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Attica Bank S.A. informs its investors that the Board of Directors during at its today’s meeting, November 10 2020, following the resignation of the Chairman of the Board and non-executive member, Mr. Konstantinos Mitropoulos, elected a new Chairman of the Board, Mr. Konstantinos Makedos and Mr. Konstantinos Tsagkaropoulos as Vice President and was reconstituted as follows:

 

  1. Konstantinos Makedos, Chairman of the BoD (Non-Executive member)
  2. Konstantinos Tsagkaropoulos, Vice – Chairman of the BoD (Non-Executive member)
  3. Theodoros Pantalakis, Chief Executive Officer (Executive member)
  4. Ioannis Tsakirakis, Deputy Chief Executive Officer (Executive member)
  5. Antonios Vartholomaios, Deputy Chief Executive Officer (Executive member)
  6. Alexios Pelekis, (Non-executive member)
  7. Georgios Doukidis, (Independent Non-executive member)
  8. Eleni Koliopoulou, (Independent Non-executive member)
  9. Charitonas Kyriazis, (Independent Non-executive member)
  10. Andreas Taprantzis, (Independent Non-executive member)
  11. Aikaterini Onoufriadou, (Additional non-executive member and representative of the Greek State under the provisions of Law 3723/2008, as in force)

At today's meeting, the responsibilities and the representation of the Board of Directors have been also redefined. The term of the Board of Directors remains as determined by the decision of the Shareholders’ General Meeting dated 02.09.2020, i.e. three years.

 

ATTICA BANK S. A.

 

Following a relevant request from the Capital Markets Committee and the announcement of 16.09.2020 of the Bank, Attica Bank informs its investors that:

With the new structure, the Bank proceeded to the restructuring of Artemis transaction, in accordance with the new supervisory framework for securitizations of non-performing loans /exposures (“NPE”), as in force from 01.01.2020. In this context, a Mezzanine Note of a nominal value of €38 million is created.

Furthermore, the restructuring settles the flows of the involved parties/bond-holders of Artemis transaction, as well as the servicer’s payments, achieving a balanced distribution of the future cash flows from the NPEs portfolio management, with front-loaded collections for the Bank, while the total estimated collections from Artemis portfolio remains unchanged.

Therefore, the above-mentioned amendments provide improved valuation of bonds value that will be quantified over the lifetime of the securitization. The final impact of the restructuring of Artemis transaction will be reflected in the interim condensed Financial Statements of September 30, 2020.

 

ATTICA BANK S.A.

Attica Bank S.A. informs its investors that, following the election of a new four-member Independent Audit Committee by the Extraordinary General Meeting of its shareholders convened on September 2, 2020, the Audit Committee at its meeting on September 3, 2020 unanimously elected Mr. Dimitris Tzanninis as its Chairman.

The composition of the Audit Committee and the status of each member are as follows:

  1. Dimitris Tzanninis, Non - member of the Board of Directors of the Bank and Independent from the Bank within the meaning of par. 1 (d) of article 44 of law 4449/2017, as Chairman of the Audit Committee.
  2. Stavros Papagiannopoulos, Non - member of the Board of Directors and Independent from the Bank within the meaning of par. 1 (d) of article 44 of law 4449/2017, as Member of the Audit Committee.
  3. Alexios Pelekis, Non-Executive Member of the Board of Directors, as Member of the Audit Committee.
  4. Eleni Koliopoulou, Independent Non-Executive Member of the Board of Directors, as Member.

The term of the Audit Committee is three years.

 

 

ATTICA BANK S.A.

Attica Bank S.A. informs its investors that the restructuring of the Bonds of the Artemis Project was completed today, in accordance with the new supervisory framework and furthermore, the increase of the cash receipts received by the Bank, the improvement of the bonds and the management efficiency optimization.

In particular, with this new structure the Senior Note amounts to a nominal value of € 487 million, a Mezzanine position of a nominal value of €38 million is created, a new position A2 of a nominal value of €61 million is created and the nominal value of the Junior Note amounts to € 806 million. The impact of this transaction on the financial position and the financial results of the Bank will be reflected in the interim condensed Financial Statements of September 30, 2020.

It is noted that within the framework of the Artemis Project, Attica Bank has implemented the first securitization of non-performing loan portfolio, and transferred to an investor, one of the bonds (Junior Note) that resulted from this securitization. The management of this portfolio has been assigned to the company under the L. 4354/2015 and under the name "THEA ARTEMIS - LOANS AND CREDIT CLAIM MANAGEMENT SOCIETE ANONYME", in which the Bank holds a percentage of 20% of its share capital.

Upon the successful completion of this beneficial transaction for the bond holders, the Bank and its shareholders, Attica Bank managed to shield further its first non-performing securitization of its exposures.

 

ATTICA BANK S.A.

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