Alior EGM fails to approve share issue

The EGM of Alior Bank, held on Friday, failed to approve a resolution on the conditional issue of shares for the purpose of taking over Meritum Bank, according to a statement made after the meeting. The bank said that the resolution did not go through because of a misunderstanding between a shareholder and their proxy. It plans to talk to shareholders to ensure that the acquisition can take place. Earlier in October, Alior Bank announced it had signed an agreement to take over Meritum Bank from Innova Capital and the European Bank for Reconstruction and Development for PLN 352.5 million.