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STB - M&A plan got approval - AGM Note

We attended Sacombank’s 2014 AGM on Mar 25, 2014 and here key takeaways: M&A plan with Southern Bank got approval in principle. The M&A plan with Southern Bank (PNB) was initially in the face of many objections but ultimately got approval in principle reaching high agreement ratio of 97% (vs. the legally required threshold of 65%).