VTB Group announces that VTB Pension Administrator has published an offer to purchase JSC VTB Bank (the ‘Bank’) shares from the Bank’s shareholders who acquired the Bank’s shares as a result of initial public offering in May 2007 and were the Bank’s shareholders as of 1 February 2012.
This offer was published on 2 March 2012 in Rossiiskaya Gazeta.
The offer is being made to the owners of the Bank’s ordinary registered shares, both individuals and legal entities. The offer will be valid starting from 12 March 2012 and will expire on 13 April 2012. The Bank’s shareholders will be able to submit applications to accept the offer in the offices of VTB 24 (JSC).
The purchase price has been set at 13.6 kopecks per share.
The maximum number of shares to be purchased from each seller has been set as the lesser of:
- the number of shares acquired by the seller (or a person from whom the seller inherited the shares) as a result of the Bank’s IPO in May 2007;
- the number of shares held by the seller (or a person from whom the seller inherited the shares) as of 1 February 2012;
- 3 676 471 shares (which is an equivalent of RUB 500,000).
The heirs of those individuals who acquired the Bank’s shares as a result of the Bank’s IPO in May 2007 will be able to sell the shares via the offer if they realized their rights of inheritance prior to expiration of the offer. Settlements with the sellers who acquired the shares as a result of the Bank’s IPO in May 2007 will be completed no later than 30 April 2012; settlements with their heirs will be completed no later than 29 June 2012.
The offer is being made in accordance with the Russian legislation.