OREANDA-NEWS. Extraordinary meeting of SC Parex banka's shareholders will be held on 28 August 2009. The day’s agenda foresees the approval of the new edition of the Bank’s Articles of Association, according to the decision of Parex banka's Management Board made. The new edition of the Articles has been drafted in compliance with the requirements set by the Agreement with the European Bank for Reconstruction and Development (EBRD), reported the press-centre of Parex banka.

The most important changes in the Articles pertain the decision-making procedure providing that any decision of the Board requires a preliminary approval by the Council of the Bank.

Currently, Parex banka’s majority shareholder with 95.3% holding is the Latvian Privatisation Agency. The EBRD will acquire 25% and one share of the Bank.