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Media

Citadele Bank

Citadele Banka's New Supervisory Board Approved

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The Financial and Capital Market Commission has approved the newly elected Supervisory Board of Citadele Banka.

Ripplewood Advisors LLC and a group of international investors completed its acquisition of 75 % plus one share of Citadele Banka on April 20th, 2015. The European Bank for Reconstruction and Development (EBRD) will continue to own the remaining 25 % minus one share. The newly approved Supervisory Board was elected by the new shareholders in their first shareholder meeting.

Timothy Collins, James Balsillie, Dhananjaya Dvivedi, David Shuman, Lawrence Lavine and Elizabeth Critchley will be nominated by Ripplewood and the international investor group in Citadele's Supervisory Board. Geoffrey Dunn will continue serving as the EBRD's appointed Supervisory Board member, and he will be accompanied by Sylvia Gansser-Potts. The new shareholders have elected the previous Supervisory Board Chairman Klāvs Vasks as an independent Supervisory Board member. Mr. Dunn and Mr. Vasks have served on Citadele's Supervisory Board since the establishment of the bank in 2010.

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