AS HANSAPANK

ANNOUNCEMENT

16.11.98

 

 

EBRD'S CONVERSION NOTICE

 

On Friday, November 13, EBRD presented Hansabank the conversion notice 

for the conversion of a DEM 25 million and a DEM 10 million subordinated 

loan into banks share capital. According to the loan agreements signed in 

October of this year, EBRD has the right to present Hansabank with a conversion 

notice, which execution requires the approval of the bank's shareholders. In case 

the shareholders' meeting is not convened or shareholders will not approve the 

conversion, the price of the two subordinated loans will increase by 2%.

 

 

 

HANSABANK Ltd.

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569