Miguel Borg - Bank of Valletta

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november 2011 The Annual General Meeting - FAQs “The Board shall use the general meeting to communicate with shareholders … Shareholders must appreciate the significance of participation in the general meetings of the Company and particularly in the election of Directors.” - Principle 9 of the Code of Principles of Good Corporate Governance What is the purpose of the AGM? During an AGM, the company reports on the year’s results and informs shareholders about future business plans. The shareholders have the opportunity to vote on items which are brought before the meeting and to ask questions related to such items. The AGM deals with what is termed in the Listing Rules of the Malta Financial Services Authority (MFSA) as “ordinary business”, namely the receiving or adoption of the annual accounts, the declaration of a dividend, the re-appointment of the Board of Directors (which may or may not involve an election), the re-appointment of the auditors and the grant of the authority to the Board to fix the auditors’ emoluments. Secondly, the AGM can address other “extraordinary” business, such as amendments to the Memorandum and Articles of Association. Who can participate in an AGM? Participation is restricted to shareholders who are registered as such on the Register of shareholders of the company on the Record Date. In terms of the Listing Rules, the Record Date is set at 30 days before the AGM date. In the case of joint shareholdings, the notice is issued in the name of the first named shareholder and only this person can attend the Meeting. In the case of shares held jointly by husband and wife, both can attend the meeting, although only one voting document is issued. Il-Laqgħa Ġenerali Annwali - FAQs “Il-Bord għandu jagħmel użu mil-laqgħa ġenerali biex jikkomunika mal-azzjonisti... 8 When will the notice of the AGM be issued to the shareholders? What other documentation will be received by the shareholders? Listed companies in Malta are required to give shareholders not less than 21 days’ notice of an AGM, which is mailed with an explanatory circular to shareholders, a list of nominees for the election of directors (if an election will take place), a form of proxy and a copy of the Annual Report and Financial Statements. Can a shareholder appoint a third party to vote in his or her stead at the AGM? Yes. The proxy form (including in electronic format) is to be received by the Bank not less than 48 hours before the time of the AGM. Whilst a proxy holder cannot transfer his/her proxy to another person, a shareholder can choose to revoke a proxy not less than 48 hours before the time of the AGM. A shareholder may choose to specify in the proxy form how his or her proxy is to vote. This is referred to as a pre-voted proxy and the form itself constitutes a vote. However, the proxy holder is still required to attend the meeting for the vote to be valid. What documents does a shareholder or his or her proxy need to present to gain admission to the AGM? The documents required are the Admission Document which is part of the proxy form and the identity card. Upon registration, the shareholder or the proxy is issued with a voting document. The proxy will not be issued with a voting document if the proxy form received by the Bank was a prevoted proxy. The forthcoming BOV Annual General Meeting (AGM) is to be held at the Grand Master Suite, Hilton Malta, St Julians on the 16 December 2011 at 16.30 hours. L-azzjonisti għandhom japprezzaw l-importanza talparteċipazzjoni fil-laqgħat ġenerali tal-Kumpanija u b’mod partikulari fl-elezzjoni tad-Diretturi.” - Prinċipju 9 tal-Kodiċi ta’ Prinċipji ta’ Tmexxija Korporattiva Tajba
