OREANDA-NEWS. November 16, 2009. The Latvian Finance and Capital Market Commission permitted Mr. Vladimir Antonov, who is also the main shareholder of AB Bank SNORAS, to acquire and manage up to 33 per cent of the shareholding of the Latvian bank AS “Latvijas Krajbanka”. Having obtained the aforementioned permission, Mr. Vladimir Antonov for LTL 45 million purchased 6 174 978 shares of the new emission, reported the press-centre of Bank SNORAS.

The decision to issue the new emission of shares was adopted during the extraordinary shareholders’ meeting of AS “Latvijas Krajbanka”, which took place on 7 September 2009. The meeting decided to increase the authorized capital of the bank by LVL 6,175,000 by issuing 6,175,000 units of ordinary shares of LVL 1.00 nominal value. The shares were distributed for LVL 1.5 per share.

The entire emission was successfully distributed. Since the shares were distributed for the higher price than their nominal value, after the emission distribution and the registration of the changes of the bank’s statute, related to the increase of the main capital, AS “Latvijas Krajbanka” main capital grew by LVL 6,175,000 and the entire capital of the bank – by LVL 9,262,500 (LTL 45.09 million).

After distributing the new emission of the shares, AB Bank SNORAS manages 53.11 per cent of the main capital of the bank AS “Latvijas Krajbanka” and Vladimir Antonov – 31.96 per cent (i.e. the total managed amount of the bank’s capital is 85.07 per cent).