Bank of Valletta plc - Change in Chairmanship

Wednesday, November 2nd, 2016

On 2 November, Bank of Valletta plc announced that Mr John Cassar White, the current Chairman of the Bank, informed the Government of Malta as the main shareholder of the bank that he will not continue to serve on the Board of Directors after his term expires at the next Annual General Meeting (AGM) to be held on 16 December 2016. In accordance with the terms of the Bank’s Memorandum and Articles of Association, the Government has nominated Mr Taddeo Scerri as Chairman and Ms Anita Mangion as Director on the Board for a period of one year with effect from 16 December 2016, subject to regulatory approval.

At the AGM, shareholders will be electing the other six directors. Thereafter, all directors will then be assessed by the regulators through a fit and proper evaluation process.

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