FIMBank plc - Lapsing of Exchange Offer

On 19 July, FIMBank plc announced that, in anticipation of the final closing date of 22 July with respect to the “share-for-share exchange” with FIM Holdings plc, it will not be in a position to declare the Offer unconditional as the 80% acceptance threshold is not going to be reached. This is due to the fact that FIMBank has been notified that the support of certain of its shareholders cannot be secured in view that the “share-for-share exchange” could prejudice the position of such shareholder/s at this point in time.

Consequently, the Board notes and informs that the Exchange Offer will be lapsing and the “share-for-share exchange” will not be going ahead at this stage. The FIMBank Board continues to firmly believe in the objectives of the Exchange Offer and will seek to propose the project again at a future appropriate date.