FIMBank plc - Group Restructuring

On 4 March, FIMBank plc announced that the Board of Directors resolved to start the process of setting up a new Maltese group holding company, FIM Holdings plc (or such other name as may be decided for this purpose). FIM Holdings plc will become the new parent company of the FIMBank Group through a share-for-share exchange whereby existing FIMBank plc shareholders will be offered an equal amount of shares in the new holding company. The transaction is subject to FIM Holdings plc obtaining a listing on the Official List of the Malta Stock Exchange with effect from a date currently scheduled for 30 June 2011 thus effectively replacing the FIMBank plc shares currently listed. In fact, the Board of Directors of FIMBank plc will be meeting on 6 April 2011 to consider and approve an application for the Discontinuation of Listing of FIMBank plc shares.

Shareholders as at the close of trading on 25 March will receive a prospectus issued by FIM Holdings plc together with an acceptance form and other appropriate documentation. Shareholders will have a defined period within which to accept or decline the share-for-share exchange offer.

The Directors explained that this change in the Group’s structure is primarily aimed at optimising the tax burden of the FIMBank Group. As a result, this would be beneficial to all shareholders and the business as it would provide opportunities for further equity retention to support the growth of the FIMBank Group.

The share-for-share exchange is still subject to the appropriate regulatory approvals and all necessary corporate approvals by FIMBank plc and FIM Holdings plc. Further announcements will be made in due course.

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