Urbo bankas
Notification on material event

The Agreement was concluded to sell 100% of shares of Medicinos bankas UAB

The Agreement was concluded to sell 100% of shares of Medicinos bankas UAB

Vilnius, May 06, 2020 (GLOBE NEWSWIRE) -- Konstantinas Karosas and Western Petroleum Limited have entered into an agreement to sell 137,750 (one hundred thirty seven thousand seven hundred fifty) ordinary registered shares, constituting 100% of the share capital of Medicinos bankas UAB to Nitin Shelke, the Chairman and Founder of Growmore Group, an investment and financial services conglomerate with businesses across the UAE, UK, Switzerland, India and other regions. It is foreseen by the agreement that Konstantinas Karosas, prior to transferring the shares, shall acquire 300 (three hundred) ordinary registered shares, constituting 0.22% of the share capital of Medicinos bankas UAB, from Vytenis Rasutis.

The transaction is scheduled to be completed once the approvals of the Bank of Lithuania and the Coordination Commission for Protection of Objects of Importance to Ensure National Security of the Republic of Lithuania will be received.

         More information: Irmantas Šerys + 370 610 21 691 or media@medbank.lt