Results of the subscription of shares issued in connection with the option programme
The supervisory board of Coop Pank AS (hereinafter the Bank) decided on 12 May 2021 to increase the share capital of the Bank by 368 196,74 euros to enable the realisation of the options issued in the framework of the option programme. The subscription period of the private placement to the option holders was from 13 May to 17 May 2021.
Eight current and former employees of the Bank were able to participate in the issue, subscribing altogether for 540 310 shares for the total amount of EUR 413 877,46, making 100% of the issue size. All option holders submitted a subscription application and paid timely for the subscribed shares.
During the increase of the share capital, 540 310 new ordinary shares of the Bank will be issued at a book value of EUR 0,6814546 per share. According to the terms and conditions of the option programme, the issue price of the shares was EUR 0,7660 per share. EUR 0,6814546 of the issue price is the book value of a share and EUR 0,0845454 is the share premium. As a result of the issue, the Bank’s share capital will increase upon registration of the increase of share capital in the commercial register from EUR 61 756 051,44 to EUR 62 124 248,18 and the number of shares from 90 623 866 to 91 164 176.
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 95 800 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 330 stores.
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