News of the Bank

PRAVEX-BANK’s Board has approved the distribution of shares on sum of 150 million UAH

         On 26 of June 2007 the PRAVEX-BANK's Board meeting took place, where the results of subscription for simple named shares of additional issue, which was held in a period from 7 till 25 of June 2007, and the report about closed (private) shares distribution on the total nominal value of 150 millions UAH were approved.

After approval of corresponding changes to the Bank's statute by the common shareholders meeting and with the following registration of these changes in National Bank of Ukraine, and also at the State registrar, the authorized capital of PRAVEX-BANK will be increased up to 371,5 millions UAH.

       «This will allow PRAVEX-BANK to go on with portfolio of active operations extension in the future, because the bank capitalization — is the basis of bank's stable development» — Chairman of the Board of JSCB «PRAVEX-BANK» Stepan Chernovetskiy commented.

Let us remind that on 7 of May on the common shareholders meeting the decision about an additional increase of authorized capital up to 371 499 139 UAH by means of closed (private) distribution of 150 million of simple named shares with face value of 1 UAH each was made.

By date of 26 of June 2007 the Bank assets consist of 4,3 billions UAH, authorized capital — 465,7 millions UAH, and after the shares registration in National bank of Ukraine and at the State registrar the authorized capital will make an amount of 650 millions UAH.