Ceska sporitelna will call an EGM on Monday, October 22, with the only issue on the agenda - an approval of a change in transferability of preference stock in order to allow municipalities to sell their stock (they own 11.2 mil. shares in total, i.e. 7.38% of registered capital of Ceska sporitelna) to Erste Bank. The preferred stock, which may currently be traded only among municipalities, will be made transferable, but only with the approval of the bank’s Board of Directors. Neutral for minority holders of the common stock.
(Ondrej Datka)