PPF Group acknowledges the approval by Moneta shareholders at the General Meeting today of the acquisition of shares in Air Bank and Czech and Slovak Home Credit, and the decision to not approve an increase in Moneta’s share capital by the required margin of votes.
The result of the Extraordinary General Meeting for PPF means the following:
Consent of Moneta shareholders to the acquisition of assets in the Air Bank Group confirmed the agreed valuation of these assets and also confirmed that most existing Moneta shareholders support the plan to merge Moneta with Air Bank and the Czech and Slovak Home Credit.
Tanemo of the PPF Group remains Moneta’s largest shareholder with a stake that allows it to exercise major influence over the General Meeting’s decisions. PPF has extensive experience as the co-owner of publicly traded companies with varied shareholder groups. PPF has often proved its capabilities in governing the tough challenges arising from this type of environment.
In parallel with its stake in Moneta, PPF will continue develop its strategic investments in Home Credit and Air Bank. Air Bank is fulfilling PPF’s vision of a digital bank with dynamic growth. PPF anticipates significant growth in the value of Air Bank in the future.