Business Context and Reporting Period
This Form 6-K filing by Banco de Chile, dated July 13, 2017, reports essential information regarding a capital increase approved by the Extraordinary Shareholders Meeting on March 23, 2017. The filing details the capitalization of 40% of the distributable net income from the fiscal year ended December 31, 2016, through the issuance of fully paid-in shares.
Key Financial Metrics and Capital Structure
- Capital Increase Amount: $133,353,827,359 (Chilean Pesos).
- New Shares Issued: 1,819,784,762 fully paid-in shares (no par value).
- Source of Capital: Undistributed net income from the 2016 fiscal year.
- Post-Issuance Total Share Count: 99,444,132,192 nominative shares.
- Issuance Ratio: 0.02658058439 new shares for each existing share.
Material Changes and Regulatory Approvals
The Bank's bylaws were amended to reflect the capital increase, approved by the Chilean Superintendency of Banks and Financial Institutions via Resolution No. 260 on May 25, 2017. This resolution was registered with the Chamber of Commerce of Santiago and published in the "Diario Oficial" on June 1, 2017. The issuance of shares was registered with the Superintendency on July 11, 2017 (Registration No. 1/2017).
Outlook, Management Commentary, and Implementation
The Board of Directors, in meeting No. 2,862 on July 13, 2017, set July 27, 2017, as the date for the issuance and distribution of the new shares. Shareholders entitled to receive the new shares are those registered in the Register of Shareholders on July 21, 2017. Physical share titles will only be printed for shareholders who submit a written request to the Shareholders Department.
Investor Verification Checklist
- Verify shareholder registration status as of July 21, 2017, to confirm entitlement to new shares.
- Confirm the total post-issuance share count of 99,444,132,192.
- Review the specific terms of the bylaw amendments approved under Resolution No. 260.
- Monitor the distribution date of July 27, 2017, for the allocation of new shares.