Ūkio bankas to increase its authorised capital, E. Karpavičienė to chair the Bank’s Supervisory Council, G. Ugianskis – the Board

Ūkio bankas to increase its authorised capital, E. Karpavičienė to chair the Bank’s Supervisory Council, G. Ugianskis – the Board

On 27 March 2009, Ūkio bankas shareholders’ meeting reduced the number of Supervisory Council and Board members. From now on, the Council will comprise five and the Board – three members.

Edita Karpavičienė, who took the position of Ūkio bankas Board chairwoman until now, became chairwoman of the Bank’s Supervisory Council. Gintaras Uginskis was elected chairman of Ūkio bankas Board, and Rolandas Balandis, head of the Bank’s Internet Banking Division, and Arnas Žalys, head of the Bank’s Finance Division, were elected his deputies. Apart from E. Karpavičienė, Antanas Grigaliauskas, director of UAB Ūkio banko rizikos kapitalo valdymas, resigned as Board member.

Liutauras Varanavičius, chairman of Ūkio bankas Supervisory Council, left the Supervisory Council. Lars Ulf Uno Lowenhav and Leonas Rimantas Butkus also resigned from the Supervisory Council.

Ala Kurauskienė became deputy chairwoman of the Supervisory Council. From now on, the Supervisory Council members also include Olga Gončaruk, Gražina Jakavičienė and Viktor Soldatenko.

Ūkio bankas shareholders decided to refrain from paying dividends this year. But the decision was taken to increase Ūkio bankas authorised capital. It will increase nearly 25 percent, from LTL 197 million to LTL 245,824,000.

LTL 49,116,000 will be used from the company’s assets for this purpose. 49,116, 000 shares, of 1 litas par value each, will be issued for this amount. They will be distributed for free to the Bank’s shareholders in proportion to the par value of the shares they held under ownership right at the end of the rights record date of the general meeting.

The amount of LTL 4.6 million was allocated to the legal reserve, and another amount of LTL 86.6 million – the capital reserve.

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