FIMBank plc - Exchange Offer Details

On 7 April 2011, FIMBank plc announced that FIM Holdings plc, the new parent of the FIMBank Group, published a Prospectus in connection with an Exchange offer to all shareholders of FIMBank plc. FIMBank plc shareholders on the share register as at 30th March 2011 will be offered an equal amount of shares in the new holding company, thus effectively replacing the FIMBank plc shares which are currently listed on the Official List of the Malta Stock Exchange.

Herewith salient details of the Exchange offer:

Exchange offer:

Shareholders are being offered an exchange of one existing FIMBank plc share into one new share in FIM Holdings plc of the same nominal value and in the same currency of denomination.

Reason for the offer

The change in the Group’s structure is primarily aimed at optimizing the tax burden of the FIMBank Group. This would benefit the Group through a significant reduction in the effective rate of tax payable in Malta on FIMBank plc’s operations as a result of the net refund of Maltese tax that may be claimed (post Exchange Offer). 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.

Listing of the new shares

Official List of the Malta Stock Exchange

Nominal value of new shares

US$0.50

ISIN Code of new security

MT0000180159

Currency of new shares

US Dollars

Exchange Offer Cut-off date

30 March 2011

Exchange Offer Period

22 April 2011 to 22 July 2011

Exchange Date:

1 August 2011

Suspension of trading:

Trading in FIMBank plc shares will be suspended from 20 June 2011 until 30 June 2011.

FIMBank plc Bonds:

Any bonds which have been issued by FIMBank plc, and which remain outstanding as at 6 April 2011, shall not be affected by the Exchange Offer and will remain listed on the Official List of the Malta Stock Exchange as bonds issued by FIMBank plc.

Prospectus:

Download the FIM Holdings plc – Prospectus dated 6 April 2011.

We recommend that all interested parties read the Prospectus in its entirety.

 

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