VAB Bank shareholders to vote on share issue April 28

VAB Bank shareholders will vote at their upcoming AGM on April 28 on increasing the company’s charter fund by 71% to UAH 927.6 mln via an additional share issue. VAB’s major shareholder, Netherlands-based private equity fund Kardan N.V., announced in January it would increase its stake to 98% by buying out local shareholder Sergey Maksimov’s 35% stake for EUR 24 mln in 2010.