On 22 December 2009 the final documents related to receiving the convertible loan of EUR 30 million from the European Bank for Reconstruction and Development (EBRD) were signed. The EBRD shall have a right to convert the loan (in total or its portion) into the ordinary registered shares of Šiaulių bankas AB in the following cases: if shareholders of Šiaulių bankas decide to increase the Bank's share capital; if the Bank's total capital adequacy ratio falls below the minimum level required by the Bank of Lithuania plus 200 basic points; if more than 40% of the Bank's shares would be sold to a strategic investor; if the Loan is not yet fully repaid to the EBRD at any time during the year of 2014. Deputy Chief Executive Officer Donatas Savickas tel.: +370 41 595602.
The documents related to the convertible loan have been signed, the conditions of conversion are being announced
| Source: Siauliu Bankas