VersobankNewsNews archive2018Auction of the portfolio of securities

Auction of the portfolio of securities

27.06.2018

Dear Clients of Versobank AS (likvideerimisel/under liquidation)


As part of the liquidation procedure, Versobank AS (likvideerimisel/under liquidation) – hereinafter Versobank, sets out for sale its own portfolio of securities on an auction basis.


The auction involves the sale of securities to Versobank customers only both by using the funds outside Versobank, and by using accounts in Versobank.


The participation in the auction does not cancel any payments on already issued client applications for reimbursement of the assets.


Conditions of the Auction:


Auction opening day: 27.06.2018 (all times are displayed in the time zone of Estonia, Tallinn)


Publishing of the prices: 10.30, source - statistical and trading system Bloomberg


Opening of the auction and the beginning of the acceptance of the applications: 10.30


Minimum lot traded of every security: 250 000


Closing of the auction and completion of acceptance of the applications: 13.00


Application form: a letter to the bank via the Internet bank of Versobank


Results of the Auction: at 17.00 by notifying the customer through the Internet-bank of Versobank about the completed purchase of the security. The client who received the notification of the done purchase of a security must provide to Versobank the details of its securities account, the name of the custodian bank and the contacts of the back-office of the custodian bank through the internet bank. The security will be settled on T + 3 terms.


Cycle of the Auction: the auction will be conducted on a daily basis with the publication of the updated list of securities on the Versobank web page until the total sale of the portfolio or the liquidators' decision to terminate the auction.


Requirements to the client: availability of Versobank internet banking; availability of a custody account in another bank; positive decision regarding the transaction of the financial monitoring department of Versobank (including AML checking)


Securities offered via auction:


Auction prices 27.07.2018