April 24, 2020 / 2:30 PM / a month ago

BRIEF-Creval Shareholders Approved Reverse Split Of Bank's Ordinary Shares And Liability Action

April 24 (Reuters) - Banca Piccolo Credito Valtellinese SpA :

* SHAREHOLDERS APPROVED REVERSE SPLIT OF BANK’S OUTSTANDING COMMON STOCKS, WITHOUT NOMINAL VALUE, BASED ON A RATIO OF NO. 1 ORDINARY SHARE EVERY NO. 100 OUTSTANDING ORDINARY SHARES

* TO BRING CORPORATE LIABILITY ACTION AGAINST CERTAIN FORMER DIRECTORS, STATUTORY AUDITORS AND TOP MANAGERS IN OFFICE BETWEEN 2008 AND 2016

* LIABILITY ACTION IS IN RELATION TO MANAGEMENT FACTS AND/OR CONDUCTS, SPECIFICALLY REGARDING GRANTED LOANS, BREACHING PRINCIPLES OF PRUDENT AND SOUND MANAGEMENT. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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