Introduction
The purpose of this Memorandum is to extensively present the methodology that will be applied in the share capital increases realized for the Recapitalisation of the Greek Banks, in order to determine the adjusted price of the shares on ex-date, as well as, the theoretical price of the rights. These two prices will be set as start prices in ΟΑΣΗΣ (the Advanced Electronic & Automated System for Securities Trading of ATHEX) upon commencement of trading of the old shares on ex-date and upon commencement of rights’ trading, correspondingly. The following calculations become effective, by implementation of par. 6 of Decision Nr. 26 of the ATHEX BoD.
The Greek Banks appointed for Recapitalization, according to their announcements, proceed to share capital increases (SCI) with the issue of new common shares in order to raise the total amount of € 28.6 billion. The terms for realizing those SCIs are defined by the provisions of the Law 3864/2010 and of the Ministerial Council Act (M.C.A.) Nr. 38/9.11.2012.
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