FIMBank plc – Rights Issue 2014 – Approval of Prospectus

FIMBank p.l.c. announced that it has been granted approval by the Listing Authority for the Prospectus submitted and has received authorisation for the admissibility to listing on the Official List of the Malta Stock Exchange of up to 77,009,494 new ordinary shares in the Company having a nominal value of USD0.50 which will be issued as a result of a rights issue (the “Rights Issue”) to the shareholders on the Register of the Company at the Central Securities Depository of the Malta Stock Exchange as at 21 May 2014 (the “Record Date”). Such shareholders shall be entitled to subscribe to 16 new ordinary shares for every 41 ordinary shares in their possession at the Record Date at a subscription price of USD0.65 (the “Offer Price”). If subscribed to in full at the Offer Price, the Rights Issue will raise gross proceeds of USD50,056,171. 

Any lapsed rights from the Rights Issue will be offered to Financial Intermediaries during an Intermediaries Offer. Furthermore Tunis International Bank S.A. (“TIB”) has, by means of an underwriting agreement, undertaken in  favour of the Bank to subscribe to such number of new ordinary shares under the Rights Issue not subscribed to  during the Intermediaries Offer. The obligation of TIB under the underwriting agreement is limited to a maximum value of USD5,000,000.

To view the official company announcement, click here.