Insider Business Hellenic Bank shareholders reach truce

Hellenic Bank shareholders reach truce

Shareholders representing 91% of Hellenic Bank’s capital ratio yesterday cast a vote at an annual general meeting which saw maximum participation and proved the importance of the role of the newly-elected board members.

The election results seem to satisfy all major shareholders who now have sufficient participation at the new board. Specifically, Demetra Investment – which is currently the biggest shareholder and up until yesterday had no representative at the Bank’s board – has managed to elect three of its proposed candidates.

This could also mean that alleged lack of communication and agreement among major shareholders, especially between Demetra Investment and Wargaming, are not necessarily true.

The new board is made up of independent directors Stephen John Albutt, Irena A. Georgiadou, Evripides A. Polycarpou, Andrew Charles Wynn, Christos Themistocleous, Zion Bahloul and Marco Comastri.

The four non-independent directors appointed yesterday are Marios Maratheftis (Demetra Ivestment), David Whalen Bonanno (Third Point), Kristofer Richard Kraus (Pimco) and Marianna Pantelidou Neophytou (Wargaming).

Proposed candidates who failed to be elected are Ioannis Georgoullas, Kyriaki Pilia and Demetris Efstathiou.

Evripides Polycarpou was appointed as new Chairman of the Board, Andrew Charles Wynn as Vice-Chairman and Senior Independent Director is Stephen John Albutt. Four out of the 11 non-executive board members are new.

Marco Comastri and Marios Maratheftis have already been approved by the relevant supervisory authorities since their nomination documents were sent out some time ago. Approval is still pending for Christos Themistocleous and Zion Bahloul.

That’s why Demetris Efstathiou and Andreas Christofides have been appointed as temporary directors – up until approval is granted to the two newly-elected  members. Amendments to the Bank’s constitution were approved prior to the annual general meeting at an extraordinary one which also took place yesterday. These also regulate the terms under which temporary directors are appointed.

As expected, CEO Ioannis Matsis and CFO Lars Kramer were also appointed at the new board as executive members.

Shareholders representing 91% of Hellenic Bank’s capital ratio yesterday cast a vote at an annual general meeting which saw maximum participation and proved the importance of the role of the newly-elected board members.

The election results seem to satisfy all major shareholders who now have sufficient participation at the new board. Specifically, Demetra Investment – which is currently the biggest shareholder and up until yesterday had no representative at the Bank’s board – has managed to elect three of its proposed candidates.

This could also mean that alleged lack of communication and agreement among major shareholders, especially between Demetra Investment and Wargaming, are not necessarily true.

The new board is made up of independent directors Stephen John Albutt, Irena A. Georgiadou, Evripides A. Polycarpou, Andrew Charles Wynn, Christos Themistocleous, Zion Bahloul and Marco Comastri.

The four non-independent directors appointed yesterday are Marios Maratheftis (Demetra Ivestment), David Whalen Bonanno (Third Point), Kristofer Richard Kraus (Pimco) and Marianna Pantelidou Neophytou (Wargaming).

Proposed candidates who failed to be elected are Ioannis Georgoullas, Kyriaki Pilia and Demetris Efstathiou.

Evripides Polycarpou was appointed as new Chairman of the Board, Andrew Charles Wynn as Vice-Chairman and Senior Independent Director is Stephen John Albutt. Four out of the 11 non-executive board members are new.

Marco Comastri and Marios Maratheftis have already been approved by the relevant supervisory authorities since their nomination documents were sent out some time ago. Approval is still pending for Christos Themistocleous and Zion Bahloul.

That’s why Demetris Efstathiou and Andreas Christofides have been appointed as temporary directors – up until approval is granted to the two newly-elected  members. Amendments to the Bank’s constitution were approved prior to the annual general meeting at an extraordinary one which also took place yesterday. These also regulate the terms under which temporary directors are appointed.

As expected, CEO Ioannis Matsis and CFO Lars Kramer were also appointed at the new board as executive members.

Read more:

https://in-cyprus.com/and-they-lived-happily-ever-after/

Top Stories

Cypriot, UK FMs discuss issues concerning respective nationals amid coronavirus pandemic

Cyprus Foreign Minister Nikos Christodoulides had on Saturday evening a telephone conversation with his British counterpart, Dominic Raab, to discuss developments regarding the coronavirus...

Windy with possibility of showers, dust from this evening

Weak low pressure is affecting the area while there will be dust in the atmosphere from Sunday evening until Wednesday, the Met Office said. Today...

Army in the streets of Johannesburg

Members of the South African National Defence Force (SANDF) patrol the steets on the first day of a nationwide lockdown for 21 days to...

Five arrested for possession of 1.2 kilos of cannabis

Police said they have found 1.2 kilos of cannabis and arrested five youths after a car chase in the Nicosia district. They said that acting...

Trump drops idea of New York lockdown as U.S. death count crosses 2,000

President Donald Trump said on Saturday that he would issue a travel warning for the hard-hit New York area to limit the spread of...

Taste

Village salad

A must-have with every meal is a village salad. You will find it in every tavern or greek restaurant you visit in Cyprus. Make...

Courgettes with eggs

Heat the oil in a frying pan and fry the courgettes at a medium heat until they soften. Add salt and add the eggs....

Classic Pastitsio

Prepare the mince sauce: heat the butter in a pan and sauté the mince with the onion and garlic until nicely browned, mixing well....

Grilled vegetable and goat cheese rolls

Brush the vegetables with olive oil and season. Heat a pan/griddle and cook them carefully until golden on both sides, making sure their shape...