Extraordinary announcement

Tuesday, 30. January 2007 08:04

Managing Board meeting, extraordinary shareholders meeting at CKB

OTP Bank Plc.'s Montenegrin subsidiary, Crnogorska Komercijalna Bank
a. d. Podgorica (CKB) has held on 29 January 2007 a Managing Board
meeting and a successive extraordinary general meeting.
The Managing Board appointed József Windheim, Managing Director of
OTP Bank's South Plain Region, as its Chairman for four years. The
decision on József Windheim's appointment becomes effective on the
day of its adoption.
The Managing Board has also proposed to increase CKB's registered
capital of EUR 17,965,708.02 by EUR 10,000,321.11, and it has also
adopted a decision that OTP Bank grants a subordinated loan of EUR 12
million to CKB.
The extraordinary general meeting held after the Managing Board
meeting adopted the Minutes of CKB's extraordinary shareholders
meeting held on 21 December 2006. The end-2006 shareholders forum
reinforced General Director Milka Ljumovic in her position and in her
membership in the Managing Board, and it decided to delegate four
further persons in the new five-member body representing OTP Bank.
Besides Milka Ljumovic and József Windheim, according to the decision
of the general meeting, András Takács, Managing Director at OTP
Bank's Investment Services Directorate, Ibolya Sári, Senior Projekt
Manager at OTP Bank's IT Bank Operations and Process Development and
Dr. Zoltán Dencs, Deputy Managing Director at OTP Bank's Legal
Department, became members.
The extraordinary general meeting, held after Managing Board meeting,
approved the Managing Board's proposal to increase CKB's registered
capital by EUR 10,000,321.11 million.
CKB is Montenegro's largest financial institution with a market share
exceeding 40% based on total assets. The representatives of the
seller and the buyer signed the share sale and purchase agreement for
the 100% stake in CKB on 29 August 2006, and OTP Bank, in possession
of the necessary permissions, transferred the EUR 104 million final
purchase price to the companies and private individuals selling the
financial institution on 18 December 2006.

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