Lombard Bank Malta plc - Result of Rights Issue

On 30 October 2023, Lombard Bank Malta plc announced the result of the rights issue of 2 new shares for every 3 shares held at a price of €0.75 per share. Total subscriptions from eligible shareholders and assignees amounted to 47,911,975 new ordinary shares having a total value of €35.9 million and representing 77.5% of the shares available for subscription. These applications were accepted and allotted in full.

Furthermore, existing shareholders applied for 1,485,613 shares in excess of their proportional entitlement, having a value of €1.1 million.

As a result, a residual balance of 12,430,744 shares will be made available for subscription at an offer price of €0.75 through an intermediaries offer period from 1 November 2023 to 27 November 2023 at 10:00 hours, or earlier in the event of an over-subscription. Preference will be given to employees and Directors of Lombard as well as shareholders of MaltaPost plc who are not also existing shareholders of the bank.