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CHANGE OF MAIN SHAREHOLDER IN ARMENIAN ARMIMPEXBANK

29.06.2007, 02:55
The notification for the shareholders located in the bank’s official site said that the Supervisory Board of the “Armimpexbank” CJSC in its decision of June 25, 2007 convoked a special session for shareholders to conduct absentee ballot on this issue.
YEREVAN, June 28. /ARKA/. Change of the main shareholder is expected in the Armenian Armimpexbank. The notification for the shareholders located in the bank’s official site said that the Supervisory Board of the “Armimpexbank” CJSC in its decision of June 25, 2007 convoked a special session for shareholders to conduct absentee ballot on this issue.

The main issue on the agenda is to sell the shares to a third person who is not a shareholder of the bank and the agreement on obtaining the significant participation in the bank’s authorized capital. The bank provides no official information either on the results of voting or on the agreement.

At present the main shareholder of the “Armimpexbank” CJSC is Computron Industries Establishment which belongs to famous British businessman of Armenian origin Vache Manukyan. The Company has 46,549 shares out 50,000 (93.1%). Manukyan also has 30% of the “HSBC Bank Armenia”.

At the same time, according to unofficial information, the main pretender to the shares of the “Armimpexbank” CJSC is Russian investment company “Troika-dialogue”, headed by Russian businessman Ruben Vardanyan.

Earlier Chairman of the Central Bank of Armenia (CBA) Tigran Sargsyan informed that seven foreign banks and financial structures expressed wish to launch business in Armenia, among them Post Bank, Russian Gasprombank, Bank ProCredit, Rayffayzenbank (Austria) and Lebanese Biblos Bank.

“Armimpexbank” CJSC was established in July 1992 on the basis of the republican department of “Vnesheconombank” of the previous USSR and was registered on September 8, 1992. In April 1995, it became a shareholding bank with the participation of a foreign capital.

As of March 31, 2007, the assets of the bank made AMD 11.6bln, the total capital – AMD 3.4bln, balance sheet profit – AMD 324.9mln, profit of 2006 made AMD 253.7mln and of the 1st quarter of 2007 – AMD 44.1mln. The authorized capital makes AMD 2,028mln. ($1 – AMD 341.66). L.M. –0--