The trading of shares for Attica Bank S.A. is set to undergo significant changes starting October 16, 2024. The current 53,064,387 shares of the company will be suspended and removed from the OASIS Trading System due to a reverse share split. These shares will be replaced by 530,644 new shares with a par value of €5.00 per share. Following this adjustment, the new shares will trade with a final par value of €0.05 per share beginning on October 21, 2024.
Additionally, shareholders will experience changes in their rights and share entitlements. Each existing shareholder will receive approximately 677 new shares for every old share held, resulting in the issuance of 359,469,360 new shares at an issue price of €1.87 per share.
The bank’s shares will not participate in a capital increase that involves issuing warrants convertible into new shares. For each new share obtained through rights issuance, one warrant will be issued allowing conversion into three and a half new shares at an issue price of €0.05 per share.
Trading after the reverse split resumes on October 21, 2024, with a newly assigned ISIN GRS001003052 and an adjusted starting price of €0.5240 per share. The trading period for rights is scheduled from October 21 to October 30, while subscription for these rights extends until November 4.
Price fluctuation limits have been established for the trading session on October 21 as follows: +30% based on the adjusted closing price from the last session on October 15 (€210.99) and -30% based on the start price post-capital increase adjustments (€0.524). According to article 2.6.3 of the ATHEX Rulebook and decisions No 22 & No 26 by ATHEX BoD, these adjustments reflect Attica Bank’s sequence of corporate actions.
“Ceiling +52,190.08%: €274.00” and “Floor -30%: €0.367” are stated as part of these fluctuations for clarity in pricing expectations.
