01 each; - introduction of the amendments to PSB Charter following the share split; - PSB’s membership in non-profit organization “Russian Franchise Association”; - amendments to the terms of remuneration for the members of the Board of Directors. The share split aims at PSB’s near-term plans to consolidate its subsidiary banks – members of the Banking Group Promsvyazbank. ____________________________________________________________________________________________________________________ About Promsvyazbank OJSC Promsvyazbank, founded in 1995, is one of the leading privately-owned Russian banks, with total assets of RUB407.6 billion, and total capital of RUB46.7 billion under IFRS as of 30 September 2008. Holding company Promsvyaz Capital B. V. owns 84.68% of the Bank, the remaining 15.32% are owned by Commerzbank Auslandsbanken Holding AG, a subsidiary of the second-largest German bank Commerzbank AG. PSB has the following international credit ratings: “Ba2” from Moody’s Investors Service (negative outlook); “BB-” from Standard & Poor's (negative outlook); “B+” from Fitch Ratings (stable outlook). As of 1 February 2008, the regional network of the Bank in Russia encompassed about 170 sub-branches, 48 branches and 1 representative office; a foreign branch in Cyprus; and foreign representative offices in Kyrgyz Republic, Ukraine, China, and India. ____________________________________________________________________________________________________________________
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