Lombard Bank Malta plc - Substantial Acquisition in Lombard

Tuesday, March 20th, 2018

On 16 March 2018, Lombard Bank Malta plc announced that it had been informed that the National Development and Social Fund (“NDSF”) agreed to acquire 21,651,746 ordinary shares (representing 49.01% of the issued share capital of Lombard) from Cyprus Popular Bank Public Co. Ltd. (“CPB”). The transfer of shares is subject to a number of conditions, namely regulatory approvals as well as the procurement of the release of any encumbrance over the shares being transferred.

In the announcement, Lombard also noted that it received confirmation from the Board of Governors of the NDSF that the NDSF: (i) does not intend to increase its holdings in Lombard; (ii) that it shall not act in concert with any other shareholders; (iii) that it will seek to reduce its proposed shareholding in Lombard in an orderly manner, at the right market conditions and by agreement with the regulatory authorities; (iv) that it has no intention of exerting any influence on the operations of the Bank; and (v) that the acquisition will not result in a change in control of the Bank.

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