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Komercni Banka (KMCA)

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Tuesday 12 January, 2016

Komercni Banka

Announcement - Stock split

RNS Number : 6565L
Komercni Banka
12 January 2016
 

Komercni banka, a.s. http://www.kb.cz/en
Prague 1, Na Prikope 33, building identification number 969, Post Code 114 07
Identification No.: 45 31 70 54
incorporated in the Commercial Register maintained with the Municipal Court in Prague,
section B, insert 1360

 Disclosed on 12th January 2016 at 5:30 p.m. CET

Pursuant to Prague Stock Exchange Rules part VI subsection 7(5)(a) and Act 256/2004 (Czech) Coll. subsections 125(1) Komercni banka, a.s. discloses an announcement:

 

Komerční banka, a. s., with its registered office at Prague 1, Na Příkopě 33/969, postal code 114 07, registration No. 45317054, entered in the register of companies maintained with the Metropolitan Court of Prague, section B, file No.1360 announces

that, in order to increase the liquidity of Komerční banka shares on the stock-exchange markets, its Board of Directors is going to propose that the General Meeting approve splitting the issued shares of a nominal value of CZK 500 each at a rate of 5:1 by providing each shareholder with five new shares, each of a nominal value of CZK 100, in exchange for each of the original shares.

 

The long-term successful growth in the value of the shares of Komerční banka has resulted in a situation that their price reached a level exceeding the usual price of stock-exchange-traded shares. The increase has made the acquisition of a suitable number of Komerční banka shares more difficult especially for small investors wishing to extend their portfolio. The goal of the proposed split of the shares issued by the bank consists, therefore, in reducing the individual share price thus making the shares of the bank more accessible to a greater number of investors.

The split itself does not affect the individual shareholders' interest in Komerční banka; however, it will newly provide shareholders with the opportunity of determining the interest that they wish to hold in Komerční banka more precisely.

 

The split will be subject to a decision of the General Meeting of Komerční banka that will be held before the end of April 2016. If the General Meeting approves the split of the share nominal value, Komerční banka will newly hold 190,049,260 pieces of shares, each of a nominal value of CZK 100, instead of 38,009,852 pieces of shares, each of a nominal value of CZK 500. If approved, the share split will take place after the entry of the new share nominal value in the Register of Companies.

 

Prague, 12 January 2016

 

 

 


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