Capital increase
The Board of Directors of Yapı Kredi Bank resolved on 15 May 2008 to: (I) increase the Bank’s issued capital of YTL3,427,051,284.00 within the Bank’s registered capital of YTL5,000,000,000.00 to YTL4,347,051,284.00 with an increase of YTL920,000,000 in cash; (II) invite all shareholders of the Bank to exercise, proportionately with their share of the Bank’s share capital, their pre-emptive rights at nominal value, during a 15 days period which will be announced in the circular; (III) realize for those new shares on which the pre-emptive rights have not been exercised within the given time-limit the sale in the stock exchange for 3 working days at a price prevailing on the Istanbul Stock Exchange (ISE) on the condition that such price shall not be less than the nominal value; (IV) authorise the Head Office to make the necessary applications to the Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board (CMB) in order to get the necessary approvals for the capital increase and to the Central Registry Agency (CRA) for registration of the shares; to prepare the relevant documents, to approve the announcements and the other related declarations and documents; and to perform all other transactions required for the capital increase to be realized.
The rights offering and subscription period is planned to take place within July 2008 and the official process is expected to be completed during 3Q 2008 subject to regulatory approvals.
The capital increase is aimed at further supporting Yapı Kredi’s long term growth plan on the basis of the recent successful developments of the Bank with the opening of 110 branches in the last 9 months and confirmed by strong quarterly results (YTL 447 mln of consolidated 1Q net income, +108% YoY, +76% YoY on a normalised basis) announced to the market today. In connection with Yapı Kredi capital increase, the Extraordinary Shareholders’ Meeting of Koç Financial Services (KFS), controlling shareholder of Yapı Kredi, has approved today the capital increase of KFS to allow KFS to subscribe in full its prorata share of Yapı Kredi capital increase.
İstanbul, 15 May 2008
Enquiries:
Yapı Kredi Investor Relations
Tel: (90) (212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 15 May 2008