UniCredit acknowledges receipt of a letter from Caius Capital regarding the regulatory capital treatment of the shares underlying the Cashes.
The regulatory treatment of the Cashes shares has been fully disclosed to the market and confirmed and reviewed by the competent regulators.
As stated at the end of financial year 2017, UniCredit had a very strong CET1 ratio of 13.60 per cent. The Cashes shares' current contribution to the overall capital position of the Bank has no material impact on the Group's regulatory ratios.
Cashes shares capital treatment is compliant with applicable regulations. There are contractual features to deal with any regulatory development and preserve UniCredit capital position also through the automatic conversion of the Cashes instruments into ordinary shares.
Further details to be posted on the UniCredit website.
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