APS Bank plc – Rights Issue Allocation Policy

Matthew Fabri

November 26, 2025

26 November, 2025
2 min read
26 November, 2025
2 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 25 November 2025, APS Bank plc announced the basis of acceptance in relation to the Rights Issue as per the Prospectus dated 22 October 2025.

APS explained that the 67,648,793 lapsed rights of the bank’s Qualifying Shareholders were allocated in Pre-Placement agreements for a total value of €29.8 million. Meanwhile, the remaining rights entitlement of 36,417,388 shares (total value of €16.0 million) attracted applications of 37,727,320 shares (total value of €16.6 million) resulting in an oversubscription of 1,309,932 shares (value of €0.58 million).

The Board of Directors noted that the proportionate entitlement to eligible shareholders which was either subscribed or transferred to other investors was allocated in full.

Meanwhile, with respect to the amount of additional shares applied for by eligible shareholders, the following allocation policy will apply:

  • Those applications for up to 30,000 shares will be allotted in full,
  • Those applications in excess of 30,000 shares will have the balance over 30,000 shares scaled down by 16.53%.

APS also explained that the new shares will be listed on Friday 28 November 2025 and that trading will begin on Monday 1 December 2025.

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 25 November 2025, APS Bank plc announced the basis of acceptance in relation to the Rights Issue as per the Prospectus dated 22 October 2025.

APS explained that the 67,648,793 lapsed rights of the bank’s Qualifying Shareholders were allocated in Pre-Placement agreements for a total value of €29.8 million. Meanwhile, the remaining rights entitlement of 36,417,388 shares (total value of €16.0 million) attracted applications of 37,727,320 shares (total value of €16.6 million) resulting in an oversubscription of 1,309,932 shares (value of €0.58 million).

The Board of Directors noted that the proportionate entitlement to eligible shareholders which was either subscribed or transferred to other investors was allocated in full.

Meanwhile, with respect to the amount of additional shares applied for by eligible shareholders, the following allocation policy will apply:

  • Those applications for up to 30,000 shares will be allotted in full,
  • Those applications in excess of 30,000 shares will have the balance over 30,000 shares scaled down by 16.53%.

APS also explained that the new shares will be listed on Friday 28 November 2025 and that trading will begin on Monday 1 December 2025.