Results of the subscription of shares issued in connection with the option programme

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Coop Pank AS
Coop Pank AS

The supervisory board of Coop Pank AS (hereinafter the Bank) decided on 18 May 2022 to increase the share capital of the Bank by 47 701,82 euros to enable the realisation of the options issued in the framework of the option programme. The subscription period of the private placement to the option holders was from 19 May to 20 May 2022.

Three current and former employees of the Bank were able to participate in the issue, subscribing altogether for 70 000 shares for the total amount of EUR 58 940, making 100% of the issue size. All option holders submitted a subscription application and paid timely for the subscribed shares.

During the increase of the share capital, 70 000 new ordinary shares of the Bank will be issued at a book value of EUR 0,6814546 per share. According to the terms and conditions of the option programme, the issue price of the shares was EUR 0,8420 per share. EUR 0,6814546 of the issue price is the book value of a share and EUR 0,1605454 is the share premium. As a result of the issue, the Bank’s share capital will increase upon registration of the increase of share capital in the commercial register from EUR 62 185 578 to EUR 62 233 279,82 and the number of shares from 91 254 176 to 91 324 176.

The Bank will apply for the listing and the admission to trading of the shares to be issued within the issue on the Nasdaq Tallinn Stock Exchange. The first estimated trading day of the new shares shall be the first day following the day when the Bank has informed Nasdaq Tallinn Stock Exchange of the registration of the increase of share capital in the commercial register and identifying the new shares with the ISIN-code of EE3100007857.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 125 400 clients who use everyday banking services. Coop Pank uses the synergy created between retail trade and banking and brings everyday banking solutions closer to people. The majority shareholder of the Bank is a domestic retail chain Coop Eesti, the sales network of which comprises 330 stores.

Additional information:
Paavo Truu
CFO
Phone: 5160 231
E-mail: paavo.truu@cooppank.ee