Melite Finance plc - Bondholders’ Meeting

On 5 July 2024, Melite Finance plc announced that it will be convening a Bondholders’ Meeting on 23 July 2024 for the purpose of considering the approval of a resolution in relation to the discontinuation of listing from the Official List of the Malta Stock Exchange of its €9.25 million (nominal) secured bonds 2028 as explained in an Explanatory Memorandum.

The Company explained that the Board of Directors resolved to proceed with the filing of an application with the Malta Financial Services Authority (MFSA) for the discontinuation of listing should bondholders approve such resolution. Apart from approval from MFSA, the discontinuation of listing is subject to Melite Finance plc receiving acceptances for the Buy Back of at lease 95% of the nominal value of the bonds in issue.

The proposed Buy Back will be offered to all Bondholders alike at a price of €100 per Bond, inclusive of the redemption price for the Bonds and all interest which will have accrued as at 22 August 2024, being the effective date of the Buy Back.

Subject to the approval of the resolution for the discontinuation of listing at the Bondholders’ Meeting, Melite Finance plc shall on 26 July 2024 dispatch by mail to bondholders appearing on the Company’s register of bondholders as at 24 July 2024, an acceptance form and an explanatory covering letter.

Eligible Bondholders interested in participating in the Buy Back will have until 8 August 2024 to return the Acceptance Form, duly executed, to the Company at its registered office through the self-addressed envelope provided. Acceptance Forms shall be remitted by the Company to Lombard Bank Malta plc, acting as registrar and collecting & paying agent for the Buy Back.

Subject to the Minimum Threshold being met, Eligible Bondholders who submit their Acceptance Form on or prior to 8 August 2024 will receive the payment for the Bonds acquired by the Company on 22 August 2024.