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APS Bank plc – Resolution for a Share Buyback

Jonathan Falzon

April 15, 2026

15 April, 2026
3 min read
15 April, 2026
3 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

On 15 April 2026, APS Bank plc published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 6 May 2026.

One of the resolutions relates to a share buyback in which the company is seeking authorisation to repurchase up to 5,000,000 shares at a price ranging from a minimum purchase price of €0.45 per share and a maximum of €0.75 per share. The authorisation will remain valid until  the earlier of the end of the company’s annual general meeting to be held in 2027 and 30 June 2027, subject to regulatory approvals.

The Circular to Members explains that the share buyback will be carried out to reinforce and enhance shareholder value through more effective and efficient capital management, to provide the company with flexibility in meeting its obligations under the existing and proposed Employee Share Incentive Plan, and for any other lawful purpose permitted under the Companies Act. The shares bought will not be cancelled and the board may also resell such treasury shares at a price of not less than €0.45 per share and not more than €0.75 per share.

For the purposes of the share buyback and any re-sale, the company will enter into a discretionary portfolio management agreement with ReAPS Asset Management Limited, a wholly-owned subsidiary of the company which, as part of its licensable activities, carries out investment services activities.

APS explained that although it will not be able to implement the Share Buy-Back in accordance with the EU Market Abuse Regulation (EU No. 596/2014) (MAR) and the Commission Delegated Regulation (EU) No 2016/1052 (the Safe Harbour Regulation) the company will endeavour to comply (to the extent that it is possible for it to do so in practice) with the various provisions set out under MAR and the Safe Harbour Regulation on a best-efforts basis.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 15 April 2026, APS Bank plc published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 6 May 2026.

One of the resolutions relates to a share buyback in which the company is seeking authorisation to repurchase up to 5,000,000 shares at a price ranging from a minimum purchase price of €0.45 per share and a maximum of €0.75 per share. The authorisation will remain valid until  the earlier of the end of the company’s annual general meeting to be held in 2027 and 30 June 2027, subject to regulatory approvals.

The Circular to Members explains that the share buyback will be carried out to reinforce and enhance shareholder value through more effective and efficient capital management, to provide the company with flexibility in meeting its obligations under the existing and proposed Employee Share Incentive Plan, and for any other lawful purpose permitted under the Companies Act. The shares bought will not be cancelled and the board may also resell such treasury shares at a price of not less than €0.45 per share and not more than €0.75 per share.

For the purposes of the share buyback and any re-sale, the company will enter into a discretionary portfolio management agreement with ReAPS Asset Management Limited, a wholly-owned subsidiary of the company which, as part of its licensable activities, carries out investment services activities.

APS explained that although it will not be able to implement the Share Buy-Back in accordance with the EU Market Abuse Regulation (EU No. 596/2014) (MAR) and the Commission Delegated Regulation (EU) No 2016/1052 (the Safe Harbour Regulation) the company will endeavour to comply (to the extent that it is possible for it to do so in practice) with the various provisions set out under MAR and the Safe Harbour Regulation on a best-efforts basis.