18 January 2006

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Business Today

Allocation of BOV bonus share issue

The Bank of Valletta bonus shares will be allocated to the shareholders on the register at the close of business on Wednesday, 18 January 2006. These shares will also be admitted to listing on the Malta Stock Exchange at that time, and will be available for trading by the shareholders at the opening of business on Thursday, 19 January 2006. Notification of the allocation of the bonus shares to shareholders will be dispatched on Friday, 20th January 2006.
Commenting about the significance of this development, Roderick Chalmers, Chairman of Bank of Valletta said, “The Bonus issue will serve to both increase the permanent capital base of the Bank, and hopefully, increase the affordability and liquidity of the Bank’s shares, to the benefit of all shareholders”.
The one for one bonus share issue was approved by the Board of Directors of Bank of Valletta p.l.c. during a meeting held on the 28 October 2005. Subsequently, the Annual General Meeting of Bank of Valletta p.l.c. held on 16 December 2005 resolved that the amount of Lm13,854,110.25 from the Bank of Valletta plc's retained earnings account be capitalised for the purpose of issuing 55,416,441 fully paid ordinary shares of a nominal value of Lm0.25 per share in respect of the one for one bonus share issue.

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