Announcement [30.1.2012]
Pursuant to its market announcement dated 30 January 2012 and a letter of the
Athens Exchange apprising the Alpha Bank of the decision to temporarily suspend
trading of its shares, the Bank makes the following known:
1) In its market announcement of today, the Bank informed the investing public
that, at present, it cannot provide an accurate estimate of the timetable, and
the overall development, of the merger between the Bank and Eurobank
EFG, due to the current macroeconomic developments directly impacting on
the banking sector (Private Sector Involvement – PSI).
2) It is further noted that the resolution of the General Meeting of the Bank’s
Shareholders, dated 15 November 2011, had neither taken into account, nor
considered, the impact of the then announced, on 26 October 2011, financial
support plan for Greece (PSI+); this was because each bank’s Board of
Directors had confirmed to the other and to the respective General Meeting of
shareholders that it was unable to determine the impact of the PSI+ due to
the (then subsisting) lack of clarity about the terms of its implementation.
Accordingly, the aforesaid resolution of the General Meeting of the Bank was
premised on the previously announced draft PSI (dated 21.7.2011), to the
exclusion of any subsequent developments.
3) In light of the foregoing, the Bank intends to await the finalization of the terms
of the PSI (the impact whereof is expected to affect the parties in a
disproportionate manner) and shall then convene the Bank’s General Meeting
of shareholders, so that the latter can be duly informed and resolve upon
accordingly.