Coop Pank AS (hereinafter the Bank) announces that the Bank's shareholder Coop Investeeringud OÜ has notified the Bank that on July 6th 2020 the Bank's shareholders Coop Investeeringud OÜ, Antsla Tarbijate Ühistu, Elva Tarbijate Ühistu, Järva Tarbijate Ühistu, Viljandi Tarbijate Ühistu, Harju Tarbijate Ühistu, Haapsalu Tarbijate Ühistu, Rapla Tarbijate Ühistu, Lihula Tarbijate Ühistu, Jõgeva Majandusühistu, Vändra Tarbijate Ühistu, Tartu Tarbijate Kooperatiiv and TTK Investeeringud OÜ (hereinafter each a separate Shareholder and together the Shareholders) have entered into the shareholders' agreement (hereinafter the Shareholders' Agreement).
According to clause 7.8 of the Exchange Rules, the Bank discloses the essential terms and conditions of the Shareholders' Agreement, notified to the Bank by the Shareholders:
- The Shareholders have agreed that if the Shareholder (Transferor) wishes to transfer the Bank's shares to a third party, the other Shareholder has the right to acquire the respective shares (Pre-emptive Right). The pre-emptive right may be exercised both in respect of all the shares to be transferred and in respect of part of the shares to be transferred.
- If no Shareholder notifies the Transferor in due time of its intention to exercise the Pre-emptive Right, the Transferor has the right to transfer its Bank Shares at the sale price published in the transfer notice or at a higher price on the planned transaction date or within 90 days thereafter. In case of a later transfer of the shares or if the Transferor wishes to transfer the shares for less than the sale price, the transfer restrictions provided in the Shareholders' Agreement must be followed again.
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking has reached 72 800. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 330 stores.
Additional information:
Kristjan Seema
Head of Marketing & Communication
phone: +372 5505 253
e-mail: kristjan.seema@cooppank.ee