Bank of Valletta plc - Resolution for a Share Buyback Programme

On 8 May 2025, Bank of Valletta plc published the agenda for the upcoming Annual General Meeting which is scheduled to be held on 29 May 2025.

One of the resolutions relates to a share buyback (non-cancellable) programme in which the directors are seeking authorisation to repurchase and acquire up to 2,800,000 shares at a price ranging from a minimum purchase price of €1.70 per share and a maximum of €2.80 per share.

BOV explained that should purchases occur after the 26 June 2025 (which is the record date for the proposed bonus share issue of 1 bonus share for every 10 shares held), the value and number of shares will be adjusted proportionally for the bonus share. As such, the price range would be adjusted to a minimum purchase price of €1.55 per share and a maximum of €2.55 per share.

The announcement also stated that the resolution’s authorisation is subject to regulatory approval and will be granted for a period of 18 months.

The directors are also seeking authorisation for BOV to hold any shares acquired for re-sale, or to utilise such acquired shares to distribute them to shareholders, in line with the Bank’s applicable distribution policies from time to time, which the directors believe are in the best interests of BOV.