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07.06.2019

UniCredit Bank Austria will pursue its shareholder rights in 3 Banken at court

UniCredit Bank Austria announces that it has filed actions with the competent national courts in due time in order to enforce in court the special audits of the capital increases of BKS Bank AG (BKS) and Bank für Tirol und Vorarlberg AG (BTV) as provided for in the Austrian Stock Corporation Act. The aim is to clarify the raising and maintenance of capital at the respective banks. This step is necessary as there is evidence that the capital increases - in particular due to the existing cross-shareholding construction and the upstream grant of subsidies - violated the prohibition of the return of capital contributions and the capital raising rules laid down in the Austrian Stock Corporation Act. Information to that end has become available to UniCredit Bank Austria from the end of last year and the suspicious facts have not been addressed by the responsible bodies of BKS and BTV.

In addition, separate special audits against the disputed resolutions adopted at the recent 3 Banken General Meetings will be filed with the competent courts.

The steps taken so far by UniCredit Bank Austria under stock corporation law have already resulted in a payback by shareholder Generali 3 Banken Holding with a total of 10,5 million euros of capital to BKS, BTV and Oberbank again. Thus, an amount exceeding the dividend payment of BTV was recovered for all shareholders.

UniCredit Bank Austria has no intention to change the structure of its ownership in 3 Banken.

Enquiries:           UniCredit Bank Austria Media Relations
                             Martin Halama, Tel.: +43 (0) 5 05 05-52371;
                             E-Mail: martin.halama@unicreditgroup.at