ATHENS, April 11 Greece's third-largest lender
Alpha Bank postponed a shareholder vote on its 4.57
billion euro ($6 billion)recapitalisation plan to April 16 after
a meeting on Thursday lacked the required quorum.
Alpha is seeking shareholder approval for a 457.1 million
euro rights issue of new stock, and a further 92.9 million euros
issue on which existing shareholders will waive their rights.
The meeting was attended by shareholders representing just
26.9 percent of the company's shares, below a required quorum of
50 percent. The required attendance in a repeat assembly set for
next week falls to one-fifth of Alpha's voting shares.
Greece's four major banks need 27.5 billion euros in fresh
funds to restore their solvency ratios to levels required by the
country's central bank after incurring losses from a sovereign
debt writedown and impaired loans.
Under the terms of the recapitalisation scheme, at least 10
percent of banks' new common equity must be raised from the
market for them to stay privately run. Alpha has said it plans
to raise 12 percent of the 4.57 billion euros it needs from
private investors to avoid nationalisation.
($1 = 0.7642 euros)
(Reporting by George Georgiopoulos; Editing by David Holmes)