Our opponents in the commercial dispute over Vostochny Bank are attempting to use any means at their disposal to stop an additional share issue that has already been approved by the Central Bank as part of a recovery plan to boost Vostochny Bank’s capital levels.
This additional share issue would mean that the shareholders behind the lawsuit would not have a controlling stake in the bank even if they were able to exercise the disputed call option.
Baring Vostok has informed the Central Bank about the dates of the additional share issue and once again confirmed its readiness to pay for the required number of newly-issued shares, despite the recently-launched litigation.
Baring Vostok believes that the commercial dispute over Vostochny Bank is the only reason behind the detention of the Company’s employees.
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