X’inhu l-għan tal-LĠA? Waqt laqgħa ġenerali annwali, l-kumpanija tagħti tagħrif dwar ir-riżultati tas-sena finanzjarja li tkun qed tintemm u tinforma lill-azzjonisti dwar il-pjanijiet tan-negozju għall-futur. L-azzjonisti jkollhom l-opportunità li jivvutaw fuq materji li jiġu mressqa fillaqgħa u anki li jagħmlu mistoqsijiet pertinenti fuq dawn il-materji. Il-LĠA tittratta dak li fil-Listing Rules tal-Awtorità għas-Servizzi Finanzjarji ta’ Malta (MFSA) jissejjaħ “in-negozju ordinarju” jiġifieri l-aċċettazzjoni tal-kontijiet annwali, id-dikjarazzjoni ta’ dividend, il-ħatra mill-ġdid tal-Bord tad-Diretturi (li għaliha jista’ jkun hemm il-ħtieġa ta’ elezzjoni), il-ħatra mill-ġdid tal-awdituri u l-awtorizzazzjoni lill-Bord biex jiffissa l-ħlasijiet lill-awdituri. It-tieni nett, il-LĠA tista’ tindirizza “negozju straordinarju” ieħor bħal emendi fl-Istatut Legali tal-kumpanija. Min jista’ jieħu sehem fil-LĠA? Il-parteċipazzjoni hija ristretta għall-azzjonisti li jkunu reġistrati bħala tali fir-Reġistru tal-azzjonisti tal-kumpanija fir-Record Date. Skond il-Listing Rules, ir-Record Date hi d-data li tiġi 30 ġurnata qabel il-LĠA. Fil-każ ta’ ishma miżmuma f’ismijiet konġunti, l-avviż jinħareġ f’isem l-azzjonist li ismu jidher l-ewwel fir-Reġistru u dan l-azzjonist biss jista’ jattendi l-Laqgħa. Madankollu, fil-każ ta’ ishma miżmuma f’ismijiet konġunti minn raġel u martu, jistgħu jattendu t-tnejn li huma għal-laqgħa, għalkemm jinħareġ biss dokument ta’ vot wieħed. Meta jinħareġ l-avviż tal-LĠA lill-azzjonisti? X’dokumentazzjoni oħra jirċievu l-azzjonisti? Kumpaniji kkwotati fil-Borża ta’ Malta huma mitluba li jagħtu lillazzjonisti avviż bil-quddiem tal-LĠA ta’ mhux inqas minn 21 jum, u dan jintbagħat flimkien ma’ ċirkulari li sservi ta’ spjega, l-ismijiet ta’ dawk nominati għall-elezzjoni ta’ diretturi (jekk tkun se ssir elezzjoni), dokument ta’ prokura (proxy form, kif spjegat hawn taħt) kif ukoll kopja tar-Rapport Annwali u l-Bilanċi Finanzjarji. Jista’ azzjonist jaħtar terza persuna biex tivvota f’ismu jew f’isimha fil-LĠA? Iva. Id-dokument ta’ prokura jrid tasal għand il-Bank (inkluż fil-format elettroniku jekk ser jintuża dan il-format) mhux inqas minn 48 siegħa qabel il-ħin tal-LĠA. Filwaqt li prokuratur ma jistax jittrasferixxi l-prokura tiegħu lil persuna oħra, azzjonist jista’ jagħżel li jirrevoka prokura mogħtija minnu sakemm il-Bank ikun avżat b’dan sa 48 siegħa qabel il-ħin tal-LĠA. Azzjonist jista’ jagħżel li jispeċifika fil-formola ta’ prokura kif ilprokuratur tiegħu għandu jivvota. Din tissejjaħ prokura vvutata minn qabel u għalhekk il-prokura fiha nnifisha tikkostitwixxi vot. Madankollu, l-prokuratur xorta waħda huwa meħtieġ li jattendi l-laqgħa biex il-vot ikun validu. X’dokumenti jrid jippreżenta azzjonist jew ilprokuratur tiegħu sabiex ikun jista’ jidħol għal-LĠA? Id-dokumenti li jridu jiġu ppreżentati huma d-Dokument tal- Aċċess li huwa parti mill-formola ta’ prokura li jkun irċieva kif ukoll il-karta tal-identità tiegħu. Wara li jiġi reġistrat, l-azzjonist jew il-prokuratur jinħariġlu dokument tal-vot. Fil-każ fejn il-formola ta’ prokura li kienet ġiet ippreżentata lill-Bank kienet waħda vvutata minn qabel, il-prokuratur ma jingħatalux dokument tal-vot. Il-Laqgħa Ġenerali Annwali (LĠA) tal-BOV li tmiss se ssir fil-Grand Master Suite, il-Lukanda Hilton Malta, San Ġiljan fis-16 ta’ Diċembru 2011 fl-16.30. 9
Page 1 and 2: issue 31 november 2011 INTERVIEW WI
Page 3 and 4: l-opportunitajiet ta’ tkabbir għ
Page 5 and 6: Notice Board Bank of Valletta award
Page 7: Joanna Camilleri, koordinatur edito
Page 11 and 12: Għat-tieni sena konsekuttiva, l-Ba
Page 13 and 14: Suġġett li dwaru l-azzjonisti tal
Page 15 and 16: Esperjenza Personali Tlesta r-resta

Miguel Borg - Bank of Valletta

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