47th PRESS RELEASE OF HELLENIC INVESTORS ASSOCIATION
13 April 2021
Hellenic Investors Association’s actions after the unanswered questions at the PIRAEUS BANK GM. (GENERAL MEETING)
At the GM of Pireaus Bank held in 7-4-2021, there was no reasonable explanation given by the Board of Directors for its abrupt reversal, so that to explain how, from the statements of 27-10-2021 that «there is no supervisory need to raise the share capital whatsoever (sic)», to today’s devastation of the shareholders’ assets. The questions of many shareholders were bright and clear, however, they were not answered: «What changed from October and the (unnecessary until then) Share Capital Raise was decided ? » . At the GM we heard many half-truths (we will analyze them in another Press Release) that referred to forecasts, loan obliterations and lawsuits that the Direction didn’t perform, while its indifference for the shareholders was proved by its negligence to «forget» to suggest in the GM, as the minimum remuneration for the current shareholders, to attribute to them the mezzanine bond of 1 billion from the 4 securitation of titles PHOENIX , VEGA , SUNRISE 1 & 2 , but it generously grants them as a gift to the new shareholders.
