Green light from the Monte dei Paschi board of directors for a capital increase of up to 3 billion euros

The Mps Board meeting convened for 9 this morning to deliberate on the capital increase has concluded. The board has given the go-ahead for the capital increase of up to three billion. Upon leaving Rocca Salimbeni, the president Alessandro Profumo did not make any statements. The board of directors had been summoned suddenly with a note yesterday afternoon. Previously, the management had underlined that the bank was willing to proceed with the increase as soon as possible, preferably in the end of January, or at the latest in June. The board of directors also approved the proposal to split the shares in the ratio of 1 new ordinary share for every 100 existing ordinary shares, to be carried out before the capital increase. The shareholders' meeting has been convened for 27 December on first call, 28 on second call and, if necessary, 30 December on third call. While awaiting the board of directors, the MPS share had collapsed by 9% with suspension due to excessive downtrend. After the communication from the bank, the stock drops 6,3%