Ural Transport Bank’s Board of Directors suggested that the shareholders should accept VEK’s proposal to buy the bank’s ordinary registered uncertified shares.

VEK sent an obligatory notification to Uraltransbank, proposing to buy the bank’s 109,447,465 ordinary registered uncertified shares for 6.61 RUR apiece. The bank must accept the proposal or come up with its terms within seventy days of receiving this notification.

This compulsory purchase procedure was guaranteed by Bank Severnaya Kazna.

At the moment, the company’s majority shareholder is Valeriy Zavodov, who owns a 37.77% shareholding in the bank’s authorized capital.