MBR_ISSUE 40_Lowres

FINANCE
Malta Business Review
During his opening speech, the FIMBank
Group Chairman Dr John C. Grech stated
that, “The 2017 financial results are a
clear indicator of the sound strategic path
adopted over the past years, and highlight
our commitment and resolve in ensuring
a strong and sustainable growth trajectory
for FIMBank.” The Bank’s Chief Executive
Officer, Murali Subramanian commented
that the year’s positive financial results
reflect a “significant progression due
to the efficiency enhancements and
portfolio quality which the Bank has been
implementing since 2015”.
Following the opening statements, the
Bank’s Chief Financial Officer Ronald Mizzi,
then provided an overview of FIMBank’s
financial performance.
In emphasising the importance which all
shareholders hold for the Group, Dr Grech
also referred to a similar meeting due
to be held with the Malta Association of
FIMBank meets
stockbrokers,
financial
intermediaries and
Malta Association of
Small Shareholders
FIMBank recently hosted a meeting
with licensed stockbrokers and
financial intermediaries to discuss the
Group’s 2017 financial results, as well
as developments which marked its
performance during the past months.
Small Shareholders. He went on to thank
all those present for their participation,
adding that such initiatives are important
to foster open lines of communication with
stockbrokers and financial intermediaries. The
presentation was followed by an informal
discussion during which attendees had the
opportunity to discuss specific aspects of the
performance registered. MBR
For further information about FIMBank plc
please visit www.fimbank.com
Credit: FIMBank
FIMBank
Announces
Rights Issue
FIMBank p.l.c. (the ‘Bank’) announces that it has been granted
approval by the Listing Authority for a Rights Issue prospectus
dated 23 March 2018. The rights issue offer is for 209,687,428
new ordinary shares in the Bank at an offer price of USD0.55 per
share on the basis of 2 new shares for every 3 existing shares held
as at the record date (being 22 March 2018).
The net proceeds of approximately USD114 million from the issue
will be used to strengthen the Bank’s capital base and support the
general growth of the FIMBank Group and also the repayment
of a principal sum of USD50 million with interest due under a
subordinated loan agreement.
The acceptance period opens on the 4th of April 2018 (08.30
am) and closes on the 18th of April 2018 (10.00 am). For a copy
of the Prospectus and further information about the FIMBank
Rights Issue please visit https://www.fimbank.com/en/rights_
issue_2018 MBR
Credit: FIMBank
www.maltabusinessreview.net
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