National Bank of Greece said Tuesday that for the combined offering of the new shares and the convertible equity notes € 3,315,704,345 were offered vis-à-vis € 1,815,054,306 that related to the new shares and convertible equity notes offered, corresponding to a 1.83 oversubscription rate.
The official announcement reads as follows:
National Bank of Greece S.A. informs investors the period for exercising pre-emptive rights in the Bank’s € 607,041,575 share capital increase, which included the issue of 121,408,315 new ordinary registered shares (nominal value of €5.00) each for cash at the offer price of €5,20 each, as well as the issue of 227,640,590 registered non-interest bearing convertible equity notes of nominal value, issue price and conversion price of €5.20 per convertible note representing a total value of €1,183,731,068 ended on 11.10.2010, in line with the Board of Directors’ resolution dated 10.09.2010.
For the combined offering of the new shares and the convertible equity notes € 3,315,704,345 were offered vis-à-vis € 1,815,054,306 that related to the new shares and convertible equity notes offered, corresponding to a 1.83 oversubscription rate.
Results of the share capital increase as at the end of the pre-emptive rights period
Existing shareholders and other persons who acquired pre-emptive rights during the period in which the rights were traded, exercised pre-emptive rights for 119,302,142 new ordinary registered shares and the amount of € 620,371,138 was paid corresponding to a 98,3% coverage of the total share capital increase.
Moreover, over-subscription applications were submitted by holders of pre-emptive rights and subscription applications were submitted by employees and pensioners of the NBG Group, by which a total of 158,795,114 additional shares were applied for, corresponding to a 75.4 oversubscription rate for the remaining new shares following exercise of pre-emptive rights by holders of such rights.
Accordingly, the total number of new ordinary registered shares applied for by (i) those exercising their pre-emptive rights (ii) those who had over-subscription rights and (iii) rights of employees and pensioners of the NBG Group amounted, in aggregate, to 278,097,256 corresponding to € 1,446,105,731 or a 2,3 oversubscription rate vis-a-vis the total of 121,408,315 shares offered, and corresponding to € 607,041,575.
Results of the issue of convertible equity notes as at the end of the pre-emptive rights period
Existing shareholders and other persons who acquired pre-emptive rights during the period in which the rights were traded, exercised pre-emptive rights for 222,655,317 convertible equity notes and the amount of € 1,157,807,648 was paid corresponding to s 97.8% coverage of the total amount of the convertible equity notes issue.
Moreover, over-subscription applications were submitted by holders of pre-emptive rights and subscription applications were submitted by employees and pensioners of the NBG Group, by which a total of 136,882,878 additional convertible equity notes were applied for, corresponding to a 27.5 oversubscription rate for the remaining convertible equity notes following exercise of pre-emptive rights by holders of such rights.
Accordingly, the total number of convertible equity notes applied for by (i) those exercising their pre-emptive rights (ii) those who had over-subscription rights and (iii) rights of employees and pensioners of the NBG Group amounted, in aggregate, to 359,538,195 corresponding to € 1,869,598,614 or a 1,6 oversubscription rate vis-a-vis the total of 227,640,590 convertible notes offered, and corresponding to €1,183,731,068.
The final results of the rights issue and the issue of convertible equity notes, the extent to which demand through the over-subscription process for shares and convertible equity notes and the subscription of employees and pensioners of NBG Group was met, the date the new shares deriving from the share capital increase will be credited to beneficiaries’ accounts, and the commencement of trading of such shares on the Athens Exchange shall be communicated to investors in forthcoming announcements by the Bank, in accordance with the approved Prospectus and previous announcements to investors, following the exercise (or non-exercise) by the Hellenic Republic of its pre-emptive right to acquire unsubscribed new registered shares and convertible equity notes in its capacity of preference shareholder in accordance with the law.
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