2012-03-06
The Board of the Bank of Lithuania gave permission to Šiaulių bankas to register amendments to its Articles of Association in relation to the LTL 30 million increase of the bank’s authorised capital to LTL 234,857,533, as approved by the general meeting of the bank‘s shareholders on 18 November 2010.
Currently, the Articles of Association of Šiaulių bankas, included in the Register of Legal Entities shows the bank’s authorised capital to be of LTL 204,857,533.
Šiaulių bankas told the Bank of Lithuania it was to boost its authorised capital to offer to the bank’s shareholders for whom the general meeting of the shareholders on 18 May 2010 (during the previous increase of the authorised capital) cancelled the priority right to acquire shares of that time share issue a possibility to acquire shares and thus restore the reduced amount of the authorised capital held by them. Also, the bank seeks to strengthen the capital base and increase the volume of its banking services. According to the bank, the authorised capital increase will have positive effect on its compliance with prudential requirements and operational results.