APS Bank plc - Preliminary details of Rights Issue

On 15 September 2025, APS Bank plc announced that it intends to raise about €45 million of new equity by way of a Rights Issue of new ordinary shares, subject to the due regulatory clearances which are currently in progress. APS explained that the proceeds are intended to strengthen its capital base and maintaining relevant regulatory requirements. Furthermore, this is also aligned with the dilution plans of the two qualifying shareholders, namely AROM Holdings Ltd (owned by the Archdiocese of Malta) and the Diocese of Gozo, holding respectively 54.67% and 12.52% of the current issued share capital.

In this respect, AROM Holdings Ltd and the Diocese of Gozo have been indicating that they intend to continue reducing their concentration in APS Bank plc and following discussions between the bank and the qualifying shareholders, it is expected that they will not be subscribing to their rights in any material way, if at all, such that their proportionate ownership and voting interests in APS Bank plc will be further diluted. Subject to the full take-up of the rights, the shareholding of AROM Holdings Ltd is expected to be less than 50%. APS highlighted that both qualifying shareholders continue to be fully supportive of the bank‘s strategy and growth plans.

In anticipation of the lapsing of rights of the qualifying shareholders, APS Bank plc will be engaging with investors interested in taking up those rights via a placement process, with a minimum investment consideration of €500,000.

APS stated that the process required to obtain regulatory approval for the Rights Issue is at an advanced stage and the publication of the Prospectus is expected in the first half of October 2025, which will be followed by the ordinary application process of the Rights Issue whereby eligible shareholders will be able to subscribe for their pro rata entitlements. Any shares not subscribed by eligible shareholders will be offered to the general public through an intermediaries’ offer.