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SLSP meeting to approve capital increase

A special shareholders meeting scheduled for December 7 at Slovakia's largest commercial bank, Slovenská Sporiteľňa (SLSP) will be asked to approve an increase in the bank's registered capital by 4.9 billion Slovak crowns from the current 2.1 billion crowns.

The capital increase will come as part of the process of the bank's restructuring. Shareholders should also deal with changes in the company's statutes, changes to the supervisory board, approve issue of the mortgage-backed bonds and approve a report on progress of the bank's restructuring.

The majority shareholder in SLSP is the FNM national privatization agency, controlling 91.33% of shares. The registered capital increase should be carried out through a private subscription without an initial public offer. The subscription should to take place on December 10.

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