(Authorisation to be given to the Board to cancel shares and reduce the capital)
The Extraordinary Meeting, having reviewed the report of the Board of Directors and the Auditors' special report, authorises the Board of Directors to cancel shares acquired under the authorisation given in the sixth resolution of this Meeting – provided that the number of shares cancelled does not exceed 10% of the Bank's issued capital - and to reduce the capital accordingly, and to debit any difference between the price paid for the cancelled shares and their par value against additional paid-in capital or revenue reserves.
The Extraordinary Meeting gives full powers to the Board of Directors to use this authorisation, including by delegation, to amend the Articles of Association to reflect the new capital and to carry out any and all publication and other formalities.
This authorisation is given for a period of eighteen months.
This authorisation cancels and replaces the unused portion of any earlier authorisations to the same effect.
Presentation of the resolution
The sixteenth resolution concerns an 18-month authorisation to be given to the Board to cancel shares acquired under the authorisation given in the sixth resolution. The share cancellations would not have the effect of reducing the capital by more than 10%. This authorisation will have the effect of cancelling the unused portion of any earlier authorisations to the same effect.