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BOC: Listing of shares on the CSE and ATHEX expected in December.

Bank of Cyprus announced that it is proceeding with the listing on the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) of its unlisted ordinary shares. The Bank has filed a draft Prospectus with the Cyprus Securities and Exchange Commission with respect to the listing of its unlisted ordinary shares on the CSE and ATHEX and the Retail Offer.

Subject to obtaining required regulatory approvals, the Prospectus is expected to be issued within the next couple of weeks and the listing is expected to occur in December 2014.

Shareholders are required to have an active Investor Share Code and Securities Account with the CSE or the Dematerialised Securities System (DSS) of the Hellenic Exchanges in order for ordinary shares to be credited to their account so that they will be able to trade these shares as soon as they are admitted to trading.

The Bank has on several occasions contacted its shareholders that hold ordinary shares as a result of the bail-in by post; the latest letter to these shareholders requested that the relevant information related to their Investor Share Code and Securities Account on the CSE or the DSS be provided by 24 November 2014.

The Bank urges all shareholders that do not have an Investor Share Code and Securities Account with the CSE or the DSS to apply directly to an Operator (Brokerage Firm or Custodian) in Cyprus or Greece in order to proceed with the opening of these accounts and provide the relevant details to the Shares & Loan Stock Department of the Bank (via fax no +357 22336258/+357 22336261 or via email at ).

It is important to note that, if shareholders do not have an Investor Share Code and Securities Account with the CSE or DSS or if the information regarding their Investor Share Code or Securities Account provided by shareholders to the Shares & Loan Stock Department is incorrect or incomplete, the ordinary shares held by these shareholders will be credited in their name to an Investor Share Code with the CSE which will be inactive unless and until shareholders take appropriate action to activate this account and pay the relevant fees. Please note that this process may be difficult and time consuming and will cause delays in a shareholder's ability to trade the shares on the CSE and ATHEX.

The Bank will cease to effect share transfers via its Shares & Loan Stock Department as of 3:00PM on 21 November 2014. Once the Bank's unlisted ordinary shares are admitted to listing and trading on the CSE and ATHEX, the procedure for the transfer of shares as per the Bank's announcement of 30 January 2014 will cease to apply.

The record date for the Retail Offer will be 3:00PM on 21 November 2014.

Shareholders of the Bank will be eligible to participate in the Retail Offer unless they are resident or located in certain excluded jurisdictions such as Australia, Canada, Japan, South Africa or the United States (Qualifying Shareholders).

The Retail Offer is an invitation by the Bank to Qualifying Shareholders to apply to subscribe for up to a total of 416.666.667 new ordinary shares at a price per share of e1/40,24.

The exact terms and timing of the Retail Offer and its subscription period will be set out in the Prospectus.

Guaranteed Bonds

Bank of Cyprus announce also that following the approval of the Central Bank of Cyprus, the Republic of Cyprus (Ministry of Finance) as Guarantor and the holders of Euro 500 mn Guaranteed Bonds (K[eth]N[eth]a[eth]i[eth]o/BOCYG) with ISIN Code CY0143940118 issued on 14 November 2012, the maturity date of the Guaranteed Bonds changes from 13 November 2014 to 13 November 2017 with effect from 12 November 2014.

All the other terms of the Guaranteed Bonds remain unchanged and in force.

These changes do not affect the BankA[sup.3]s obligations to the holders of the above bond. The Guaranteed Bonds were issued under the provisions of the Law on the Granting of Government Guarantees for Loans and/or Bonds issued by Credit Institutions, of 2012 (L.156(I)/2012) and the Decree on the Granting of Government Guarantees for Loans and/or Bonds issued by Credit Institutions, of 2012 (Regulatory Administrative Acts 439/2012) and, the 396/2013 and 504A/2014 Decrees.

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Publication:Financial Mirror (Cyprus)
Date:Nov 14, 2014
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