VTB to Decapitalize VTB Bank Georgia
Russian ВТБ plans decapitalization of the subsidiary banks in Georgia and Ukraine. Russian state credit organization made official statement about it/
Increase of the authorized capital of Georgian subsidiary VTB Bank Georgia is planned by 116,24 million GEL ($65,5 million). Authorized capita of Ukrainian subsidiary will increase by 1,2 billion Hryvna.
Decapitalization of Georgian subsidiary will be provided by placement of 116,24 million additionally emitted stocks, nominal of which will be 1 GEL. Decapitalization of Ukrainian subsidiary will be provided by emission of the stocks of 12 billion; nominal of each stock will be 0,1 Hryvna.
In the case of making decision about increase of the authorized capital, Russian bank may purchase 112,53 million stocks of VTB bank Georgia for the market price determined by independent evaluator company Центр профессиональной оценки. Besides, share of ВТБ in the capital of Georgian subsidiary equals to no less than 96,81%. In the case of refusal of existing shareholders of Georgian bank on the privileged right to redemption stocks, VTB will be able to purchase remaining 3,7 million stocks. In this case share of ВТБ in VTB Bank Georgia will be no less than 98,1%.
In the case decision making about increase of the authorized capital of Ukrainian subsidiary, hey can be able to purchase no more than 11,997 billion stocks. Besides, share of mother-company in the authorized capital is no less than 99,9737%. In the case of refusal of the existing stockholders, the mother-company can purchase additionally 3,156 million stocks. In this case their share in the authorized capital will be 99.9737%.
The Bank’s supervisory board members are Vasil Titov, Mikheil Yakunin, Igor Piun, Grigol Lomidze, Vsevolod Smakov.
VTB Georgia stakeholders are as follows: Russian VTB Bank (96.80%) and LLC Lakarpa Enterprise Ltd (1.80%). The Russian government holds a 59% stake in Russian VTB.