MONETA: Institutional Shareholder Services has recommended a vote on the acquisition of Air Bank

The global company – Institutional Shareholder Services (ISS) – has recommended voting for the proposed merger of MONETA Money Bank and the Air Bank Group, including equity financing. ISS acts as a so-called proxy advisor, which analyzes and publishes independent recommendations for investors in relation to voting at general meetings. These recommendations are mainly used by renowned institutional investors.

ISS has issued a positive recommendation that Moneta’s shareholders vote in favor of the proposed acquisition of the Air Bank Group. According to the ISS, the tact recommends that the shareholders vote in favor of the Moneta chapter, including the amendments to the Articles of Association. Institutional Shareholder Services (ISS) has been operating in 30 U.S. and international locations since 1985 and is one of the world’s leading consulting slueb v oblasti investment and market information for institutional investors and corporations around the world.

The ISS undoubtedly accepted the change in the terms of the proposed acquisition and the method of its financing. It is recommended to vote for the proposals of the management is in accordance with our principles, or the proposed conditions completely contain positive changes. If the proposal for this acquisition receives support in a number of two-thirds or more shareholders, then increase the vision of medium and long-term strategy over the short term. I personally hope that our acquisition proposal and its financing will succeed and we will open way how to realize our ambitions in the next five years, stated in this connection the Chairman of the Board of Directors MONETA Money bank Tom Spurn.

MONETA first saw the acquisition proposal in the autumn of 2018. Subsequently, this proposal and the associated offer was rejected. PPF group v noru 2019. In January
2021 PPF made a voluntary public offer, through which it gained 29.94% ownership interest in Monet. Subsequently, a general meeting was held in June this year, which was attended by more than 73.21% of the shares. At this general meeting, 61.9% of the shareholders voted for the acquisition of Monety, and 61.7% voted for the outer capital: at least 75% of the votes had to be won for approval.

The shareholders will decide on the current proposal for the upcoming General Meeting, which will be agreed on December 20 this year. Inviting its own capital requires the support of at least two thirds of the present shares.

Institutional Shareholder Services (ISS) has been operating in 30 U.S. and international locations since 1985 and is one of the world’s leading consulting slueb v oblasti investment and market information for institutional investors and corporations around the world.

MONETA Money Bank

MONETA Money Bank, as, is a leading independent Czech bank providing services to its customers through nationwide branches of st. Since its entry into the Prague Stock Exchange in 2016, the bank has had a strong position in the retail and agricultural sectors and outsources its services to small and medium-sized enterprises. In addition, the bank provides other products such as insurance or investment funds. MONETA Money Bank clients make up more than 9% of the Czech Republic’s population and use its multi-channel strategy, which includes more than 230 branches, 630 ATMs, a digital banking application that is the market leader, and according to its own call center, car dealer, financial intermediaries and leasing partners.

You inform: www.moneta.cz

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