REG - Bank of Cyprus Hldgs - BOCH Explanation following its AGM on 20 May 2022

Bank of Cyprus HoldingsAnnouncement

16/11/2022 09:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221116:nRSP6122Ga&default-theme=true

RNS Number : 6122G  Bank of Cyprus Holdings PLC  16 November 2022

 

 

Announcement

 

Explanation provided by Bank of Cyprus Holdings following its Annual General
Meeting held on 20 May 2022

 

Nicosia, 16 November 2022

 

 

The Annual General Meeting of Bank of Cyprus Holdings Public Limited (the
"Company" or the "Bank") was held on Friday, 20(th) May 2022.  Mr Arne
Berggren was re-elected by receiving 98,825,604 votes in favour of his
re-election representing 71.6% of the total votes cast.

After this result and pursuant to the provisions of the 2018 UK Corporate
Governance Code which apply where more than 20% of votes are cast against a
resolution, the Chairman of the Board has been in contact with the
shareholders that voted against Mr A. Berggren's re-election, to understand
the reasons behind their negative vote.  Given the fact that the Bank has now
exited the phase of remediation and deleveraging, some of the shareholders
consider that Mr A. Berggren, originally appointed as a representative of the
European Bank for Reconstruction and Development (the "EBRD"), no longer has a
role to perform as a member of the Board.  The Chairman reassured the
shareholders as to the commitment of Mr A. Berggren to the new era and
strategy of the Bank and his significant contribution to the workings of the
Board and Board Committees.

 

Group Profile -

 

The Bank of Cyprus Group is the leading banking and financial services group
in Cyprus, providing a wide range of financial products and services which
include retail and commercial banking, finance, factoring, investment banking,
brokerage, fund management, private banking, life and general insurance. At 30
June 2022, the Bank of Cyprus Group operated through a total of 86 branches in
Cyprus, of which 11 operated as cash offices*. At 30 June 2022, the Group's
Total assets amounted to €25.8 bn and Total equity was €2.1 bn. The Bank
of Cyprus Group employed 3,422 staff worldwide**. The Bank of Cyprus Group
comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank
of Cyprus Public Company Limited and its subsidiaries.

*The number of branches and cash offices were reduced by 15 and 7 respectively
on 1 July 2022.

** The number of staff has been reduced by c.550 employees following the
completion of a voluntary staff exit plan in July 2022.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAPFKFSNAFEA