The shares of Dmitry Orlov has been put into trust management for the period of inheritance procedures

30 January 2015

On January 28, 2015, a holding of shares of Bank Vozrozhdenie comprising 30.7% of its authorized capital (or 32.03% of voting shares), previously owned by Dmitry Orlov, the founder and the main shareholder of V.Bank, was temporarily placed by the heirs into trust to Alexey Krapivin for a period of inheritance procedures.

“Mr Krapivin is a good friend of mine and will administer the package on behalf of our family. We have pursued this pace for the legal purposes to have an opportunity to vote and participate in decision-making process while the inheritance procedures are ongoing. The bank’s strategy and key priorities remain intact, and it was very important for us to think ahead of all the contingencies and ensure the bank’s activity in the ordinary course during the transition period”, commented Tatiana Orlova, Deputy Chair of the Management Board, on behalf of the heirs.

Dmitry Orlov passed away on December 5, 2014. His spouse and children are to come into inheritance that can take at least six months. Since during this period the heirs cannot exercise rights certified by the shares upon the applicable legislation, they have put forward an initiative to place the shares into trust. The trustee acts strictly within the best interests of the Orlov family and has the right to participate in voting at the General Meeting of Shareholders if needed. Subsequently, he cannot dispose or sell the shares.

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