erman Financial Market Stabilisation Fund or SoFFin said that it converted silent participations of approximately EUR 230.8 million into some 120 million Commerzbank (CRZBY.PK) shares. In connection with the measure to improve its capital structure announced on February 23, 2012, the execution of the capital increase by means of a contribution in kind of 360.51 million shares was registered in the commercial register today.
The German Financial Market Stabilisation Fund also said that it has
converted a portion of its silent participations into shares in order to
maintain its equity interest ratio in Commerzbank (25% plus one share).
This will result in a portion of the silent participation with a nominal value of about EUR 230.8 million being converted into 120.17 million shares, using the conditional capital authorised in the 2011 Annual General Meeting of shareholders. SoFFin's remaining silent participation in Commerzbank therefore is reduced to approximately EUR 1.71 billion.
With the execution of both capital measures, the total number of Commerzbank shares has increased to 5.59 billion shares. The new shares will be included in stock exchange trading for the first time on March 8, 2012.
by RTT Staff Writer
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