Vozrozhdenie Bank Board of Directors has held a meeting

10 July 2015

Vozrozhdenie Bank Board of Directors has held a meeting today.

The agenda covered preparation and convocation of the extraordinary General Meeting of the Shareholders to be held to approve particular terms of the agreement between the bank and the Deposit Insurance Agency on monitoring activity of the bank within the framework of state recapitalization programme.

Previously the bank had been included into the list of credit institutions approved by the Government of the Russian Federation for participation in the recapitalization programme. With a view of that, the Deposit Insurance Agency proposes to acquire V.Bank’s subordinated debt via transfer of sovereign bonds (OFZ) to the bank. The bank has thoroughly considered the procedures and terms of providing this instrument and has accepted the Agency’s proposal. Whereas on June 30, 2015, the Board of Directors of the Deposit Insurance Agency made a decision to conclude the subordinated loan agreement with Vozrozhdenie Bank on RUB6.6 bln.

To participate in the programme, the bank has to sign the agreement on monitoring of its activity with the Agency, imposing a number of commitments on further development of the bank. In the light of positive aspects of strengthening capital position and raising Tier-2 capital at costs well below the market as well as more pronounced growth perspectives amid some stabilization of the macroeconomic environment, the bank sees the terms of the agreement as reasonable.

Therefore, the extraordinary General Meeting of the Shareholders will consider issues concerning approval of particular terms of the agreement and covered by the competence of the General Meeting of the Shareholders.

The bank’s Board of Directors has defined the form of the Meeting as absentee voting, has set August 28, 2015 as the deadline for accepting completed voting ballots and close of business July 21, 2015 — as the record date. The Board has also approved the form and text of the voting ballot and the list of materials to be provided to shareholders as well as has made other decisions related to preparation and holding the extraordinary General Meeting of the Shareholders.

Vozrozhdenie Bank Board of Directors has held a meeting
Vozrozhdenie Bank participated in IX International Forum of Corporate Secretaries