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Bank of Valletta p.l.c – Company Announcement

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Bank of Valletta Rights Issue

Bank of Valletta has authorised the submission of an Application for Authorisation of Admissibility to Listing in Relation to the Rights Issue. The Rights issue will be offered to the existing shareholders appearing on the register of members as at the close of business on the 26 October 2017.

Use of Proceeds

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.

Terms

The issuer announces the following in respect of the Rights Issue:

1) Rights ratio 1 new ordinary share for every 4 ordinary shares held by existing shareholders

2) Offer price €1.43 per new ordinary share

3) New ordinary shares on offer 105,000,000 ordinary shares of a nominal value of €1.00 per share

Additional Info

The Rights Issue, if fully taken up, will result in the issued share capital of the Issuer increasing by 25%.

Existing shareholders who accept their proportionate entitlement of rights in full, will suffer no dilution to their interests in the Issuer. However, those shareholders who do not take up any of their rights to subscribe for the new shares will, if the Rights Issue is fully taken up, suffer an immediate dilution of 20% in their interests in the Bank

Clients can exercise their right by contacting us on 25 688 688 or through the investment advisors in one of our branches across Malta and Gozo and we will guide you accordingly.