(Finance) – An agreement has been signed between Banca di Asti and the CRT Foundation aimed atentry of the CRT Foundation into the capital of Banca di Asti with a 6% stake, as well as a five-year shareholder agreement between the same CRT Foundation and the CR Asti Foundation. The operation is aimed at supporting the strategic/industrial and long-term development of the bank as one of the main proximity banks for Piedmont and the North of the country, we read in a note.
THE shareholder agreements existing between Fondazione CR Asti and Fondazione Cassa di Risparmio respectively Biella and Cassa di Risparmio Foundation Vercellisigned in December 2019 and expiring in December 2024, are not subject to changes and are expected to be automatically renewed for a further five years until 2029.
“The commitment of the CRT Foundation in Banca di Asti confirms CRT’s attention to the development of the economy of the Piedmontese territories – commented the President of the CRT Foundation, Fabrizio Palenzona – Thanks to the support of all its shareholders, the Asti institution will be able to become a concrete example of a bank widespread across the territories, but also a hub for attracting investments of European caliber at the service of families and the too often forgotten small and very small ones companies, which constitute the wealth and future of our territory”.
On behalf of the Bank of Asti, the President, Giorgio Galvagnoand the CEO, Carlo Mario Demartinicommented: “We are pleased for the confirmation of the support of the member Foundations, to which the CRT Foundation has been added. This strengthens the stability and long-term vision of the Bank’s governance, on which we will be able to base our strategic development even more firmly /industrial of the same, as one of the main proximity banks for Piedmont and the North of the country”.
Fondazione CR Asti and Fondazione CRT have signed a five-year shareholders’ agreement aimed at allowing Fondazione CRT to appointment of a minority director. To this end, the bank’s Shareholders’ Meeting of 29 April 2024 (30 April 2024, in second call) will be called to resolve on the matter.
It was explained that Banca di Asti sold its own shares representing the1.77% approximately of the share capital at a price per share of 8.75 euros, for a total of 10.9 million euros, and has undertaken to sell, in several tranches, further own shares representing the 4.23% approximately of the share capital (for a total of 26 million euros) which is expected to be purchased by the bank on the market in the context of an extraordinary support intervention for the liquidity of the stock.