Bank of Valletta plc – Rights issue of €150 million worth of new ordinary shares

The Board of Directors of Bank of Valletta p.l.c. announced that it has authorised the submission of an Application for Authorisation for Admissibility to Listing to the Listing Authority requesting the approval of a prospectus (the “Prospectus”) in relation to the Rights Issue. The Rights Issue will be offered to existing shareholders appearing on the register of members as at the close of business on the 26 October 2017.

Application will be made, in respect of the new shares, to the Malta Stock Exchange for their admittance to the Official List and for trading to commence thereafter.

The new shares to be issued will be aimed at further strengthening the Issuer’s common equity tier 1 (CET1) capital such that the Issuer will be in a better positon to meet its future business requirements and the capital buffers required for such business requirements. The proceeds from the Rights Issue will also be used by the Issuer to meet its general funding purposes.

Further detailed information on the Rights Issue, shall be available in the Prospectus, which document will be available in due course following attainment of the necessary regulatory approvals.

To view the full announcement click here.