Lombard Bank Malta plc - Acquisition of 25% of Maltapost plc

Further to the announcement on 30 July regarding the acquisiton of 25% of the issued share capital of Maltapost plc, Lombard Bank announced on 3 September that Cabinet has approved the transaction.

Following this approval, Lombard’s fully-owned subsidiary Redbox Limited acquired 700,000 Maltapost plc shares on 6 September for a total consideration of Lm1.2 million. Following this transaction, Lombard’s shareholding in Maltapost has now increased to 60%.

The Government of Malta confirmed that the remaining 40% of Maltapost is expected to be offered for public subscription via an IPO in February 2008.

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