Genoa – The Carige shareholders’ meeting approved the grouping of ordinary shares and the conversion of savings into ordinary ones, as well as the renunciation of liability for the ex summits Cesare Castelbarco Albani and Piero Luigi Montani. This is what can be read in the note released at the end of the meeting
The securities transaction involves the optional conversion of the bank’s savings shares into ordinary shares newly issued (according to a conversion ratio of 20,500 ordinary shares for each savings share that will be brought into conversion) and the grouping of ordinary and savings shares outstanding in the ratio of one new ordinary share for every 1,000 existing ordinary shares and a new savings share for every 1,000 existing savings. Both operations can be implemented no later than December 31, 2020. Securities on the Stock Exchange have been suspended since the beginning of January 2019.