Lombard Bank Malta plc - Special Business Resolutions

Thursday, April 6th, 2017

On 6 April, Lombard Bank Malta plc issued an announcement containing all the resolutions to be presented for the consideration and approval by shareholders during the upcoming Annual General Meeting scheduled to be held on 27 April 2017.

Apart from the resolutions governing the ordinary business of the Bank, shareholders will also be asked to consider and approve a number of special business resolutions as follows:

  1. That for a maximum period of eighteen months, Lombard Bank may acquire, in its own name, its own ordinary shares subject to a maximum of 50% of the Bank’s issued share capital between a price range of €1.54 and €3.09 per share;
  2. That the right of pre-emption of the Bank’s shareholders be restricted or withdrawn for as long as the Board of Directors remains authorised to issue and allot shares;
  3. That for a maximum period of five years renewable for further periods of five years each, all of the shares for the time being unissued be issued subject to such rights, restrictions and terms in accordance with the Bank’s Articles of Association; and
  4. That the Board of Directors of Lombard is empowered to disclose information (including price sensitive information) to a prospective bona fide offeror(s) and Cyprus Popular Bank Public Co. Limited (the prospective transferor) in the disposal of a Substantial Shareholding in Lombard.

Lombard also notified that the sale process for the disposal of the 49.01% shareholding of CPB in the Bank has recently been launched. The Board of Directors of the Bank resolved that it would be in the interest of the Bank and all its stakeholders to participate in the process with a view to possibly acquiring the CPB shareholding. The Bank lodged an expression of interest and on 5 April 2017 submitted its indicative offer in terms of the sale process.

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