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Totalbanken calls 2 extraordinary general meetings

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Totalbanken calls 2 extraordinary general meetings

Totalbanken A/S will hold two extraordinary shareholders meetings on Aug. 22 and Sept. 5 to discuss a proposed capital increase and consolidation options in the sector, among other things.

The bank said after it had scheduled the late August meeting it received a request by two shareholders holding a stake of at least 5% to discuss a planned capital raise of 90 million Danish kroner to 100 million kroner. Therefore, a second meeting was scheduled for early September, Totalbanken said.

The second meeting will include the requested discussion to hold off the capital raise before industry consolidation options have not been thoroughly explored, according to an agenda published by the bank.

As of Aug. 6, US$1 was equivalent to 6.43 Danish kroner.