On 15 October FIMBank plc announced a rights issue of 5 new shares for every 19 existing shares at an offer price of US$ 1.10 per share.
The offer will be made to those shareholders on the Register at the Central Securities Depository of the Malta Stock Exchange as at 26 October 2007. Accordingly, the last day for trading in shares of the Company on a cum-rights basis will be Tuesday 23 October 2007.
Shareholders on the Register of Members on the Record Date will be entitled to:
i) receive the Prospectus and accompanying documentation; and
ii) participate in the offer which, subject to the necessary approvals from the competent authorities, will open on 19 November and close on 30 November
If subscribed to in full, the Rights Issue will raise a total amount of US$ 25 million. Application has been made to the MFSA and to the Malta Stock Exchange respectively for the necessary authorisations.