OREANDA-NEWS. March 17, 2008. The Management Board of AB DnB NORD Bankas, a member of the international banking group, offers its shareholders to channel profit for further growth of the Bank and invest more to increase the Bank’s share capital to LTL 591 million.

The proposal will be discussed in the forthcoming annual meeting of shareholders scheduled for March 28.

AB DnB NORD Bankas Management Board proposes to allocated LTL 152,5 million of undistributed profit and LTL 29,3 million premium having resulted from the previous share issue allotment for the new capital increase by issuing 1 581 267 new ordinary nominal shares at par value of LTL 115 each. The shares would be distributed free on a pro rata basis to the Bank’s shareholders.

The Management Board also proposes the shareholders to increase authorized capital even more from additional contributions by issuing 395 316 new ordinary nominal shares with par value of LTL 115 each. The minimum issue price offered is LTL 370 per share with aggregate minimum issue price of LTL 146,3 million. The new shares would be paid in cash and would be available to the existing Bank’s shareholders.

Subject to the shareholders’ approval, the authorized capital of DnB NORD Bankas would increase by LTL 227,3 million to LTL 591 million, according to the plan.

The shareholders are also offered to approve AB DnB NORD Bankas 2007 consolidated annual report and financial statements and also to select Ernst & Young Baltic as an auditor for financial statements for the year 2008.

The shareholders are also expected to elect Tony Samuelsen as a new member of the Bank’s Supervisory Council. He would replace council member Pal Skoe who intends to step down from the position. Both Supervisory Council members represent the largest Norway’s bank DnB NOR.
AB DnB NORD Bankas is part of DnB NORD banking group that was established by the Norway’s largest bank DnB NOR and North Germany’s largest bank NORD/LB. DnB NORD Bankas runs three subsidiaries in Lithuania: asset management firm UAB DnB NORD Investicijш Valdymas, leasing arm UAB DnB NORD Lizingas and real estate brokerage UAB DnB NORD Bustas