HSH Nordbank: Extraordinary general meeting approves capital increase
Basis for successful realignment established
Hamburg/Kiel, May 20, 2009 - The extraordinary general meeting of HSH Nordbank shareholders today voted in favor of an increase in capital. The Bank will thus receive an injection of three billion euros.
“With today’s decision we have laid an important milestone for HSH Nordbank’s sustainability for the future,” said Supervisory Board Chairman Dr. Wolfgang Peiner after the meeting. “Our focus is very sharply directed forward. With this capital increase the Bank will obtain a solid foundation and will thus be able to ensure lending in our home region – particularly also during this economic crisis. The quarterly result shows that we have taken the first, right steps in this respect. Although the bank again has to cope with losses in the first three months, they are smaller than budgeted. Our Bank is well on its way.”
“The resolution on the capital increase establishes the basis for HSH Nordbank’s successful realignment,” said CEO Dirk Jens Nonnenmacher. “The vote is clear affirmation from the shareholders for the presented plan for taking the Bank forward. We shall apply this confidence to remain being a strong and dependable partner to the regional economy.”
The resolution on increasing the Bank’s share capital was decided unanimously with 100 percent of the equity capital. The increase in capital was the only item on the agenda for the extraordinary general meeting.
In the run-up to the vote the shareholders had agreed upon a reference price of 19 Euro for the new equities.
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