Coop Pank AS (hereinafter the Bank) announces that the Bank's shareholder Coop Investeeringud OÜ has notified the Bank that the Bank's shareholders Coop Investeeringud OÜ, Antsla Tarbijate Ühistu, Elva Tarbijate Ühistu, Järva Tarbijate Ühistu, Viljandi Tarbijate Ühistu, Harju Tarbijate Ühistu, Haapsalu Tarbijate Ühistu, Rapla Tarbijate Ühistu, Lihula Tarbijate Ühistu, Jõgeva Majandusühistu, Vändra Tarbijate Ühistu, Tartu Tarbijate Kooperatiiv and TTK Investeeringud OÜ (hereinafter each a separate Shareholder and together the Shareholders) have on November 8th 2021 amended the terms of the shareholders' agreement concluded on July 6th 2020 (hereinafter the Shareholders Agreement). The purpose of the amendment to the Shareholders Agreement is to enable the Shareholders to change the size of their holding in the Bank in a simplified manner, while ensuring the preservatsion of Coop Eesti´s strategic holding.
According to clause 7.8 of the Exchange Rules, the Bank discloses the essential terms and conditions of the amendments made to Shareholders' Agreement:
- According to the amendments the Shareholders have the right to increase their holding (defined as Fixed Holding as of 08.11.2021) by purchasing additional shares from third parties and reselling the excess of the Fixed Holding without following the procedure provided in the Shareholders' Agreement (Increased Participation Trading);
- It was also added to the Shareholders Agreement that the Shareholder has the right to reduce the its Fixed Holding (as of 08.11.2021) by a maximum of 5% without following the procedure provided in the Shareholders Agreement.The Shareholder shall guarantee its Fixed Holding in each calendar year for a period of at least 3 consecutive calendar months.
- Fixed Holding rates are fixed again after each share issue.
The initial notice of the Shareholders Agreement is published here:
Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking reached 110,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic shareholder of the bank is the domestic retail chain Coop Eesti, comprising of 330 stores.
Phone: +372 669 0902
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