Coop Pank
Company Announcement

Increase of the share capital in connection with the option programme and subscription results

The supervisory board of Coop Pank AS (hereinafter the Bank) decided on 12 April 2023 to increase the share capital of the Bank by 524 720,35 euros by way of issuing new ordinary shares.

The decision to increase the share capital was adopted to enable the realisation of the options issued within the option programme that was approved with the resolution of the general meeting of the Bank on 8 November 2019, on the conditions indicated in the referred decision. The share capital shall be increased in accordance with clause 3.3.5 of the Bank’s articles of association.
35 current and former employees of the Bank were able to participate in the issue, subscribing altogether for 770 000 shares for the total amount of EUR 524 720,35, making 100% of the issue size. All option holders submitted a subscription application and paid timely for the subscribed shares.

Decisions of the supervisory board:

1. To increase the Bank’s share capital by 524 720,35 euros, as a result of which the Bank’s share capital will increase from 69 148 092,98 euros to 69 672 813,33 euros.
2. The share capital will be increased by way of issuing new shares (ISIN: EE3100007857) During the increase of the share capital to issue up to 770 000 new ordinary shares of the Bank, with a book value of 0,681455 euros per share. After the increase of the share capital, the Bank has a total of 102 241 307 shares without nominal value. The increase of the Bank’s share capital will not create any exceptions or special rights in connection with the Bank’s ordinary shares. 
3. According to the resolution adopted under item 6 of the agenda of the general meeting of shareholders of the Bank on 13 April 2022, the pre-emptive right to subscribe for the new shares belongs to the Bank’s employees, to whom the share option programme, approved with the resolution of the Bank’s general meeting of 8 November 2019, extends and with whom the Bank has concluded the respective option contracts (the option holders). According to the resolution of the Bank’s general meeting of 13 April 2022, the pre-emptive right of the existing shareholders to subscribe for the new shares which are issued to the option holders pursuant to clause 3.3.5 of the articles of association for the realisation of the Bank’s share option programme, is precluded.
4. The term for exercising the pre-emptive right and the time period of subscribing for the new shares is from 21 April to 28 April 2023.
5. The issue price is 1,01 euros per share, of which 0,681455 euros is the book value of a share and 0,328545 euros is the share premium.
6. The increase of share capital and payment for the new shares shall be fully carried out by monetary contributions.
7. The new shares to be issued during the increase of share capital shall grant the right to dividend for the financial year started on 1 January 2023.

8. The Bank will apply for the listing and the admission to trading of the shares to be issued within the issue on the Nasdaq Tallinn Stock Exchange. The first estimated trading day of the new shares shall be the first day following the day when the Bank has informed Nasdaq Tallinn Stock Exchange of the registration of the increase of share capital in the commercial register and identifying the new shares with the ISIN-code of EE3100007857.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 155 000 clients who use everyday banking services. Coop Pank uses the synergy created between retail trade and banking and brings everyday banking solutions closer to people. The majority shareholder of the Bank is a domestic retail chain Coop Eesti, the sales network of which comprises 320 stores.

Additional information:
Katre Tatrik
Communications Manager
Tel: +372 5151 859
E-mail: katre.tatrik@cooppank.ee